Tax News
Tax helpline for people affected by flooding
HMRC has set up a new Helpline for anyone affected by the recent floods.
Tax help for those affected by floods
The Chancellor of the Exchequer, Alistair Darling, today announced that HM Revenue and Customs (HMRC) will introduce a series of measures for individuals and businesses affected by the recent severe flooding.
HMRC Standard Report and Accounts 2006-07
HM Revenue & Customs (HMRC) Chairman Paul Gray said today's NAO report into HMRC's accounts shows that the Department is getting it right in many ways.
Proposed tax reforms
Graeme Robb of James Hay’s Technical Unit comments on the proposed tax breaks announced by the Conservative Party: “The tax system in some respects already rewards marriage, and more recently civil partnerships.
Lloyds TSB to make tax returns less taxing
Lloyds TSB has launched a new service designed to take the hassle out of completing tax returns. The comprehensive service which is available online, over the phone and by mail includes a review of a customer’s individual tax position and preparation of annual tax returns.
Accuracy in processing Income Tax
Income tax is processed accurately in the majority of cases by HM Revenue & Customs, but errors in processing lead to the wrong amount of tax being paid by around 1 million taxpayers, the NAO says today.
Axe your tax burden ahead of Tax Freedom Day
With the only two certainties in life being death and taxes, and the inevitable Tax Freedom Day looming on 1st June 2007, Bradford & Bingley reveals that a little careful financial planning can go a long way to reducing the average Briton’s tax burden.
Citizens Advice response to Tax Credit statistics
Katie Lane, Policy officer, Citizens Advice comments: "For the third year running two million families have been overpaid by the tax credits system and we are still seeing thousands of very distressed people suffering hardship and debt as a result.
Improvement to administration vital to meeting targets on child poverty
Commenting on today's publication of official data on tax credits overpayments and underpayments, Child Poverty Action Group's Chief Executive, Kate Green, said: "It is vital that families are paid the right amount at the right time.
New tax repayment form (r40) now available
HM Revenue & Customs (HMRC) has redesigned its R40 'Tax Repayment Form' to make it easier for customers to understand and complete.
Almost 60,000 more businesses now eligible for simpler VAT
More businesses across the UK can, from this month, benefit from easier ways to deal with VAT, following changes to one of the schemes aimed at helping small and medium-sized firms to better manage their cashflow.
Employers: Beat the deadline and file now
Employers who haven't yet filed their 2006-07 Annual Return need to do so by 19 May.
Citizens Advice: Response to Tax Credit report
Katie Lane, Policy officer, Citizens Advice: "Thousands of families are still being let down by the tax credit system and urgent change is needed to help those experiencing huge problems.
Improving tax credits system vital to ending child poverty
Commenting on the report published today by the Public Accounts Committee on Tax Credits, Child Poverty Action Group's Chief Executive, Kate Green, said: "The great success of tax credits has been the role they have played in lifting 600,000 children out of poverty. But their administration still needs significant improvement as errors and overpayment recoveries have caused hardship to thousands of families.
Ordinary savers and pensioners bear brunt of £3bn share tax
Stamp duty on share transactions is damaging the economy, eroding pensions and savings and hitting investment according to new Oxera research.