Tag Archives: HMRC

When contacting HMRC can be taxing

A report into HMRC effectiveness by the National Audit Office (NAO) has received near universal headlines highlighting chaos, a collapse in customer service and the potential for errors in millions of tax returns. Whilst HMRC failings in service are highlighted … Continue reading

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Beware the one year window

With the deadline for submitting self assessment tax returns rapidly approaching, we have had a timely reminder of the importance of submitting returns on time. Those wanting to submit a paper return had until last October to do so, leaving … Continue reading

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2011, a taxing time

As we say goodbye to 2011 and start digesting the many hundreds of pages which make up the draft legislation for the 2012 finance bill; it is perhaps worth taking stock of the year just past and reflecting on what … Continue reading

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Property tax evasion taskforce

Earlier this month, HMRC announced the launch of a task force wit the brief of tackling “tax evasion on property transactions in Greater London”. The taskforce is to target cases where there is a deliberate failure to comply with the … Continue reading

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HMRC targets those with homes overseas

The days when overseas property and investments were largely invisible to the UK tax authorities are well behind us. International treaties together with the availability of computerised records mean that HMRC are able to access vast amounts of information about … Continue reading

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Business records and tax returns

Self Assessment tax returns With only a couple of weeks left to get paper self assessment tax returns in on time, HMRC are reminding taxpayers that if they do want to submit a paper return they need to do it … Continue reading

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The Tax Gap

There is a famous saying about lies and statistics which is often quoted when anyone doesn’t want to believe the statistics they are being presented with. Indeed, it is true that how you present statistics is as important as the … Continue reading

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Manufactured Overseas Dividends

The Government has taken immediate steps to clarify the tax treatment of Manufactured Overseas Dividends (MOD) by publishing draft legislation to be incorporated within the 2012 Finance Bill. The legislation will take effect for MOD paid on or after the … Continue reading

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Defined Benefit Schemes

Defined Benefit schemes have taken a hefty knock in recent years. These schemes, otherwise known as Final Salary Schemes, promise an employee a set percentage of their salary on retirement. Usually calculated in 60ths or 80ths the percentage is often … Continue reading

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Tax Treaties Anti-Avoidance legislation

N.B. On 9 September 2011 the Government announced that in view of concerns raised it has “decided not to proceed further with the consultation on the proposed legislation and will not include it in Finance Bill 2012.” The recent announcement … Continue reading

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