Tax

Know your overseas shopping limits

If you are planning an overseas holiday in the New Year or spending your Christmas money buying goods online from non-EU websites, you need to know how much you can buy without paying import duty or VAT.

VAT surprises highlighted this Christmas

Before the VAT increase hits on January 4 2011, ICAEW is advising us what we do and do not pay VAT on this Christmas.

Get ready for the VAT rise

Businesses are being urged to get ready for January's VAT rise. The standard rate of VAT goes up from 17.5% to 20% on Tuesday 4 January 2011.

Charities missing out on nearly £900 million

Registered UK Charities are losing out on nearly £900 million due to people failing to donate tax-efficiently. Research from unbiased.co.uk, the professional advice website, shows that donors are not making the most of tax breaks and as a result are wasting millions that could be going towards good causes.

VAT is a mystery to one in five Brits

Almost a fifth of the population (18 per cent) don't know what VAT stands for, let alone understand how to budget for the forthcoming VAT rise this January, according to a survey conducted by national charity Citizens Advice.

December tax return alert

HM Revenue & Customs (HMRC) is urging anyone sending their tax return online for the first time to get registered now, in good time before the 31 January deadline.

Student festive helpers could get tax free income gift

Students who work as Santa's helpers, ice rink supervisors and shop gift wrappers are being reminded today that they may not have to pay tax on the income they receive over the festive season.

Government tax avoidance clampdown

David Gauke, Exchequer Secretary to the Treasury, has announced a number of changes to legislation to tackle tax avoidance. Some of these changes will take immediate effect.

Tax credits claimants reminded to report changes in childcare

Tax credits claimants are being reminded that they must let HM Revenue & Customs (HMRC) know within one month of their childcare costs falling or ending. Deliberately failing to let HMRC know when renewing a claim could constitute criminal fraud and result in prosecution.

Self-employed reminded to report income

Self-employed tax credit claimants are being reminded that they should let HM Revenue and Customs (HMRC) know their total profits for 2009/10 as soon as possible.

Are 'fat taxes' the solution?

Findings from Friends Provident's Visions of Britain 2020 report into Health & Wellbeing in the UK show that 44% of people support the introduction of a "fat tax" with over a third (38%) agreeing that the NHS should not prioritise people who fail to look after their health.