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- Tax Saving Accountants
- 24 Aug 12
So you think you can avoid the taxman…?
HMRC has saved the taxpayer an estimated £200m by taking three tax avoidance schemes to the courts – and winning all of its cases. The first case involved a scheme that addressed capital gains tax and which, according to HRMC, prevented around £90m finding its way to the treasury. The second case involved the directors […]
- Tax Saving Accountants
- 17 Aug 12
MPs still having a taxing time
The 2009 expenses scandal that exposed many MPs for claiming where they shouldn’t have had the nation screaming for reform. This led to the Independent Parliamentary Standards Authority (IPSA) being set up to oversee the changes that needed to be made – but which, in its turn, is creating unrest with MPs complaining that it […]
- Tax Saving Accountants
- 31 Jul 12
HMRC accused of making kids ‘spy’ on tax evaders
HM Revenue and Customs have announced that there is going to be a new initiative to help children understand about tax, and the significance it has on the community in which they live. However, there has been widespread controversy about the course after it was revealed that 11-year-olds would be asked to name and shame members […]
- Tax Saving Accountants
- 24 Jul 12
Credit restrictions on SMEs harming business growth
Despite the Royal Bank of Scotland and HSBC setting aside billions of pounds for business loans, the Office for National Statistics has confirmed that the current recession in the UK is caused by a lack of credit available to SMEs. With empty shops lining high streets, the number of firms going bust on the rise, […]
- Tax Saving Accountants
- 17 Jul 12
A Fragile Economy Means Companies Need More Government Support
The most recent server from the British Chambers of Commerce has suggested that even though the UK economy remains fragile, businesses are actually growing. The Director General, John Longworth, has called for bold action, claiming that ‘Growth cannot wait’. The BCC survey also found that a small rise in exporting from Britain, both amongst the […]
- Tax Saving Accountants
- 10 Jul 12
HMRC cracking down on tax avoiders
HM Revenue & Customs is beginning to crack down on missing tax returns for the years 2009-2010. Currently, HMRC is unable to predict how many people are involved with missing tax returns, but wants people who have previously kept quiet to come forward and avoid further financial penalties. If you are one of the many […]
- Tax Saving Accountants
- 28 Jun 12
Cautious optimism as unemployment falls
Unemployment figures show a drop of 51,000 to 2.61 million in the three months to April, which gives a jobless figure of 8.2%, according to the Office for National Statistics. The ONS also said that there has been a drop in unemployment figures across all age groups apart from those over 65, and the increase […]
- Tax Saving Accountants
- 20 Jun 12
HMRC clamping down on the rich and famous
HM Revenue and Customs is tired of being taken for a ride by those rich enough to exploit legal loopholes to avoid paying enough tax – and has decided to “take firm action.” Over a 1,000 people, including members of Take That and comedian, Jimmy Carr are suspected of using a variety of schemes such […]
- Tax Saving Accountants
- 14 Jun 12
Shadow Business Secretary wants companies to show us their tax bills
Shadow Business Secretary, Chuka Umunna has suggested that companies should be compelled to reveal their tax bills – and that it should be done in such a way that we don’t all need a degree in accountancy to understand them. Umunna’s proposals have come after the controversies of a number of large companies and their […]
- Tax Saving Accountants
- 7 Jun 12
How Creative Industries Can Benefit From The New Tax Relief Measures
The Treasury has announced tax reliefs for creative industries in a bid to keep them on home turf. Many high-budget TV productions have been filming in locations such as South Africa, Ireland, France and Hungary to avoid the crippling costs of UK production, but it is hoped that tax reliefs will go a long way […]