Plumbing is the focus of HMRC’s new tax ‘amnesty’, as the department continues its drive to stamp out evasion.
The initiative follows the tax health plan (THP), which was launched last year as an opportunity for doctors and dentists to reveal details of unpaid tax liabilities at the reduced cost of [...]
Continue Reading →The year 2010 is more than usually complicated from the tax point of view because of the change of Government and the introduction of an Emergency Budget.
The March Budget introduced a number of measures intended to continue the policy of stimulating the economy by keeping public spending substantially above public revenue. The new Government [...]
Continue Reading →PERSONAL TAXATION 2010/11 2009/10 Personal allowance general £6,475* £6,475 aged 65 or over in year
of assessment £9,490 £9,490 aged 75 or over in year
of assessment £9,640 £9,640 age allowance income limit £22,900 £22,900 minimum where income
exceeds limit £6,475 £6,475 Married couple’s allowance
(10% relief) either partner born before
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HMRC are warning of a scam, which has become widespread in recent months, offering a tax rebate from HM Treasury with the aim of stealing users ID and passwords. HMRC report that they would never send out notices of a tax rebate by email or invite anyone to fill in an online form.
Continue Reading →From May 2010 new penalties for late payment of PAYE will be implemented. From then on, employers and contractors may have to pay a penalty if they do not pay the PAYE due each month, on time and in full.
How do the new penalties work?
The penalties will be a percentage of the amount [...]
Continue Reading →End of tax year deadline 5th April – Ways to minimise your tax burden
ISA tax allowances
You can invest £7200 each year, up to £3600 tax free in cash and the remainder in stocks and shares at 10% tax on the dividends.
Pension Boost
Government offers tax relief on personal and stakeholder pension contributions. [...]
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