News & Events | WDM - Part 8

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HMRC warns taxpayers not to share personal details online April 1, 2022

HMRC has warned taxpayers to avoid sharing their personal information online in order to prevent their identities being used to claim self assessment refunds. According to HMRC, criminals are attempting to obtain taxpayers’ Government Gateway log in details to register for income tax self assessment and submit bogus tax refund claims. Taxpayers are reportedly being
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82% of VAT registered businesses are still unaware of MTD deadline April 1, 2022

Although there is less than a month until the roll out of the Making Tax Digital (MTD) for VAT extension, 82% of eligible businesses are unaware of the approaching deadline, according to a survey commissioned by QuickBooks. The survey revealed that there has been a small overall increase in awareness of the MTD deadline since
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HMRC collects £30.8 billion through tax probes April 1, 2022

The total revenue generated from HMRC’s tax investigations increased to £30.8 billion during 2021, according to research by law firm Pinsent Masons. The figure is up £1.2 billion from 2020 after HMRC had to suspend some of its investigation work for part of 2020 to focus on the administration of the coronavirus (COVID-19) support schemes.
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SSP Rebate Scheme set to close in March April 1, 2022

The Statutory Sick Pay Rebate Scheme (SSPRS) will close on 17‌‌‌ ‌March‌‌‌ ‌2022. The SSPRS was reintroduced by the government on 21 December 2021 for employers with fewer than 250 employees. The maximum claim per employee is two weeks at the statutory sick pay (SSP) rate of £96.35 per week (£192.70 in total). The employer’s
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FSB calls for relief for small employers in Spring Statement April 1, 2022

The Federation of Small Businesses (FSB) has urged Chancellor Rishi Sunak to use the upcoming Spring Statement to help small employers with ‘spiralling overheads’. The business group has recommended an increase in the Employment Allowance to £5,000 to help free up funds for investment and expansion. Research carried out by the FSB showed that the
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From the opening of our store to the eventual sale of four stores seventeen years later, WDM have provided invaluable assistance all the way along. They are more than just an accountant to us and we couldn't speak highly enough of them.

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