Tax That – Buyer beware the Tax avoidance scheme

Tax That – Buyer beware the Tax avoidance scheme

So today we’re all hearing that Gary Barlow and two of his friends from Take That may have to repay a great deal of tax.  We have also been served with a reminder that tax avoidance of the sort that they took part is not in itself illegal, but that tax evasion is the real crime. Notice that I said “may have to repay this Read more…

Unpaid Tax: An Unfair Pursuit?

Unpaid Tax: An Unfair Pursuit?

Today’s revelation in the press was that Her Majesty’s Revenue and Customs (HMRC) want to go straight to our bank account to collect unpaid tax. Of course we should all pay our tax on time; and in actual fact many of us as employees have no choice in the matter as the tax is deducted from our wages before we receive it. The surprise might be for Read more…

Avoid a Potential 55% Tax Charge on Your Pension Savings

Avoid a Potential 55% Tax Charge on Your Pension Savings

Time is running out for individuals who have substantial pension pots to make a decision on whether or not to protect their pension savings- because the lifetime allowance is being cut from 6 April 2014. The lifetime allowance is an overall limit on the amount of tax relieved pension savings that an individual can build up over their life. A tax charge applies to pension savings above Read more…

New HMRC Taskforce to target undeclared income in South East and South

New HMRC Taskforce to target undeclared income in South East and South

HM Revenue & Customs are targeting tax cheats in the South East and South of England with the setting up of a new taskforce. The task force aims to recover £2.8 million of tax on undeclared income of individuals and businesses. Those living lifestyles beyond their obvious means through assets from undeclared income and offshore accounts will be identified and brought to account through investigations Read more…

Survey seeks views on RTI

Survey seeks views on RTI

Tax experts are urging as many employers as possible to take part in an online survey around Real Time Information (RTI) payroll reporting.

HM Revenue & Customs (HMRC) has launched the survey to gather the experiences of employers – along with those of software and payroll service providers – in reporting payments to employees on or before the date of payment.

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The great problem of rules

The great problem of rules

What do Starbucks and Jimmy Carr have in common? It sounds like a bad joke you may have received in your Christmas cracker but the serious answer and potentially greater moral question it poses is that neither have been found guilty of illegal tax evasion. When I was younger I used to play some rather complex tabletop games and one topic caused arguments over all Read more…

Seeing the wood for the trees

Seeing the wood for the trees

It can be easy to ignore a problem and hope that it goes away – but eventually, it becomes evident that you have to roll up your sleeves and deal with it! If your problem is cleaning the bathroom (even after having all the family in the house over the Christmas period) then that’s not too bad, but it can be a different matter entirely Read more…

Lifting the lid on UK Patent Box legislation

Lifting the lid on UK Patent Box legislation

The London 2012 Olympic Games have come to a close and it is hoped they will encourage many more visitors from the world, including those looking to set up business here. If that in itself is not enough, this year’s Finance Act 2012 introduced new legislation to enshrine the Patent Box rules into our legislation. However in addition to meeting the conditions needed for the Read more…