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Tax

Tax too taxing for 20 million British workers

20 million British workers do not know the basics when it comes to the amount of tax they pay, according to a new report compiled by cloud based accountant Boox. This year, 10.9 million people will be expected to complete self-assessment tax returns – more than ever before.

Benefits capped for 33,000 households

Almost 33,000 households had their benefits capped by November 2013, new figures reveal.

Government ends 'family tax penalty' for hardworking families

Communities Secretary Eric Pickles hails the introduction of a national Council Tax discount worth £5.3 million for family annexes.

Tax cheats named by HMRC

Names of tax cheats have been published on the HMRC website.

High VAT Rates ‘Restricting International Growth’: E-Commerce Roundtable

An e-commerce roundtable discussion that took place in Brighton recently found that many digitally-based enterprises are reluctant to expand into certain international markets due to a high VAT rate for businesses.

Clampdown on tax avoidance on UK property

Schemes designed to get around the Annual Tax on Enveloped Dwellings will have to be disclosed to HMRC.

Rising house prices make Inheritance Tax planning a necessity

With over 20,000 families losing £3.1 billion in Inheritance Tax (IHT) in 2012/13, Chartered IFA - The Private Office – has written a free guide offering 10 steps to help mitigate or even eliminate your Inheritance Tax bill.

Fraud crackdown saves taxpayers £6.5 billion

Measures introduced by this government to cut fraud and error have saved £6.5 billion - nearly £400 for every working family in the country.

Parents on higher incomes reminded to register for Self Assessment

This month, HM Revenue and Customs (HMRC) will be writing to around two million higher rate taxpayers, including those affected by recent changes to Child Benefit.

Campaign offers chance to settle tax bills

Taxpayers who have failed to submit tax returns are being offered the chance to come forward and pay up under a new HMRC campaign.

No safe havens for offshore tax cheats

HM Revenue and Customs (HMRC) has confirmed that it is working with the United States and Australian tax administrations (the IRS and ATO) on data which reveals extensive use of complex offshore structures to conceal assets by wealthy individuals and companies.

Brits still expect hefty £78k inheritance from parents

Brits still expect hefty £78k inheritance from parents

The majority of Brits ‘expect’ to receive inheritance from their parents – but in reality four in 10 won’t get a penny, according to new research.

Leaving money to charity? Let the taxman help too

With the ever popular Comic Relief seeking to raise another record-breaking total to beat the £102m raised in 2011, it would seem that British enthusiasm for giving has not been dampened by the economic downturn.

Child Benefit reminder for higher income earners

People with an income over £60,000 whose family is still receiving Child Benefit should opt out before 28 March if they wish to avoid filling in a tax return and repaying the benefit for the 2013/14 tax year.

One in three are voting with their wallet following tax revelations

Millions of Britons are using consumer power to boycott companies seen to be avoiding their fair share of UK tax, new research reveals.