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- Tax Saving Accountants
- 23 Mar 15
The UK will be Increasing Fines for Tax Evaders
The UK will soon be increasing penalties for those failing to pay taxes due on money in offshore banks, and will also be levying large fines on companies who try to evade taxes, along with those who help them. These new plans come as a response to the controversy caused by disclosures that HSBC had […]
- Tax Saving Accountants
- 30 Sep 14
David Cameron promises sweeping tax reforms
During a well-received speech at the Conservative Party conference in Birmingham, David Cameron has promised a personal income tax allowance for £12,500, and to raise the 40p tax threshold to £50,000. The Prime Minister said that the move would mean that most minimum wage workers would pay no tax whatsoever. Some 30 million taxpayers would […]
- Tax Saving Accountants
- 23 Sep 14
UKIP set to unveil income tax reforms in party conference
UKIP is set to unveil far-reaching reforms to income tax – with those earning as much as £55,000 set to pay 35p of tax for every £1, instead of 40p. Led by Nigel Farage, the controversial party has received a surge of popularity recently. On Friday, it is set to announce that it would raise […]
- Tax Saving Accountants
- 16 Sep 14
G20 in joint efforts to shut international loopholes
Bad news for multinational corporations may be on the horizon. New rules from the Organisation for Economic Co-operation and Development could mean that online giants such as Amazon and Google will be forced to disclose where their profits were made, and where their taxes were paid. This could lead to the many loopholes in tax […]
- Tax Saving Accountants
- 31 Aug 14
How would tax rates be affected by Scottish independence?
The story that has been on everybody’s lips has been Scottish independence – and whether there’s a Yes or a No vote, there could be tax changes afoot. If Scotland decides to go it alone, Holyrood would be able to decide its own income tax rates, not to mention VAT and corporation tax. Lowering the […]
- Tax Saving Accountants
- 24 Aug 14
HMRC ‘should be banned from misleading Parliament’
HMRC has been accused of misleading Parliament, its MPs and the public after it inaccurately suggested it was collecting billions of pounds in extra taxes. One expert, Sir Andrew Dilnot, wants the taxman to be banned from confirming how much revenue it collects in the wake of the scandal. In the 2011/12 tax year, as […]
- Tax Saving Accountants
- 17 Aug 14
Entrepreneurs To Get Taxes In Order As Self-Employment Hits Record
The Self Employed Will Have To Pay Income Tax Professionals who are going self-employed for the first time are being warned to make sure that they are fully prepared to pay tax. The number of people who work for themselves is at a record high in Britain – with 4.5 million now proud to call […]
- Tax Saving Accountants
- 5 Aug 14
HMRC plans to tighten offshore tax evasion
A new criminal offence is being considered by HMRC, which would see offshore tax evaders face tougher sanctions when they try to conceal their wealth. However, most of these cases would be dealt with via civil means. The taxman has launched a new consultation which targets those who move assets between countries on a regular […]
- Tax Saving Accountants
- 28 Jul 14
By 2033, one in three of us will pay 40p tax rate
In its latest forecast, the OBR said that more than 9 million people could be landed with the 40 per cent tax rate, with a further 1.7 million losing 45% of their earnings. This is on the assumption that their respective thresholds continue to rise along with inflation. In an interview with The Telegraph, the […]
- Tax Saving Accountants
- 21 Jul 14
HMRC boss defends her £20,000 bonus
Bonuses at HM Revenue & Customs have fallen under scrutiny – after its chief executive pocketed an extra £20,000 despite a massive error which saw the taxman drastically overestimate the extra revenue it had collected. Lin Homer has insisted that she deserves the bonus, even though she already earns a salary estimated at £185,000. Many […]