Cobley Desborough

HM Revenue & Customs issues reminder to anyone who sells on Vinted or eBay ahead of new '30-item' rule. HMRC has issued a statement ahead of changes coming in next year that will affect online marketplaces such as Vinted and eBay. From next year, sites such as Vinted, Depop and eBay will start sharing some user sales and personal data from January 2025 with HMRC, due to new legal obligations. Those who sold at least 30 items or earned roughly £1,700 on a website or app in 2024 will be contacted by the digital platform in January to let them know that some personal information will be sent to HMRC. https://lnkd.in/eypMZhTN

The December edition of the Employer Bulletin brings you all the latest HM Revenue & Customs updates and guidance to support employers, payroll professionals and agents. Included in this edition are important updates on: • employer National Insurance contributions and Employment Allowance changes announced at Autumn Budget 2024 • automatic enrolment duties for festive season workers • confirming plans to mandate the reporting of benefits in kind through payroll software from April 2026 • the official rate of interest from 6 April 2025 • Investment Zone employer National Insurance contributions relief guidance • helping your employees top up their State Pension Read the Bulletin by going to https://lnkd.in/e8X9ZvR8

Interest rates forecast to be higher for longer due to Budget. UK interest rates will fall more slowly than expected over the next two years due to October's Budget, according to an influential think tank's forecasts. Although Budget measures would boost the economy in the short-term, changes to tax and spending would mean the cost of borrowing would fall more slowly, the Organisation for Economic Co-operation and Development (OECD) said. https://lnkd.in/gpFNCXY7

How do I tailor my Self Assessment tax return? This video from HM Revenue & Customs shows how to select the right pages on your online Self Assessment tax return. Well worth a watch.

VAT – the basics and the VAT return. For information about the basics of VAT and the VAT return, register for this live HMRC webinar, during which HMRC will be discussing: • what VAT is and charging VAT • standard VAT accounting • paying your VAT bill • what to do if you make a mistake • cancelling your VAT registration Register now at https://lnkd.in/emAvdKTB

Business motoring - tax aspects. This factsheet, published by Cobley Desborough focuses on the current tax position of business motoring, a core consideration of many businesses. The aim is to provide a clear explanation of the tax deductions available on different types of vehicle expenditure in a variety of business scenarios. Read now at https://lnkd.in/eWfrCFEt

Scams warning as Self Assessment deadline loom. HM Revenue & Customs is reminding Self Assessment customers to be alert to potential scams and fraudsters ahead of the filing deadline on 31 January 2025. Concerned customers reported nearly 150,000 scam referrals to HM Revenue & Customs in the last year, as Self Assessment filers are warned to be alert to fraudsters. With millions of people due to complete their Self Assessment tax return and pay any tax owed by 31 January 2025, fraudsters are targeting people with offers of tax refunds or demanding payment of tax to get hold of personal information and banking details. Around half of all scam reports (71,832) in the last year were fake tax rebate claims. There has been a 16.7% increase in all scam referrals to HMRC – 144,298 were received between November 2023 and October 2024, up from 123,596 in the previous 12-month period. https://lnkd.in/eQ7n6Gad

Five ways to avoid being ripped off on Black Friday. The Black Friday sales are already in full swing and it can be easy to get swept up in the shopping frenzy and end up out of pocket - instead of bagging a bargain. The vast majority of Black Friday offers are cheaper or the same price at other times of the year, consumer group Which? has warned. BBC News has spoken to some experts who have shared tips on how to shop Black Friday without being ripped off. https://lnkd.in/d2gwcDHz

New to Self Assessment? - An introduction from HM Revenue & Customs. This short recorded webinar gives you an overview of Self Assessment including; key dates, the tax return and where to find more help and support. HM Revenue & Customs is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. https://lnkd.in/etZG5rep

Scams warning issued by HM Revenue & Customs ahead of self-assessment deadline. People filling out their tax returns are being warned to watch out for scams as the self-assessment deadline approaches. Fraudsters are targeting people with bogus offers of tax refunds or demanding payments to get hold of personal information and banking details, HM Revenue and Customs (HMRC) warned. Millions of people are due to complete their self-assessment tax return and pay any tax owed by January 31 2025.