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HMRC Let Property Campaign

HMRC are currently allowing landlords of rental properties who have previously not declared rental income to come forward and make themselves known to HMRC.  If the landlord does this HMRC will offer the best available terms in relation to penalties on the undeclared income.  If the landlord fails to act and continues to ignore their responsibilities to disclose the rental income HMRC will take a tough approach once this campaign ends.  Please remember that even if rental income matches any mortgage payments a landlord must still report the source of income to HMRC.

E-mail phising scam

In recent weeks there have been new bogus e-mails purporting to be from Companies House or the Tax Credits department at HMRC.  The e-mail from Companies House has a subject matter of complaints received against your company and the Tax Credits e-mail suggests that the claimant is entitled to a refund of tax credits.  If you are in receipt of such an e-mail you should not open either the e-mail or its attachment as they will contain a virus.  You can report the suspicious e-mail to Companies House or HMRC through their website.

 

National Minimum Wage October 2013

From 1 October 2013 the National Minimum Wages increases to £6.31 for employees aged 21 and over.  The 18 to 20 year old rate increases to £5.03 and the under 18 non-apprentice rate increases to £3.72.  If an employer does not pay the National Minimum Wage they will face penalties and arrears notices from HMRC.