ABS Accontancy

Combating HMRC Scammers

Combating HMRC Scammers

In the 12 months leading up to September 2023, HMRC has been actively combating scammers who impersonate them to target taxpayers. These scammers employ various tactics, such as offering tax rebates and making false threats regarding unpaid taxes.  HMRC issued a warning to taxpayers, advising them to remain vigilant against scam attempts through text messages, […]

Charities Act 2022

Charities Act 2022

The Charities Act 2022 The Charities Act 2022 has undergone clarifications by the Charity Commission, particularly regarding selling or leasing charity land and utilising endowment funds. On 1 June, when the regulations become effective. This webpage outlines a tentative schedule for implementing the Charities Act 2022 and fulfilling additional commitments made by the government in […]

Electronic Sales Suppression

Electronic Sales Suppression

HM Revenue & Customs (HMRC) has launched a letter initiative to urge businesses that have misused their cash register systems, called electronic sales suppression, to rectify their tax affairs. We anticipate that this campaign to persist for at least the upcoming year. Issuing these letters is a crucial aspect of the HM Revenue & Customs […]

5 ways to please your accountant

Your accountant plays a crucial role in managing your finances; therefore, they are 5 ways to please your accountant.  When it comes to maintaining a positive relationship with them, you can immediately take to keep your accountant happy, foster a harmonious professional bond, and enable them to deliver their optimal services for your small enterprise. […]

Making Tax Digital for ITSA

Making Tax Digital for ITSA

Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) will change how millions of business owners and landlords report their earnings to HMRC.   This change will be the most significant shakeup of Tax legislation in decades.   Under MTD for ITSA, sole trade businesses and landlords will need to keep and maintain digital records and use MTD-compatible software to manage, […]