Extract . . . As the tax system gets more complex and HMRC continues to clamp down on tax records Gary Brothers, national director of tax investigations at Mazars and AAT (Association of Accounting Technicians) representative shares with us some thoughts on what to do if you enter a dispute with the taxman and how [...]
Extract . . . The Chancellor is axing a longstanding relief from VAT for goods valued at less than £15 that has been exploited in the Channel Islands by internet retailers serving the mainland. The Treasury is to end the era of cheap DVDs, contact lenses and birthday cards by scrapping an exemption from VAT [...]
Extract . . . First it was restaurants, then bars and hotels, then sectors prone to ‘under-the-counter’ trades like hairdressers and plumbers. Now HMRC has landlords and builders in its tax evasion cross-hairs. Read more here: http://www.managementtoday.co.uk/bulletin/mtdailybulletin/article/1103055/the-taxman-announces-buy-to-let-landlords-next-hitlist/
Continue reading about The taxman announces buy-to-let landlords are next on the hitlist
Extract . . . ‘Yes!’ say France and Germany. It’s a ‘terrible idea’, cry the City sheriffs. Laura Chesters looks at the divisive financial transaction tax, and its implications for the UK Robin Hood tax, Tobin tax, fat tax. Call it what you will, what’s important is that the proposed levy on the City has [...]
Continue reading about A rich-to-poor Robin Hood tax may sound good, but is it?
Extract . . . HM Revenue & Customs will unleash 200-strong team of investigators to identify individuals who are avoiding and evading taxes. Wealthy Britons who own property or land abroad are the first group of people to be targeted by a new HM Revenue & Customs ‘affluent unit’ set up to tackle tax-dodging among [...]
Continue reading about Overseas property-owners come under taxman’s scrutiny
Extract . . . HMRC has issued a warning over fraudulent emails, as reports of phishing emails have risen by 300 per cent in the last year. The emails, which claim to be from HMRC, encourage the recipient to click through to a replica of the HMRC website. The website then asks for their credit [...]
Extract . . . The Office of Tax Simplification (OTS), the independent body set up by the Government to streamline business tax, has put forward two new proposals to help smaller firms cope with their taxation obligations. The first focuses on disincorporation for small companies, the other on a simplified income tax system for sole [...]
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Extract . . . More details have been released on proposed changes to some of the tax reliefs available for firms that invest in research and development, and in new products. The changes come as part of Government plans to make the UK’s business tax system more competitive and dynamic, and to add to the [...]
Continue reading about Research tax breaks to boost innovation
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