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HMRC has saved the taxpayer an estimated £200m by taking three tax avoidance schemes to the courts – and winning all of its cases. The first case involved a scheme that addressed capital gains tax and which, according to HRMC, prevented around £90m finding its way to the treasury. The second case involved the directors […]
The 2009 expenses scandal that exposed many MPs for claiming where they shouldn’t have had the nation screaming for reform. This led to the Independent Parliamentary Standards Authority (IPSA) being set up to oversee the changes that needed to be made – but which, in its turn, is creating unrest with MPs complaining that it […]
Large Businesses Are Exploiting Their Power Small and medium businesses make up 90% of all enterprises globally, and produce 70% of all services and goods, yet, according to the World intellectual Property Organisation, many suffer from the bully-boy tactics of larger and more powerful businesses who are not averse to using their power and cash-flow […]
HM Revenue and Customs have announced that there is going to be a new initiative to help children understand about tax, and the significance it has on the community in which they live. However, there has been widespread controversy about the course after it was revealed that 11-year-olds would be asked to name and shame members […]
Despite the Royal Bank of Scotland and HSBC setting aside billions of pounds for business loans, the Office for National Statistics has confirmed that the current recession in the UK is caused by a lack of credit available to SMEs. With empty shops lining high streets, the number of firms going bust on the rise, […]
Dealing with your tax return is difficult at the best of times, but when it comes to corporation tax, it can often be even more difficult. When it comes to filing and paying this kind of tax, you may easily have trouble – which is why most people choose to hire an accountant for their […]
Corporation tax is actually much simpler than you might think. Basically, this is where HMRC takes a tax on the profits of either limited companies, or specific organisations like associations, societies, clubs, co-operatives, unincorporated bodies or charities. Basically, once these organisations and businesses go over the threshold, they will have to pay tax on their […]
If you intend to sell your business to family in order to keep the company running through the generations, there are a lot of things to consider. In order to make the transition between you and your successor much easier, it is important that you successfully arrange the handover procedure. This process of passing down […]
Roughly 12,000 people in the UK who had been told that they are no longer required to fill in their self-assessment tax forms now appear to have been sent these penalty notices in error. The letters were sent by HM Revenue and Customs, and came after the new £10 daily fine which now occurs for […]