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The government should make cuts to taxes on business in next month's budget, according to Liam Fox. Writing in an article for the Financial Times, the former defence secretary called for the government to cut employers' national insurance...
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The 50p tax rate is failing to generate the expected amount of revenue, according to official figures. In January, the Treasury received £10.35 billion in income tax payments from those paying by self-assessment last month, a fall of £509...
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UK resident individuals have to make a distinct break with the UK if they want the UK tax authorities to treat them as non-residents, the Supreme Court has confirmed. The decision in the long-running appeal by the expatriate businessman Robert Gaines-Cooper...
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Wealthy people who own overseas property will face extra scrutiny from a new 200-strong team of HMRC investigators and specialists. The first to be targeted will be people with assets worth between £2.5 million and £20 million.
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Smaller businesses are under the cosh, with many battling reduced sales and squeezed funding. Although premiums involve outlay, business protection makes more sense than ever.
For partnerships and shareholders, cover can mean the...
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HMRC recently updated its list of scale rate payments that can be used when reimbursing accommodation and subsistence expenses that employees incur when travelling overseas.
Payments within these rates avoid income tax and national...
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The world of pensions continues to change rapidly, with more changes from April and further announcements from the Government.
The start of the new tax year on 6 April marks several important changes to pensions:
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Commercial property is an investment sector that has largely avoided the recent market volatility.
While the world’s stock markets experienced regular and dizzying bouts of volatility in 2011, UK commercial property returns were...
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The Chancellor’s Autumn Statement had a few surprises to set against the gloomy economic forecasts.
The Autumn Statement, together with a raft of draft legislation issued a week later, has revealed a good slice of what will be in...
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Are you newly self-employed? You may not have to pay your first tax bill until 22 months after you started your business and HMRC has recently published a new leaflet to help budget for this. Based on estimated earnings it shows the amount that should be...
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Did you know that HMRC now review its advisory rates for reimbursement of fuel used in company cars on a quarterly basis? The rates review quarterly, but there are no longer any changes for price fluctuations. The rates from 1 December 2011 to 29 February...
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Although the Payments Council has reversed its decision to scrap cheques, the Council’s description of them as being in ‘terminal decline’ looks accurate, even if they can be useful on occasions.
The total number of...
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With the prospect of tax cuts increasingly distant, year-end tax planning has become more relevant than ever in cutting your contribution to the Exchequer.
Chancellor George Osborne’s past two Budgets have introduced a wide range...
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It’s bonus season again, and bonuses are a contentious subject around the turn of the year.
There is a widespread view that in some areas of the financial world – notably investment banks – they are too high. However,...
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The carrot
HMRC raised over £10 million from more than 1,500 disclosures made under the Tax Health Plan, but the tax authorities are looking to raise yet more from the plan. The plan ran until 30 June 2010 and gave medical professionals the...
