Tax
UK’s tax waste mountain grows to £7.9 billion
More than eight in ten (82%) UK adults will waste £7.9 billion in unnecessary tax in 2007, according to Unbiased.co.uk’s fifteenth annual TaxAction report. This is a massive £300 million increase on last year and the highest ever since Unbiased.co.uk’s campaign began.
Friends Provident widens choice for IFAs on IHT Planning
Friends Provident, the FTSE 100 life and pensions company, has added a bare trust to its Discounted Gift Plan (DGP) in a move to provide wider flexibility to IFAs and their clients for inheritance tax planning (IHT) purposes.
Put your bonus in your SIPP now or lose the tax advantage
Recipients of end-of-year bonuses who do not put the cash into their pension pots before the end of the tax year risk losing the opportunity to make the most of their windfalls, according to EBS Management, the pensions arm of Charles Stanley.
Inheritance tax issues for British expatriates in Spain
With 75,000 UK pensioners currently living in Spain, the subject of Inheritance tax for British expatriates is one that needs to be given careful consideration, says Bank of Scotland International.
Are you sure your boss is paying the right tax for you?
A new radio campaign is urging workers who suspect their employer isn't paying tax and National Insurance for them to ring the Tax Evasion Hotline and report them to HM Revenue & Customs (HMRC).
Standard Life announces expansion of trust range
Standard Life has announced the expansion of its trust range with the launch of a Discounted Gift Plan Absolute Trust, giving more choice of trusts for advisers and clients.
Improving competition in trading services
Today, the Economic Secretary to the Treasury, Ed Balls MP, brought representatives from the European Commission together with leading representatives of London's financial sector, while also announcing the implementation of tax measures to boost the competitiveness of the City of London.
Tomorrow’s 21 year olds set to inherit the keys to the door
Two thirds of UK adults (60%) think their children should not inherit aged 18 but should wait until they are 21 or over, according to research by Saga Will Writing and Estate Planning Services. However, a massive 83% of people were unaware that, under new IHT laws, if offspring do not inherit from a trust at 18 years of age then they will now be taxed.
Standard Life welcomes plans to increase IHT reporting limit
Standard Life has welcomed the announcement that HMRC intends to increase the inheritance tax reporting limit for certain types of gift in tax year 2007-08, from £10,000 to £200,000.
To tax or not to tax - a guide to trading online
A new internet-based guide, accessible via the HM Revenue & Customs (HMRC) website for people who trade online is being launched this week (5 February 2007).
Online certificate takes the hassle out of Stamp Duty Land Tax
Practitioners who submit stamp duty land tax (SDLT) returns electronically are benefiting from an enhancement to HM Revenue & Customs' (HMRC) online service.
Online self assessment filing hits new record
A hundred and fifty thousand self assessment returns were received in the 24 hours running up to Wednesday's midnight deadline.
LITRG call for review of VAT reliefs for disabled people
A comprehensive report by the Low Incomes Tax Reform Group (LITRG) is calling for HM Revenue & Customs (HMRC) to review the VAT reliefs given to disabled people.
The £103 billion inheritance tax giveaway
As more people are caught out by inheritance tax than ever before, due to increased wealth and rising house prices, Scottish Widows research reveals Brits are well aware they can’t take it with them when they’re gone, and are planning on giving away £103 billion to friends and family to avoid a huge tax bill on their death.
Deadline for tax returns just 2 weeks away
There are just two weeks left for those people who haven't filed their self assessment tax return to do so, and avoid a £100 penalty for missing the 31 January deadline.