NEWS
Find below our latest news articles on accountancy, tax and other key business areas. Our articles cover changing legislation and precedent setting cases.
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PAYE tax refunds and arrears
22 May, 2013
Annual reconciliations of PAYE for the tax year 2012/13 are being issued to some taxpayers using the P800 form. The form shows HMRC’s tax calculations in respect of the tax year ending 5 April 2013. This form is sent to taxpayers after HMRC have
Tribunal - VAT on helicopters
22 May, 2013
The VAT rules, which allowed for full VAT recovery on the purchase of certain business assets used for both business and private or non-business, changed on 1 January 2011. Prior to that date businesses using the Lennartz mechanism could opt to
Offshore tax evasion
22 May, 2013
UK tax authorities have recently announced that they have been working with the United States and Australian tax administrations (the IRS and ATO) to investigate over 400 gigabytes of data as part of global efforts to target offshore tax avoidance
Second list of deliberate tax defaulters published
15 May, 2013
HMRC have published a second list of deliberate tax defaulters. The list includes 15 individuals, businesses and companies and the amounts of tax on which penalties are due and the amount of penalties charged.
A deliberate defaulter is a person who
Fraudulent emails from 'HMRC'
15 May, 2013
Taxpayers are reminded that the problem of fraudulent emails continues. The emails are part of a 'phishing' exercise that use bogus e-mails and websites to trick taxpayers into supplying confidential or personal information. These emails aren’t
Renewing tax credit claims
15 May, 2013
Families and individuals that receive tax credits should ensure that they renew their tax credit claims by 31 July 2013. Claimants who do not renew on time may have their payments stopped.
Claims should be renewed by completing the renewals pack
Tribunal - VAT default surcharge
8 May, 2013
A taxpayer appealed against default surcharges levied by HMRC. A default surcharge is a penalty levied on businesses that submit late VAT returns or late payments. VAT registered businesses are required by law to submit their return and make sure
PAYE Employer Annual Return
8 May, 2013
Employers are reminded that the filing deadline for submitting the 2012-13 PAYE Annual Return is 19 May 2013. The Return including a P14 for each individual employee and a P35 summarising the entire workforce must be filed. The vast majority of
Real Time Information update
8 May, 2013
How are you coping with the new online filing of payroll information?
The introduction of the new system where HMRC collect real time information (RTI) for PAYE has begun. The changes take effect from an employers first payday on or after 6 April
Isle of Man disclosure opportunity
1 May, 2013
The Isle of Man Disclosure Facility runs from 6 April 2013 to 30 September 2016. The disclosure facility provides an opportunity for taxpayers with assets or investments in the Isle of Man (such as undisclosed bank accounts) to come forward and