Tax News
Britons set to waste £9 billion in unnecessary tax payments
With election fever on its way - and with tax a key topic on the agenda - exclusive research by Unbiased.co.uk, the professional advice website, reveals a whopping £9 billion is set to be wasted in unnecessary tax payments this year.
Offshore disclosure deadline looms
People with offshore investments who have notified HM Revenue & Customs (HMRC) that they want to use the New Disclosure Opportunity (NDO) have just one week to make their disclosures online and to pay all tax, duties, interest and penalties owed in full.
Law for naming tax cheats goes live
Taxpayers and companies who deliberately evade taxes face having their name, address and details of their evasion made public after new legislation was put into force today.
Get your 30% tax relief on limited life VCTs before the rules change
This tax year could be your last chance to invest in a limited life Venture Capital Trust and obtain the generous 30% tax relief available, warns Fair Investment Company.
Savers pay £13bn extra tax
The failure of UK savers to use their full ISA allowance could have cost them an estimated £13 billion, according to research by Clydesdale & Yorkshire Banks.
The Business Inspector gets boost from HMRC
A new TV series - "The Business Inspector" - has been sponsored by HM Revenue & Customs (HMRC).
Record 6.4 million file their tax returns online
A record number of taxpayers filed their Self Assessment tax returns online this year, HM Revenue & Customs (HMRC) revealed today.
Christmas and VAT increase boost consumer finance figures
Christmas spending and the rush to beat the VAT increase led to the first growth in consumer finance since April 2008, according to industry figures for November 2009 published by the Finance and Leasing Association (FLA).
HMRC urged to take action over tax code problems
The Chartered Institute of Taxation (CIOT) is calling on HMRC to be proactive and mount a publicity campaign to highlight that wrong information is being sent out to huge numbers of people that, unless corrected, may cost them hundreds of pounds.
ISA benefit barely worth the bother for basic rate taxpayers
Andrew Hagger of Moneynet.co.uk looks at the returns that tax free savings currently offer compared with standard savings products.
Tax return deadline is looming
The 31 January Self Assessment tax return deadline isn't far away, so if you haven't yet sent your return to HM Revenue & Customs (HMRC), you need to act quickly to avoid a £100 penalty.
Tax disclosure deals for all, suggests the CIOT
The recent announcement by HM Revenue & Customs (HMRC) of a ‘disclosure opportunity' for medical professionals (the Tax Health Plan or THP) would logically lead to a similar arrangement being available to all taxpayers as a matter of fairness, says the Chartered Institute of Taxation (CIOT).
Unbiased.co.uk urges consumers to take ‘tax action’
Taxpayers are set to gift the taxman an unnecessary £503 million this year in fines generated by late returns, miscalculations and surcharges on unpaid tax, according to research by Unbiased.co.uk, the professional advice website.
Medical professionals offered Tax Health Plan
Medical professionals are being encouraged under a new Tax Health Plan to tell HM Revenue & Customs (HMRC) if they have understated income.
Higher-rate tax payers unaware of tax relief on donations
As the 31 January deadline approaches for self assessment tax returns, the Charities Aid Foundation estimates that higher-rate tax payers are missing out on over £250m of tax relief on their charitable donations.