Category Archives: Tax, Audit & Accounts

July 20, 2012

Hate to say I told you so…

Hate to say I told you so…. In September of last year I commented on the large increases in the HMRC penalties for failing to submit a personal Self Assessment tax return on time and predicted people being hit badly by what seemed an overly harsh regime.
July 15, 2012

Paying your “fair share”

You may have read or heard in the media Government outrage at the way in which some very wealthy people were using tax reliefs to (legally) reduce the amount of tax they pay.  I confess to some bemusement at this outrage as I thought that what was tax reliefs were for.
March 20, 2012

Tomorrow’s Budget…

Tomorrow sees the Budget (although we seem to know everything about it already).  Whilst readers wait for the actual day, I thought some trivia might be of interest: The word “Budget” comes from the French ‘‘bougette’‘, meaning a little bag, which explains why the Chancellor ‘‘opens’’ his budget.
March 02, 2012

In the news – Glasgow Rangers

Glasgow Rangers’ recent tax problems cannot have passed unnoticed and many must be wondering what has been going on.
February 11, 2012

Tax Freedom Day 2012

For those not familiar with the term, ‘Tax Freedom Day’ is a term used to show how long each year the average UK taxpayer would have to work if they had to hand over everything they earned until all Government spending was paid for.
January 17, 2012

Cheating the revenue

Readers may have read in the press about the conviction for ‘cheating the revenue’ of a professional tax advisor, David Perrin of Vantis Limited. If ever there was an unacceptable face of tax planning this would be it.  Perrin’s plan revolved around the fact that people can get tax relief for donating shares to charities.
November 02, 2011

It’s just not logical…

If you haven’t sent in your 2010/11 Self Assessment return, you now must send it online if you want to avoid a penalty, as the 31 October deadline for paper returns has now passed.
October 12, 2011

HMRC acting unfairly (again!)

Another tax case of interest has been decided recently in the First Tier Tribunal of appeals in favour of the taxpayer. This concerned an appeal against a £400 penalty for failing to deliver a PAYE end of year return.
September 27, 2011

Out of control?

Greatly increased penalties now exist for submitting personal tax returns late to HMRC and it seems to me that those least likely to be able to afford them are most likely to incur them.
September 05, 2011

More information passing to HMRC?

From 1 September applicants for mortgages should be aware of the Mortgage Verification Scheme under which their proposed lender may be passing information on to HMRC.
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