3 easy steps to keeping what’s yours.
If you are self-employed (a sole trader or a member of a partnership), or the director of a limited company, you must always fill in a SA100 tax return. If you receive untaxed income from savings or property, chances are you will also need to fill in a return.
From 7 January 2013, people who earn more than £60,000 a year will no longer be entitled to child benefits, while those earning between £50,000 and £60,000 will see their benefit removed on a sliding scale, depending on their exact earnings.
Make sure you don’t cut into your annual take-home pay by being forced to hand over hundreds of Pounds in tax penalties, which most likely could have been avoided in the first place.
HMRC will send out thousands of letters this week, urging taxpayers to deal with any outstanding tax returns – including any that are still outstanding for previous tax years.
The Taxpayers’ Alliance has joined forces with the Petrol Retailers’ Association to put pressure on the government to cut or freeze fuel duty until 2015.
According to a recent study done by www.unbiased.co.uk, Britons have failed to claim an estimated £12.5 billion in tax credits, including £7.3 billion in income-related tax credits.
If you’re a contractor in the UK, and you need to make payment on account to HMRC through self assessment, it is important to make the second payment before 31 July 2012.
The UK government announced on May 29 that it has canned plans to tax pies, pasties and sausage rolls. Since March this year, the government has been facing heavy criticism over the proposed tax, particularly because it seemed to be targeting working-class families. Cameron essentially wanted to close a loophole which allows bakeries in the […]
It is estimated that 1 in 3 people who work or have worked in the UK are due tax back and there are literally million of Pounds lying at Home Office waiting to be claimed.
As part of his drive to tackle the budget deficit, George Osborne’s statement on the 21st of March announced revised details of his plans to cut child benefit payments, which will result in parents earning 60,000 pounds or more losing the benefit altogether. Osborne admitted that his original plans to take child benefit away from […]
Spring is in the air and the new tax year is around the corner! Now is the perfect time to understand the effect of George Osborne’s Budget 2012, review your own or your business’s financial circumstances and make the necessary changes to ensure you get the most out of 2012!
With the end of the tax year on us, we’ve rounded up the 4 basic considerations for alleviating your tax burden.
If you’ve applied for your UK tax refund through 1st Contact Tax Refunds, you could be in line to receive back some of your hard earned money!
If you worked in the UK at any time during the 2005/2006 tax year, you should apply for your refund as soon as possible. The UK tax office has recently shorted the reclaim period from 6 to 4 years. The new time period will begin in April 2012, allowing a short grace period for claims from 2005/2006.
We have heard from HM Revenue and Customs (HMRC) this week that it is preparing to send out tax rebates totalling £2.5 billion between now and the end of next year, as it clears its backlog of pay as you earn (PAYE) open cases for the tax years 2003 to 2008.
The European Commission has recently given the green light to the UK government’s measures aimed at increasing tax relief for people who invest in fast growing small firms. The measures, first announced in the annual budget speech in Spring, will now come into effect, as part of the Government’s plans to create employment.
Take our Refund Potential Quiz to see if there is a nice sum of money waiting to be claimed by you!
IR35 legislation is once again in the spotlight after another tribunal hearing has ruled against HMRC in favour of the independent contractor, finding him to be “legitimate”.
Around half a million taxpayers did not receive their Self Assessment Tax Forms in time to submit and pay by the 31st of July this year. HMRC on their website said that “no one needs to worry about this” and apologised for the delay, presumably caused because the Revenue ran out of paper.