What do we think about the 2014 budget then?

Firstly, we had good news in the fact that the economy is recovering at a faster rate than was previously expected. Yes, it is still in recovery but there is room for optimism here it seems. The UK is growing at a faster rate than other economies including Germany, Japan and the US. Hooray! Of course if the economies surrounding the UK, particularly the Eurozone, are recovering at a slower pace then high commodity prices will make the UK’s outlook sensibly cautious at best. Then came the expected announcement that the £1 coin will be replaced in three years’ time
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HMRC is adamant that RTI is working – is it?

I have to admit that it was far less of a disaster than we thought it might be. Yes, there were many long phone calls, changing of the goal posts and annoying glitches to be handled but they were handled without any catastrophic meltdowns. Just. HMRC’s phones must have needed replacing by the end of last year the amount they were being used. And you would have thought the holding music could have been a little more engaging given the audience numbers it was getting. That aside though we do seem to have a more effective, more informative and modern
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Business Records Check: Something for all businesses to keep in mind

HMRC over the next year are sending letters to randomly selected businesses (mostly cash businesses such as taxi firms, hair dressers etc.) asking for a Business Records Check. This is a check on your business records which means they will look into how you manage them and what information you have immediately to hand. This is to make sure that you are able to complete your tax returns correctly and pay the right amount of tax at the right time to avoid interest and penalties. It will also flag up any businesses that are submitting inaccurate tax returns and keeping
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