News
Personal Tax
Only 10,000 used the offshore tax amnesty before expiry date
07 January, 2010
Treasury's Stephen Timms confirmed that just 10,000 have used its latest offshore tax amnesty known as the New Disclosure Opportunity, which expired on January 4.
Tax Return Self-assessment deadline 31st January
04 January, 2010
Contractors and freelancers who have not submitted their self-assessment tax returns to the HMRC had better do so now as the 31 January deadline is approaching fast.
HMRC is reviewing inheritance tax
14 November, 2009
Prediction by a law firm has it that the HMRC (HM Revenue & Customs) will be clamping down on inheritance tax. This could mean estates will face heavy fines.
Tax Information Sharing Rules pressed ahead by EU
11 November, 2009
Anders Borg - Minister for Finance will chair the ECOFIN meeting on Tuesday 10 November 2009. One of the key issues to be discussed is the further handling of the financial and economic crisis.
The taxman can now pitch up without warning
06 August, 2009
The HMRC has now got powers to visit and inspect business premises, and obtain information from a taxpayer, without giving notice.
HMRC Tax amnesty has been labelled as unfair
05 August, 2009
Confirmed details are now available on the design of the New Disclosure Opportunity (NDO) in an HMRC news release and on the HMRC website.
Accountants may have to disclose client details says the HMRC
13 July, 2009
The HMRC has recommended a new rule that would compel accountants to disclose the details of any clients who participate in schemes that avoid paying the 50% income tax rate.
First of September revealed as amnesty date for overseas account holders
09 July, 2009
Permanent secretary for tax at HMRC, Mr. Dave Hartnett, has confirmed a national campaign that will include newspaper advertising to promote the new amnesty - otherwise known as the NDO.
Treasury’s new 50% tax rate unfair
23 June, 2009
Recent reports have labelled the Treasury's new 50% tax rate as "unfair, complex, inefficient and damaging".
Non-residents tax rules tightened by HMRC
15 June, 2009
The HMRC has tightened the tax rules for non-residents who may now have to pay more tax.