Tax
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.
HMRC Twitter brings in the New Year
HMRC has begun trialling the use of Twitter, in the lead up to the 31 January Self Assessment deadline, with the username @hmrcgovuk.
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.
Warning on paper tax returns
HM Revenue & Customs (HMRC) has issued a warning to anyone who hasn't yet sent in their 2009/10 Self Assessment tax return - file online, or you could face a £100 penalty.
L&G tax-favoured qualifying regular investment plan
Legal & General has launched the ‘Portfolio Regular Investment Plan' (PRIP), a qualifying regular premium investment plan.