January 2024 Update: HMRC crackdown on ‘side hustles’

What was the issue? From the 1st January 2024, HMRC has instructed that digital platforms such as Airbnb, Uber, eBay, Deliveroo, Amazon, Etsy, Fiverr and Upwork, automatically report individuals earnings to HMRC directly as part of HMRC’s crackdown to tackle tax evasion. This measure will affect digital platforms in the UK that facilitate the provision of services or […]

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HMRC’s response to R&D Tax Credit Fraud and Error

What is the problem? R&D tax credit fraud was identified as a major concern in HMRC’s latest annual report and accounts as the published figures for fraud and error in 2020-21 rose from its previous estimate of £336 million (3.6% of the total value claimed) to £1.13 billion (16.7%). HMRC’s Chief Executive admitted that they […]

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Contentious Tax Bulletin

Tax Investigations Partner, Andrew Park, provides a round up of the most recent and significant contentious tax news In our contentious tax bulletin, Andrew Park, Tax Investigations Partner at Price Bailey, provides an overview of the most recent and significant contentious tax news, legislative changes, updates, and relevant case decisions that occurred throughout the previous […]

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What is Plastic Packaging Tax (PPT), upcoming changes, and how may it affect me?

What is PPT? Plastic Packaging Tax (PPT) became effective in the UK on the 1st April 2022 as part of the government’s Resources and Waste strategy, aiming to encourage businesses to use recycled plastic in packaging and reduce plastic waste. HMRC states that “the aim of the tax is to provide a clear economic incentive for […]

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How Can Your Business Create An Effective Credit Control Process?

Businesses across the UK are at the centre of an unsustainable culture of late payments. Prior to the pandemic, late payments caused 50,000 SMEs to fail each year. Now, there is an increased fear that even more businesses across the UK will continue to fall as a result of the catalyst that was the pandemic […]

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HMRC tax fraud strategy criticised by committee

HMRC is not doing enough to tackle tax fraud, according to a report by the Public Accounts Committee (PAC). Findings show that tax fraud is creating losses of around £16 billion a year, almost half of the £34 billion tax gap.  The level of tax fraud losses has remained constant over the last 5 years […]

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Price Bailey Insures Growth

New Insurance Company Provides Lower Cost Insurance Option Chartered accountants and business advisers Price Bailey has announced the formation of a licensed insurer within the group – Price Bailey Insurance PCC Limited. The new company recently received its licence from the Guernsey Financial Services Commission to write general insurance business. As a result, in addition […]

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Price Bailey- How the Budget changes will impact Charities

Following the Budget on 18 March, we explore the significant changes arising that impact on charities. VAT relief for charities Following the Autumn Statement announcement, we are delighted that the Budget has confirmed a VAT refund scheme for Hospices, Search and Rescue organisations, Air Ambulances and now extended to Bike Blood charities will come in […]

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Price Bailey On the Move

Chartered accountants and business advisers Price Bailey has relocated its Cambridge office to new larger premises as a result of the company’s growth. The company has had a presence in Cambridge for more than 50 years but the company’s success has meant that it has outgrown its current office which it moved to in 2004. […]

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Price Bailey- Entrepreneurs’ relief – are you entitled to it? Are you sure ……?

With such a valuable tax relief at stake there is often an assumption that it is available without paying attention to ‘the devil in the detail’ we tax advisers love so much.  So what are the most common traps that people fall in to and how can you avoid the pitfalls? Here are some examples […]

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Price Bailey Secures Corporate Buyer for Family-run Business

Price Bailey recently helped close the sale of AID Industrial to 3sun Group, a specialist provider of products and services to the global energy industry. AID Industrial is a specialist PPE (personal protection equipment) provider and expert in industrial Rope Access, Work at Height and Global Wind Organisation safety courses. The company has a strong […]

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Price Bailey Chartered Accountants joins IR as the exclusive Business Advisory Services & Fiduciary Services member in England.

International Referral, the world’s largest exclusive network of advisory firms is delighted to introduce Martin Clapson of Price Bailey Chartered Accountants. Martin has joined IR as our exclusive Business Advisory Services & Fiduciary Services member in England. Martin was elected as Managing Director in June 2013 and oversees Price Bailey’s Management Board, taking responsibility for the strategic […]

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