Tag Archives: Taxation
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
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
MORE CUTS AT HMRC IS NOT GOOD NEWS!
Tax workers will today stage a protest outside the Treasury to complain about cuts in the opening times of their offices. The Public and Commercial Services union said 58 tax enquiry centres across the UK were having their hours cut, … Continue reading
EMPLOYERS – BE AWARE OF PAYE LATE PAYMENT PENALTIES
Businesses are being reminded that they may face a penalty charge if they are late in paying their PAYE deductions in full. The late payment penalties cover all employers and contractors, and apply to monthly, quarterly and annual PAYE deductions … Continue reading
POSSIBLE VAT REPAYMENT ON PARCEL DELIVERY
HMRC are prepared to consider any reclaim of VAT involving parcel delivery services for the last 4 years. HMRC are therefore acknowledging that VAT may have been included in postal services irrespective of them being described as exempt. In the … 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
HMRC & THE PRE BUDGET REPORT
We have finally received word from the government as to the date for the pre budegt report and we all wait with baited breath as to what gems Darling dreams up for us and the rest of the business world … Continue reading
WARNING – POTENTIAL HMRC ERRORS ON TAX CODES ISSUED
As a word of warning , in the past few weeks we have received coding notices for clients that are clearly wrong. The code on each notice is resulting in some significant tax rebates. On checking the coding notices we … Continue reading
THE NEW TAX PENALTY REGIME
It is no secret that HM Treasury is short of funds. One of the ways they are sure to raise some of this shortfall is with the introduction of the new penalty regime. One of the fundamental principles of … Continue reading
