January 31st is drawing ever closer. We hope you have an efficient day! Here’s the Lowdown.
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Deadline forgiveness for flood affected
HMRC has stated that people affected by December’s heavy flooding can request a self-assessment deadline extension, reports The Telegraph.
It has also set up a special helpline for those affected by the floods and storms which deluged parts of the UK at Christmas.
This extension is similar to extensions that were granted to people affected by the flooding during the winter of 2013/2014.
Flood victims face a number of difficulties in filing returns including the loss of documentation or computer files. In some cases taxpayers’ accountants’ premises will have been damaged.
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HMRC feels the wrath of Zeus
Richard Hughes, the co-founder of Zeus Capital, has attacked the Crown Prosecution Service’s decision to progress a criminal case against him following an ongoing HMRC investigation into an alleged tax avoidance scheme.
Hughes set up a £134m ‘film investment scheme’ which was picked up by the tax authority for potential tax evasion.
Hughes spokesperson stated, “The decision by the Criminal Prosecution Service to progress this investigation is beyond comprehension” and that Hughes would expose “the weakness and naivety of the HMRC argument” against him.
“It appears that HM Revenue & Customs has not fully understood the business structures and arrangements in this case, despite offers to explain them in more detail on numerous occasions.”
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Accountants want money, not perks
90.7% of accounting professionals would opt for money over workplace perks, a study from CV-Library, has revealed.
The job site conducted research amongst over 2,400 UK professionals to determine how UK workers feel about workplace perks offered by their employers. While 88.4% of workers believe businesses should offer workplace perks, 53.5% of sector professionals didn’t believe workplace perks are important when considering new career opportunities.
Lee Biggins, founder and managing director of CV-Library comments: “When ran effectively, workplace perks can go great lengths to creating a happy and productive workforce. However, it’s important that perks aren’t used as a replacement for fair salaries and bonus schemes, especially if you’re bringing staff on-board in January, when many employees experience a funding-drought after the Christmas period.
Accounting professionals have revealed that higher salaries and bonuses are more important than workplace perks, and businesses need to take this into consideration when recruiting for their accountancy vacancies.”