Bouquet of flowers from the Tax Man?
Since 2009, HM Revenue & Customs has sent over 106 bunches of flowers to people they have wronged (all at the taxpayers expense). This included one to a woman who had been incorrectly sent a tax bill for £1 Billion! More on this story here
Tax Return Deadline Fast Approaching
The deadline for submitting tax returns for 2013-14 is fast approaching. If you have already submitted your returns online or have been informed by the HMRC that you no longer need to submit returns, then you can relax. If you have not yet filed your returns, you have a few days remaining to file on […]
More people than ever did their tax return on Christmas Day
New figures released by HMRC show that filling your tax return in on Christmas Eve, Christmas Day and Boxing Day is on the increase. Full story here. And dont forget – deadline for your tax return is fast approaching (31st Jan).
HMRC to end fines – under new Government plans
The 20 year old fine for late payment could be radically overhauled with a new penalty points type system. The system would offer a fairer system of fines with those persistant offenders being hit harder than those missing the deadline by just a few days. Read more here: http://www.dailymail.co.uk/news/article-2944790/HMRC-end-100-fines-late-self-assessment-tax-returns-radical-new-Government-plans.html#ixzz3S1KokXwe
VAT Flat Rate Scheme
Usually, how much VAT a business pays or claims back from HM Revenue and Customs (HMRC) is the difference between the VAT they charge customers and pay on their purchases. However if your business has minimal expenditure then there is a VAT scheme that will benefit you. With the Flat Rate Scheme: you pay a […]