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Import VAT blocked by incorrect importer details
Our client, a UK medical device importer, used a global customs agent to handle their import declarations.
The agent repeatedly listed the client’s customer (the NHS), instead of the client, as the importer of record, resulting in significant VAT issues.
Our VAT specialists acted quickly and: - Identified the correct HMRC specialist team in Belfast
- Prepared and submitted a formal request to change the importer of record to our client
- Ensured HMRC updated all relevant entries
At James Cowper Kreston we have an experienced team of VAT specialists many who have HMRC experience meaning we are able to identify issues, challenge HMRC where necessary, and protect your position.
Read our full case study by clicking below. | | Quarterly Economic Survey report briefing Q1 with Yuan Yang, MP
This business briefing will examine the results of the Q1 Quarterly Economic Survey from a regional and national perspective.
The British Chambers of Commerce (BCC) Quarterly Economic Survey (QES) is the largest independent business survey in the UK and a significant economic indicator.
We are proud sponsors and we ask you to join us for this QES Q1 briefing, whereby we will be discussing the results and what they mean in real terms for local businesses and representatives from the British Chambers of Commerce.
We recommend local businesses attend this meeting to find out what the results mean for the economy going forward and plan accordingly.
Click below to find out more and book your tickets now. | | | |
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| Making Tax Digital for income tax - biggest tax change since self assessment | |
The introduction of Making Tax Digital (MTD) for Income Tax this April will be the biggest change to the UK’s tax system since self assessment, says the Low Incomes Tax Reform Group (LITRG).
From 6th April 2026, taxpayers with more than £50,000 of gross income from self-employment and/or rental income in the 2024/25 tax year will need to comply with the new rules from that date. | | | |
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Stable but strained: pressure on private wealth persists | |
The 2026 Spring Statement delivered no major new tax measures, but it reinforces a tighter fiscal environment that continues to affect high-net-worth individuals through stealth taxation rather than headline rate rises. With growth downgraded and public finances under pressure, frozen income tax thresholds remain a key issue, fiscal drag will keep pulling more income into the 45% additional rate and the £100k–£125k effective 60% band.
Our 2025/26 Year-End Tax Planning Guide sets out the essential steps to take before 5 April to help mitigate the impact of ongoing fiscal drag and future tax risk. Download the full guide by clicking below. | | | |
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Britons returning from Gulf countries: the tax risk behind the headlines | |
There has been significant media coverage regarding Britons being required to leave the Gulf countries following recent developments and, justifiably, concerns surrounding the unexpected UK tax implications.
An unplanned return to the UK now can undo a non-residence position entirely, particularly where someone was relying on specifics in the statutory residence test. If UK work resumes, UK accommodation or family presence reappears, or the overseas work pattern is broken, HMRC can dispute that the conditions were never met and the non-residence position can be reversed.
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New company car advisory fuel rates have been published and took effect from 1 March 2026. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’.
The rates only apply to employees using a company car. Please click below for more information. | | | |
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Is your business running as efficiently and strategically as it could be? | |
Being a business owner can feel lonely, constantly wondering what you might have missed, or whether hidden opportunities could help unlock even more potential. With recent and upcoming regulatory changes, it's crucial for business owners to stay informed and prepared.
The UK government's significant reforms underscores the need for proactive planning and compliance to ensure your business's financial health and resilience.
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Take our Strategic Business Health Check today to see how you can maximise your potential. | |
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James Cowper Kreston is a leading firm of accountants and business advisers with offices across the South of England. We deliver focused, innovative advice to a diverse range of businesses and individuals helping our clients to maximise their potential.
If you have any questions about the topics covered in this newsletter or want to explore how we can help you please contact us here:
Email: info@jamescowperkreston.co.uk
Call: 01635 35255
James Cowper Kreston
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The information in this newsletter must not be relied on as giving sufficient advice in any specific case.
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