Latest News

July 2014

Employers reassured over 2013/14 interim penalty notices

Banks & Co are reassuring employers who may have erroneously received 2013/14 interim penalty notices from HM Revenue and Customs (HMRC) that they do not need to take urgent action.

HMRC to allow telephone VAT filing

Banks & Co are informing businesses that HM Revenue and Customs (HMRC) will now allow VAT returns to be filed over the telephone in “exceptional circumstances.”

HMRC close last remaining enquiry centres

Banks & Co are warning individuals and businesses that HM Revenue and Customs (HMRC) is closing it’s last enquiry centres this week, meaning taxpayers can now longer drop in for advice.

HMRC property raids increase

Banks & Co are warning individuals that HM Revenue and Customs (HMRC) is increasing its raids on properties to catch tax evaders.

Consultations turn spotlight on benefits in kind

The government has launched consultations on key changes to employee benefits and expenses.

Digital businesses offered ‘one stop VAT shop’ for EU sales

Businesses supplying digital services – broadcasting, telecoms and e-services such as smartphone games and other apps – across the European Union will be able to use a one-stop VAT service from January. 

Zero hours contracts set for reform

Employees on zero hours contracts will be free to find work with more than one employer after the government moved to ban exclusivity clauses.

National minimum wage review under way

The government has set out its remit for the annual review of the national minimum wage (NMW) by the independent Low Pay Commission (LPC).

SMEs lack auto-enrolment awareness, say advisers

Only one in 100 independent financial advisers (IFAs) believe small businesses are well prepared for auto-enrolment into workplace pensions, a new study has revealed.

Help at hand on PAYE late filing penalties

HM Revenue & Customs (HMRC) has published new guidance for employers to help prepare for PAYE late filing penalties from October 2014.

Businesses urged to tap into potential of older workers

British businesses must realise the potential of older employees and help people to carry on working, Pensions Minister Steve Webb has said.

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Accountants Newbury, Berkshire
Accountants Newbury, Berkshire

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Banks & Co: The Budget Statement 2014