Category: Tax

The Government has recently proposed a measure to give HMRC the power to recover unpaid tax over £1,000 from taxpayers’ private bank accounts. This new power will only be used where the taxpayer has ignored several demands for payment and the taxpayer’s bank account should not be reduced below £5,000 by HMRC. It would appear … Continued

There have been a number of high-profile celebrities who have been involved in tax avoidance schemes that have been successfully challenged by HMRC in the courts. New legislation in the latest Finance Bill will require “followers” of schemes that have been successfully challenged by HMRC to amend their tax returns in the light of the … Continued

If you are constructing a new dwelling, it is always worth checking that the conditions are met to allow the property to be treated as new build. If the conditions are not met HMRC will reject any claim for VAT made under the DIY House Builders scheme. This is also an important point for builders … Continued

If you are constructing a new dwelling, it is always worth checking that the conditions are met to allow the property to be treated as new build. If the conditions are not met HMRC will reject any claim for VAT made under the DIY House Builders scheme. This is also an important point for builders … Continued

The Let Property Campaign gives you an opportunity to bring your tax affairs up to date if you’re an individual landlord letting out residential property in the UK or abroad and to get the best possible terms to pay the tax you owe. If you owe tax on your letting income you’ll need to tell … Continued

The Audit Commission has claimed that fraud in the care system has almost doubled in a year as middle-class families attempt to hide their assets from HMRC. The watchdog recorded an 82% rise in the amount lost to councils last year as families avoided nursing-home fees or failed to report the death of a loved-one … Continued

To find out more information please follow this link How to Hold a Buy to let Property

Domicile and residence can each have a significant impact on how much UK tax you must pay, or indeed if you must pay UK tax at all. Both terms are used for tax purposes and have little to do with citizenship or nationality. A guide to the differences between residence and domicile for tax purposes … Continued

As an employer, you may often be willing to lend company money to a director or employee. This could be to help them pay for a season ticket to commute to work, to help an employee relocate to a new area, or to help a valued employee get over a financial difficulty. There are, however, … Continued

From October 2014, around 24 million people will receive a personal tax statement from HMRC detailing how their taxes were spent, the Chancellor George Osborne has announced. This is 4 million more people than was originally announced at the Budget 2012. The additional people are PAYE taxpayers who have had recent contact from HMRC setting … Continued