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- Tax Saving Accountants
- 9 Nov 15
HMRC’s Customer Service Failure Results In Tax Return Fury And Confusion
Millions have been left in the dark regarding their tax returns, PAYE slips and other financial documents due to a huge amount of unanswered HMRC phone calls. In the first half of the year, the HMRC were only able to successfully answer half of all calls made to them, with 39% of inquiries dealt with […]
- Tax Saving Accountants
- 3 Aug 15
HSBC has Great First Half of Year as Pre-tax Profit Climbs to 10%
HSBC is the largest bank in Europe, and pre-tax profit at the bank was up a healthy 10% during the first half of this year when compared with this time last year. The pre-tax profit climbed to £8.7bn ($13.6bn) in the first half of the year, compared with $12.3bn this tie last year, higher than […]
- Tax Saving Accountants
- 16 Jun 15
Miliband Calls for HMRC To Be Independently Reviewed
Momentum is currently growing for an independent review of HMRC, after Paul Aplin (Chairman of the tax faculty committee at the Institute of Chartered Accountants in England and Wales) suggested that HM Revenue and Customs be reviewed in an effort to improve its current performance. Labour leader Ed Miliband has committed to an independent review […]
- Tax Saving Accountants
- 20 Apr 15
Labour Planning a Crackdown on “unfair tax breaks”
The UK Labour Party has promised to crack down on unfair tax breaks, which are used by private-equity and hedge funds, in an attempt to win over voters before the election in May. Labour has also reiterated its plants to introduce a levy for bankers’ bonuses, which would see funds going towards a youth employment […]
- 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
- 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 […]