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Tax Saving Accountants

Record Numbers of Christmas Tax Returns

The number of tax returns submitted over the three core days of the Christmas period has reached a record. The number has been rising for several years, and continued to do so in 2013. The busiest of the three days was Christmas Eve. Roughly 17,000 people chose the day before Christmas to submit an online […]

Tax Saving Accountants

“Overcomplicated Tax Rules” says OTS

The Office of Tax Simplification has said that the rules surrounding employee expenses are a complex “minefield,” and said that they need to be updated. The rules in question have remained unchanged since the 1990s. For example, the OTS has highlighted the example of a restaurant bill. They have suggested it should simply be an […]

fees
Tax Saving Accountants

HMRC “Lose its Nerve” Over Big Businesses

A number of big companies such as Starbucks and Amazon have recently attracted criticism for hugely underpaying UK tax. Now, it has been claimed by the Public Accounts Committee that HMRC tends to lose its nerve when pursuing such big businesses. In their report on HMRC’s annual accounts, the committee said that: “HMRC holds back […]

Importance of Good Credit Control for Small Businesses
Tax Saving Accountants

Extended PAYE Compliance Deadline for Micro-Businesses

Micro-businesses have benefited from an extension to the deadline for compliance with real-time PAYE reporting (RTI) requirements. The deadline has now been pushed back to April 2016. Small businesses with more than 10 and up to 49 employees, meanwhile, have until April 2014 to begin sending information in real time. This deadline is also an […]

Big Ben and Houses of parliament London
Tax Saving Accountants

UK Tax Attractive to Businesses

According to KPMG, the UK’s current tax climate is highly attractive to businesses and is in a good position for attracting large international corporations. However, the way tax issues are covered in the media are reducing the positive effect. These findings are based on data from KPMG’s annual tax competitiveness report. Respondents, when asked to […]

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Tax Saving Accountants

Paperless Self-Assessment Coming

Following an HMRC consultation, it has been announced that paperless self-assessment may soon be introduced. Under this system, all communications from HMRC to taxpayers will take place through electronic methods rather than through the post. At present, only a quarter of communications that HMRC send to ten million self-assessment taxpayers in the UK can be […]

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Tax Saving Accountants

Clegg’s Tax Warning for Foreign Property Investors

According to Nick Clegg, foreign investors who buy luxury London properties could face new taxes. The warning came with the approach of the Autumn Statement. According to Clegg, plans are currently under consideration by the government to introduce new taxes that would affect these investors. Specifically, the government are considering the introduction of new council […]

Impact-Of-The-UK-Being-A-Single-Market
Tax Saving Accountants

The UK’s Tax Agreement With The Cayman Islands

The Cayman Islands have signed an agreement to automatically exchange taxation information with the UK. This has made them the first British overseas territory to sign up to such an arrangement, though similar agreements have previously been made closer to home with Jersey and Guernsey. The signing of this agreement ends the use of the […]

hmrc negligence
Tax Saving Accountants

HMRC Loses Most Staff in Four Years

It has emerged that 2012-2013 saw HMRC lose the largest number of staff in four years. 1697 staff left the tax body in the course of the financial year, which represents a small increase compared to 1629 the year before. These figures were unearthed by research from UHY Hacker Young, a top 20 firm. With […]

Financial Consultancy For Risk Management
Tax Saving Accountants

More Tax Independence for Wales

The Welsh Assembly is to receive greater independent powers when it comes to taxation. The new powers will, subject to the outcome of a referendum, cover a number of levies including income tax and stamp duty. These measures follow the recommendations made by a report which was issued last year. At present, the Welsh assembly […]

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