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- Tax Saving Accountants
- 14 Apr 14
UK Computer Game Tax Reliefs get EU Approval
Tax reliefs for computer game developers that were first proposed in last year’s budget have received approval from the European Commission. The chancellor said of the video games industry in the UK: “This is a key industry of the future and I want Britain to be one of its biggest centres.” The reliefs, which will […]
- Tax Saving Accountants
- 7 Apr 14
VAT Coming for Digital Goods
From next January, VAT will be applied to digital purchases such as downloaded music, ebooks and apps. Currently, the lack of VAT on UK sales of these products is allowing vendors to pay little tax by setting up their offices in jurisdictions such as Luxembourg. Amazon, Apple and many other companies sell such digital goods […]
- Tax Saving Accountants
- 31 Mar 14
More Assets Being Seized to Settle VAT Bills
New data has been released that shows that the number of companies whose assets were seized to settle VAT bills saw a significant increase during the recession. The data has been revealed by Syscap, a notable finance provider. The data shows that in the period during the recession between 2008 and 2013, the number of […]
- Tax Saving Accountants
- 10 Mar 14
UK Steps Up Efforts Against Offshore Account Holders
The UK is to expand its efforts to target holders of offshore accounts who are avoiding UK tax. A new campaign aimed at offshore tax evaders has been launched following the agreement of a new global information-sharing deal. So far 42 different tax jurisdictions have signed up to the new information-sharing initiative, which was agreed […]
- Tax Saving Accountants
- 24 Feb 14
IFS Warns of UK Tax “Punishing” Success
The Institute for Fiscal Studies (IFS) has warned that the government should identify further sources of tax rather than relying on taxation of the country’s high-earners. According to the IFS, the current strategy is an unsustainable method of supporting the UK’s economy and a way of punishing success. Currently, just short of 30% of all […]
- Tax Saving Accountants
- 17 Feb 14
Record Number of Self-Assessments Filed
A record number of self-assessments was filed at the end of January. This comes in part because HMRC stood firm on the 31st January deadline, despite many calling for it to be pushed back until the 3rd of February. With a rise in self-employment in the past tax year and a record number of new […]
- Tax Saving Accountants
- 10 Feb 14
50% Tax Rate “Not Anti-Business” Says Balls
Ed Balls has defended Labour”s pledge to bring back the 50% top rate of tax. In particular, he has insisted it does not mean that his party has an “anti-business agenda.” Ed Balls Wants To See Tax Rates Falling Balls also said that even though those earning over £150,000 would pay more in tax, he […]
- Tax Saving Accountants
- 3 Feb 14
Bitcoin Taxation Under Review
Bitcoin Is Being Used For Tax Evasion & Money Laundering The taxation rate of the popular virtual currency Bitcoin has come under review by HMRC. The review comes amid concerns that the currency could currently be used for tax evasion purposes or even for money laundering. Concerns Raised Against The Attached Bitcoin VAT Rate Concerns […]
- Tax Saving Accountants
- 27 Jan 14
Government Grants Tax Cut of £200 per Employee
The government is set to introduce an employment allowance in April. This will result in a tax saving of £200 for each employee. Thanks to this allowance, employers are set to save nearly £5.5 billion by the end of the current parliament, according to figures from the treasury. The allowance will also reduce employers’ total […]
- Tax Saving Accountants
- 20 Jan 14
690 Convictions for Tax Fraud in 2013
HM Revenue and Customs have confirmed the number of tax fraud convictions made in 2013. It has been revealed that almost 700 perpetrators of fraud where discovered and convicted. Tax Fraud Convictions Have Risen Since 2012 2012 saw only 477 successful convictions as a result of HMRC’s efforts to combat tax fraud. In 2013, this […]