• Mercia Blog Charities

    Charities And The Common Reporting Standard

    New tax laws on automatic exchange of information will impose extra reporting requirements on some charities that have income from investments and that have beneficiaries, shareholders or lenders outside the UK. Charities with most of their income from donations, and those with all operations, investors and beneficiaries in the UK, will not need to report, […]

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  • Apprenticeship Levy and Funding

    Apprenticeship Levy And Changes To Apprenticeship Funding

    From 6 April 2017 a new charge will apply to some employers – the Apprenticeship Levy. Although many employers will not pay the Levy, there will be significant changes to the taxpayer funding of apprenticeships for all employers. The changes are being introduced as the government wants to encourage the creation of 3 million apprenticeships […]

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  • Money Laundering

    Money Laundering and Due Diligence

    A recent Tribunal case, TC05404: N Bevan Ltd, has explored the Customer Due Diligence Rules for accountants and illustrates the dangers of inadequate procedures. The company appealed a penalty of £3,750 in respect of alleged breaches of the Money Laundering Regulations 2007. The company is a small firm which carries on an accountancy business but […]

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  • GettyImages-small

    Are HMRC always right?

    Some years ago HMRC were given wider information powers and also a right of access to business premises. What we have seen of more recent times is HMRC attempting to use these powers but, regularly, overstepping the mark. Two cases make interesting reading. The first involved a General Practitioner who, for many years, acted as […]

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