More recent posts
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Further measures introduced by the Chancellor to support people, jobs and business
In a bid to ease the strain on economy, the Chancellor has followed through on his promise ‘to do whatever it takes’ to support the economy in a…
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COVID-19 Government Financial Support
We at Magma are here to support your business In what is proving to be a constantly evolving situation with COVID-19, we at Magma are staying informed on…
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COVID-19 and time to pay HMRC
The dedicated HMRC helpline for businesses and self-employed individuals, who have concerns about paying their tax due to COVID-19, as promised at Budget 2020, is now in operation.…
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The Chancellor’s COVID-19 response
Yesterday, the Chancellor announced further support for businesses and individuals which could prove invaluable to those suffering from the economic impact of the global Coronavirus pandemic. Sunak’s…
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Winding up your personal service company
Many workers who have been providing their services through an intermediary, such as a personal service company (PSC), may find that their company is no longer required. This…
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Majority of landlords don’t use a tax adviser
Recent research from mortgage lenders revealed that over half of all landlords do not use the services of a tax adviser. Lenders expressed concern that this could mean…
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Tax crackdown on high-net worth individuals and families
The use of Family Investment Companies (FIC) has come under investigation by a small ‘secret’ HMRC team known as the FICs Unit. The unit was launched in April…
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TV presenter Eamonn Holmes loses IR35 appeal
A First Tier Tribunal (FTT) has found the work of veteran TV presenter Eamonn Holmes falls within IR35, with the judge deciding his contract with ITV’s This Morning…
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The impact of late payments on SMEs
A recent study has shown that UK small and medium size businesses spend more than a week a year chasing late customer payments, worth more than £50bn. Published…