Category Archives: Tax, Audit & Accounts

September 07, 2010

What a debacle!

It seems these days that tax is never out of the news. The biggest story currently being discussed is that around six million people will shortly be receiving a letter from HMRC regarding PAYE (“Pay As You Earn” tax), the system by which HMRC collects tax from employees.
August 18, 2010

Bolt from the blue!

Those with even a passing interest in athletics will have heard of Usain Bolt, currently the fastest man in the world.  However, fast as he is, he isn’t fast enough to escape the taxman in the UK.
July 29, 2010

Death and taxes

A bizarre story emerged recently, one which is so hard to believe it had me checking the diary to see if it was April 1.
June 09, 2010

Capital Gains Tax to change (again)?

We all know that tax rises are on the way but what and where?  One area now being looked at is Capital Gains.  There is talk of a reduction in the tax free allowance from its current £10,100 to just £2,000.
June 01, 2010

Tax Freedom Day!!

I wonder if any readers felt a little better on Sunday?  A little brighter and happier?  Sunday May 30 was ‘tax freedom day’, a concept used by a number of bodies to indicate how much of our nation’s income is taken in taxes by the Government.
May 19, 2010

Emergency Budget

It is clear that the map of the UK taxation system will be torn up and re-drawn over the next few weeks.  Thankfully the new Chancellor has looked at his calendar and avoided an England World Cup game, but is that as far as his foresight extends? My predictions are: 1.
May 14, 2010

A happy ending…

Readers of this blog may recall an earlier entry from me relating to penalties imposed by HM Revenue & Customs (see blog ‘Taxman gets tougher’).  The background was that a self-employed individual without an accountant calculated that he had overpaid £3,000 in tax for the year ending 5 April 2009 and made a repayment claim.
April 23, 2010

Pay up……or else!

I recall reading in the paper a while back about Government outrage at ‘door step’ ‘loan sharks and the high rate of interest they charge on small loans.
April 15, 2010

Taxman gets tougher…..

A story reported recently in the national press is a clear example of the new tough line HM Revenue & Customs are adopting. A self-employed individual without an accountant calculated that he had overpaid £3,000 in tax for the year ending 5 April 2009 and made a repayment claim.
April 07, 2010

Stop Press on Furnished Holiday Lets!

As you are probably aware, Labour planned to scrap the beneficial treatment of furnished holiday lets (“FHL”) from 6 April 2010.  Under the existing rules, FHL were treated as a trade allowing losses to be set against other income and with other tax advantages. But this only applied to UK properties.
1 10 11 12 13 14