The Association of Chartered Certified Accountants (ACCA) have warned of the pitfalls of individuals completing their self-assessment tax returns themselves:- Hundreds of thousands of extra people are expected to complete a self-assessment tax return for the first time by 31 October, including people who have won...
Company directors who take a proportion of their salaries as dividends could be building up a significant liability if things do not go according to plan, warns insolvency experts, Cranfield Business Recovery. It is usually common practice for accountants and financial advisers to recommend owner directors...
Early glitches in the new Real Time Information (RTI) reporting of weekly and monthly payroll submissions have led many workers to be issued incorrect tax codes from the HMRC. As a result, many workers will end up paying too much tax until they or their...
During the 2012-13 tax year, many either unpaid workers (interns) or low paid workers earning below the national minimum wage have received what they are due after numerous investigations by the HMRC:- More than 26,000 workers denied the national minimum wage by unscrupulous employers have received...
The HMRC have issued a warning for individuals to be wary of any scam emails suggesting that you may be due a refund of tax or tax credits:- Tax credits claimants are being warned about scam or ‘phishing’ emails sent out by fraudsters in the run-up...
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...
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...