HMRC is stepping up its existing powers to seize assets for unpaid VAT bills. HMRC has used its powers of ‘distraint’ to seize the assets of businesses in order to recover VAT from businesses that have failed to meet this tax obligation. According to finance provider Syscap,...
The AAT (Association of Accounting Technicians) has shown further commitment toward focusing on the professional ethics for its members The AAT has stressed its commitment to raising the focus on professional ethics in the wake of recent widespread publicity on tax avoidance issues. The pledge is contained...
Any taxpayers who have still yet to file their tax return for the tax year ended 5th April 2012 will be issued stiff penalties from the HMRC. All tax returns for the 11/12 tax year should have been filed by the 31st January 2013....
The once American practice of offering unpaid internships for individuals to gain useful work experience is being investigated by the HMRC as contravening the national minimum wage. HMRC has been sent details of 100 companies accused of illegally using unpaid interns which the government has said...
All payroll liability payments are to be made to a central HMRC bank account with effect from this tax year (all employee pay dates made on or after the 6th April 2013). Please read the HMRC's notice below for further detail of how this...
The HMRC is continuing with its business record checks campaign to see if businesses are complying with their onerous business record keeping obligations. From November 2012, thousands of small business owners and self-employed people across the UK started to receive letters informing them that their business...
Government help is on its way for many families struggling with the huge costs of full-time childcare. The government is to offer working parents tax breaks for childcare, with families able to claim up to £1,200 towards the costs of nannies or nurseries for each child...
The HMRC estimates that over 5 million pounds of tax on property income is lost each year by private landlords failing to disclose their income and thus evade tax. A new crackdown on these individuals starts in the South East:- Around a third of buy-to-let...
If you or your spouse (or live in partner) earn over £50,000 and claim child benefit - you may need to complete a self-assessment tax return. Earnings between £50,000 and £60,000 allows some payments of child benefit but the amount payable is reduced as...
Budget 2013 Report Chancellor George Osborne announced his budget on Wednesday 20th March which contained several changes to the UK tax system. Essentially this budget was fiscally neutral meaning that all tax cuts announced were paid for by tax rises elsewhere. Personal Income Tax The basic personal...