Posts Categorized: Uncategorized

Things You Need To Know About Tax Avoidance

Tax avoidance used to be tolerated by the Taxman. This is because the Taxman was more concerned in dealing with those who are guilty of intentionally doing it before. However, HMRC is now after tax dodgers in the likes of politicians, celebrities and even small businesses. HMRC investigations have resulted in the collection of an… Read more »

Auto-enrolment Duty

The Pensions Regulator’s annual commentary and analysis report states that more than 70% of all new businesses will have staff they need to put into a workplace pension. This statement clearly shows that auto-enrolment has overturned the decline in workplace saving. The number of staff that was saving into a workplace pension has increased to… Read more »

Gift Aid Small Donations Scheme Guidance Made Clear By HMRC

Updated guidance has been issued by HMRC regarding the Gift Aid Small Donations Scheme (GASDS). The new guidance enables a charity or Community Amateur Sports Club (CASC) to claim top-up payments on small donations of up to £20. It also includes revisions to the section covering community buildings. Under the new rules, a charity with… Read more »

Inadequate Retirement Income from Auto-enrolment Pensions

The number of employees signed up to auto-enrolment pensions has reached 7.5m based on the figures from Association of British Insurers. However, the low level of contributions by employees and employers is still too small to provide adequate future pension cover. The premium income has also increased to £13.4bn in 2016 from £1.3bn in 2015…. Read more »

End of Traditional Tax Return Confirmed By HMRC

The new simple assessment system is designed to end the traditional tax return process. Taxpayers who usually provide information under the self-assessment will no longer need to do so. This is because the returns will now be pre-populated with existing data that HMRC holds. This option will apply to two groups starting from September 2017:… Read more »

Increase Your Child Benefit Through Pension Contributions

Working families that are under the higher tax bracket are missing out on up to £171m a year by failing to recognise the connection between their pension contributions and their child benefit. A parent of a family who earns more than £50,000 a year faces a high income child benefit charge of 1% of their… Read more »

HMRC Dawn Raids Increased By 34% in Five Years

HMRC has been conducting more dawn raids in the last five years, increasing from 449 in 2011-2012 to 669 in 2016-2017. The increase has been part of HMRC’s efforts to suppress on white collar tax evasion. Once they have obtained a warrant, HMRC usually carry out the search of a property where they suspect tax… Read more »

Tax Refunds From HMRC Have Been Delayed

Taxpayers who have been waiting for refunds of their overpaid tax have been hit by delays. People who are due a repayment have been posting on a social media site that they are still waiting weeks after applying for a rebate online. It is believed that this is a cause of HMRC struggling to cope… Read more »

Research and Development Incentive

How Business Can Reap The Rewards Of Innovation In 2000, a UK tax legislation was introduced in order to encourage businesses to increase investment in innovative activities. This UK tax legislation is the R&D tax relief that offers significant benefits for business advancing science and technology. This will help organisations to significantly reduce their corporation… Read more »