Tax
Brits in the dark about tax allowances
As the end of the tax year approaches, new research from HSBC reveals that more than eight in ten Britons are unaware of the changes that come into effect on 6th April and the majority do not know the tax-free allowances currently available to them on both their incomes and savings.
Keep your details up-to-date with HMRC’s free electronic service
You can let HM Revenue & Customs (HMRC) know changes to your circumstances any time of the day or night, 365 days a year, with its free and secure electronic change of circumstances service.
UK tax payers urged to take advantage of stocks and shares ISAs
Savings and investment specialist Fair Investment Company is urging the 90 per cent of taxpayers who don't already make the most of their full £10,200 tax-efficient ISA allowance to do so before it's too late.
Self-employed tax credit cheats targeted
HM Revenue & Customs (HMRC) has launched a campaign to target and crack down on suspected fraudulent tax credit claims from the self-employed.
Brits gifting thousands of pounds of interest to the taxman
Savers who have taken advantage of their full cash ISA allowance each year since they were introduced in 1999 would be over £3,300 richer than if they had invested an equivalent sum in an easy access savings account, according to analysis by moneysupermarket.com.
HMRC warns against ‘phishy' email scam
HM Revenue & Customs (HMRC) is warning taxpayers to be vigilant following a surge of fake ‘phishing' emails sent out by fraudsters, following the 31 January Self Assessment tax return filing deadline.
Record 6.9 million file their tax returns online
Record numbers of people sent their Self Assessment tax returns online this year, HM Revenue & Customs (HMRC) has revealed.
Offshore tax dodgers run out of time
From 6 April 2011 penalties for offshore non-compliance - for income tax and capital gains tax - will be linked to the tax transparency of the country involved. There will be increased penalties in place for under-declared income and gains from territories which do not automatically share tax information with the UK.
Reap the benefits of tax-free saving with Skipton’s new ISA range
Skipton Building Society has launched a competitive suite of ISA accounts aimed at encouraging people to make more of their tax free savings allowance.
Deadline looms for tax returns
The 31 January deadline is fast approaching for anyone who hasn't sent in their tax return to HM Revenue & Customs (HMRC).
ISA investors pay an unnecessary £80 a year to the taxman
The IMA has revealed that investors using their full ISA allowance to invest in a property fund pay £80 a year in unnecessary tax, which they would avoid in a tax-efficient fund.
Use those valuable tax breaks this year, says Fidelity
With UK taxes at such high levels, as savers and investors we owe it to ourselves now more than ever to get the full benefit from available tax breaks this year.
Tax Freedom Day will be 30 May 2011
Britons will work for 149 days to pay their taxes in 2011, according to respected free-market think tank the Adam Smith Institute. Every penny earned in the UK between January 1 and May 29 will be taken by the taxman to support government expenditure.
New Year tax return reminder
If you still haven't sent in your tax return to HM Revenue & Customs (HMRC), you need to act quickly to avoid a £100 penalty.
Brits to avoid spending in New Year due to VAT rise
Seven out of 10 Brits will be reconsidering making big purchases next year, such as buying a car, because of the 2.5% VAT increase that comes into effect on 4 January 2011, according to research from price comparison site Gocompare.com.