HM Revenue & Customs is planning to launch a second wave of taskforces designed to nail tax avoiders. Its first such scheme, which introduced 12 of these specialised squads and was launched last year, is apparently expected to net at least £50 million in tax receipts by detecting avoiders and forcing them to pay up. [...]
HMRC has announced an extension to the deadline by which self-assessed tax must be paid. Normally, payments are expected to arrive by the close of today, January 31st, at the latest. However, HMRC has declared an extension to February 2nd, so those who are paying a day or two late won’t be penalised with a [...]
HM Revenue and Customs (HMRC) has launched another campaign to catch tax cheats. Over the next few weeks, HMRC will send out over 40,000 letters to small businesses run by one person that might be avoiding paying the VAT or that might not know that they have exceeded the £73,000 threshold necessary for registering and [...]
Some tax experts have expressed doubt over the effectiveness of a campaign by HM Revenue & Customs (HMRC) to collect unpaid taxes from plumbers in the UK. Letters were sent to 50,000 tradespeople in the plumbing industry, warning them that they would be fined if they did not pay taxes they owed, giving them until [...]
As many as 4.7 million taxpayers in the UK will receive letters this year either sending them a repayment of taxes they overpaid or telling them that they owe HM Revenue & Customs (HMRC) more than they actually paid on their income for the 2010 – 2011 tax year. Those who paid too much can [...]
British taxpayers pay more to the government than taxpayers in almost all of twenty major economies, according to a new report from chartered accountants UHY Hacker Young, whether they are among the highest earners or the lowest-paid workers. Those who earn more than £120,000 annually in Britain end up taking home just 60.9 percent of [...]
