Tag Archive

Getting the Correct Tax Code

Published on March 23, 2012 By admin

The last two years has been a difficult time for the HMRC’s National Insurance and PAYE Service. Soon after its launch vast numbers of incorrect tax code numbers were sent out and it automatically issued thousands of demands for tax that people had no idea. After being stung by criticism, HMRC has become more proactive […]

Get Tax Deduction for Having a Website

Published on February 17, 2012 By admin

Having a website is almost a necessity for any business, but setting one up and maintaining it can be expensive. This article explains as to whether you can get can tax exemptions for developing and maintaining a website. Most businesses can claim a 100% tax deduction for some of the cost of setting up a […]

Tax Relief for Buying Equipment for your Business

Published on January 31, 2012 By admin

Strict rules apply in order to limit tax deductions that employees and directors can claim for work related expenses. The rationale behind tax deductions is that they must be incurred as part of doing the job, but there are exceptions, such as loan interest. Therefore you need to make sure as to what are the […]

Tax Deadline put back by HMRC strike

Published on January 27, 2012 By admin

As a result of strike action planned by HMRC staff, no fines will be handed out to anyone who submits their self assessment tax returns online in the first two days of February. The official deadline for submitting their self assessment tax returns is scheduled for 31 January, but a planned strike for that day […]

Tax Deduction for Overdraft Interest

Published on January 14, 2012 By admin

It’s hardly an unusual situation for a director to incur expenses on behalf of their company and for it to make a reimbursement. The outcome of this arrangement is usually that the company gets a deduction for the cost while for the director the transactions are tax neutral. But if the director takes for example […]

Intensified Crackdown on Offshore Tax

Published on December 15, 2011 By admin

The government in its latest move on hunting for offshore tax evading companies have intensified its effort in bringing the culprits to book.. The unit dedicated for this endeavour is the Offshore Co-ordination Unit of HMRC. Its duty is to scrutinise extra information of UK taxpayers with money abroad.

Filing Your Tax Return Online

Published on December 9, 2011 By admin

When it comes to your tax return, deadline for filing is extremely important. However, most people are complacent of this deadline set by HMRC and ends up paying needless penalties. Therefore, it is important to remember of the advantages that online filing of your tax return can bring you. This process has been facilitated by […]

New Tax Warning Letters for Doctors and Dentists

Published on November 22, 2011 By admin

According to the latest press release by HMRC, about 2,500 doctors and dentists have been targeted by HMRC for possible tax evasion. The warning letters have already been prepared by HMRC and will be sending them in the near future. The alleged tax dodgers will have to pay their dues within 21 days or face […]

Online Access to Tax Records for Every Tax Payer

Published on November 17, 2011 By admin

The government is suggesting that every taxpayer should be given online access to their personal tax records. This is a recommendation outlined by the public consultation on making the tax system easier to understand. The other steps outlined include pre filled tax returns to people in the tax return system. All taxpayers will be sent […]

Tax Evaders to Face Fresh Crackdown

Published on November 9, 2011 By admin

People who own foreign properties and have evaded tax all this time will come under the microscope by the UK tax authorities. People with between £2.5m and £20m in wealth and homes abroad will be the first to be targeted by a recently established unit of tax inspectors. HM Revenue & Customs (HMRC) expresses hope […]