News Articles: HMRC

The big tax story over the past few weeks has been the trial of Harry Redknapp and Milan Mandaric who were accused of cheating the public revenue. HM Revenue & Customs argued that payments made by Mr Mandaric from the … Continue reading →

From 1 April 2012 all VAT registered businesses will have to submit VAT returns online and pay and VAT due electronically too. From 1 April 2010 it was compulsory for all businesses with an annual turnover of £100,000 or more … Continue reading →

A union that is seeking to maximise its negotiating power may take industrial action at the time likely to cause the most disruption and HMRC call centre staff have threatened a walk out today, 31 January 2011, the final day … Continue reading →

HM Revenue & Customs have published draft legislation which, from 6 April 2012, would apply a PAYE code number of ‘0T’ rather than ‘BR’ when share-based payments (i.e. securities, interests in securities and securities options) are made to employee after … Continue reading →

HM Revenue and Customs are keeping up the pressure on those who evade their tax liabilities using a carrot and stick approach. Last year saw several tax amnesties or ‘disclosure facilities’ as HMRC prefer to call them, including opportunities for … Continue reading →

One common feature of tax news, especially when a Budget or Autumn Statement is approaching – and the Chancellor will be supplying the latter on 29 November – is an industry or service sector making representations as to why tax … Continue reading →

CentreForum, the dominant Lib Dem think tank, have called for the taxing of pension cash lump sums taken upon retirement.  The proposed move targets those pension pots that fall into the higher tax rate of £42,475. The paper suggests that … Continue reading →

The latest phase in HMRC’s battle with tax evasion is the initialling of an agreement between the UK and Switzerland to subject the undeclared Swiss accounts of UK taxpayers to tax. Subject to Parliamentary approval in both countries, the agreement … Continue reading →

Stamp duty land tax (SDLT) is paid by the purchaser of an interest in land. Although the top rate of 4% for commercial property seems low in comparison to, say, income tax rates of up to 50% – when the … Continue reading →

It appears, with the passing of the deadline, that HM Revenue & Customs have decided not to appeal against the decision of the First-tier Tax Tribunal in the case of Executors of Dennis Golding v HMRC. This case concerned the … Continue reading →