WARNING: HMRC scam emails

A number of clients have brought to my attention emails they had received stating they are due a tax refund and wanted us to confirm whether this was correct.

We are writing this post to inform clients that HMRC never correspond via email. These emails are sent to obtain client bank details. Please ensure that you do not click on any of the links and that you either delete the email from your system or forward to your agent to report the scam with HMRC.

The constructions of the emails are very good and look more genuine every year. They will always state that you have a refund and will ask for bank details. If you have completed the details, contact your bank at the earliest opportunity.

For an example of the scam email, please CLICK HERE.

For an example of the details requested, please CLICK HERE.

Please contact your agent if you have any questions or concerns.

Tim's on the run

Hello everyone,

Further to my new years resolution to improve my fitness (better late than never!) I have signed up to do a 5K run on the 14th July and in the process will help raise some much needed funds for Cancer Research UK (Men only, ladies have had their run)

This is a shameless plug to get sponsors and/or get people to join me in the run. Let me know if your interested.

Thank you in advance for your support and remember to claim Gift Aid. Please CLICK HERE to make a donation.

TIP. If you do not pay income tax, any gift aid claim will be paid by you personally through your tax return. You may wish to avoid claiming gift aid to reduce the administrative burden involved in making additional payments.


Pension advisors VAT clarification

Well into the new RDR world, financial advisors have had to be more concerned about VAT effects on the services they apply.

Some businesses may be looking to setup a group personal pension plan for their staff instead of using the NEST pension scheme introduced by government. The services of financial advisors will be needed to arrange and setup the group personal pension plans.

Advisors should be aware that the majority of these cases should be subject to VAT. Those who advise and assist in the setup and the on-going administration should charge standard rated VAT on invoices to the employer.

VAT has played a big part in the design of financial advisor firms and the business models they have in-place. This is a very technical area. If you require any advice on tax effects or need assistance with the development of a RDR ready business model, please contact us.

Tim Phur is an ‘ACCA’ chartered accountant and a ‘DipPFS’ financial planner and is best placed to assist you in the creation of a successful financial business. Request a call-back on the website or alternatively call 07402 445454.



Tim's indepth understanding of our business enables him to give us the best practical advice.