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Category Archives: Tax Matters
Electricians targeted by HMRC
HMRC are now targeting electricians as part of their crackdown on unpaid tax by announcing the Electricians Tax Safe Plan (ETSP) set to begin in February 2012. The Electricians Tax Safe Plan follows a similar scheme which targeted plumbers, and … Continue reading
Vince Cable gets Tax Penalty! If only he’d come to ERC…
Vince Cable, government business secretary and doctor of economics, last week had to pay a £500 tax penalty for the late payment of up to £25,000 of VAT. The fine relates to the delayed payment of earnings for his media … Continue reading
IS 50% TAX TO BE SCRAPPED?
Reports today suggest that David Cameron is likely to scrap the 50p top rate of income tax after being presented with figures showing that the higher the rate, the less people pay. Treasury projections found about 70% of revenue can … Continue reading
THE HMRC INSPECTOR CALLS
HM Revenue & Customs (HMRC) is piloting telephone ‘education’ for owners of new businesses. This involves calling the ‘customer’ and offering “…to talk them through some of the main things they need to know as a new business and to … Continue reading
SMES ARE MISSING OUT ON TAX RELIEF
Small UK software developers, amongst others, are missing out on a tax break designed to encourage research and development, according to experts. Companies in the sector are failing to make the most of all the relief available to them, usually because … Continue reading
PRE BUDGET REPORT – LAST CHANCE FOR TAX PLANNERS?
Monday 29th November is expected to be the UK governments opportunity to show its teeth and detail exactly how it will tackle the tax avoidance strategies that are being used regularly by High Net Worth Individuals and people in the … Continue reading
REFERRALS – WHO NEEDS THEM?
Referrals are the key to the growth of any business and ERC is no different. We have been fortunate in the past in that we have some very loyal clients who have passed our details to friends and families and … Continue reading
THE END OF ANOTHER TAX YEAR
April 1st is a special day for all of us here at ERC as it marks our anniversary in business – no jokes please! It’s 32 years since Edward took the brave step of starting up on his own from scratch. Time has … Continue reading
WOULD THE TORIES SCRAP PAYE IF ELECTED?
A recent article has suggested that radical tax reforms are being planned by the Conservatives that would see the biggest changes to the way income tax is collected for more than six decades. The Tories are developing a pilot for … Continue reading
BUSINESS RECORDS WARNING FROM HMRC
HMRC has recently produced a new factsheet called “Keeping records for business – what you need to know” which highlights a probable shift in emphasis for future enquiry cases. The factsheet, together with an HMRC sponsored four-part TV programme to be broadcast on … Continue reading
