All British overseas territories with large financial operations have now signed up to the UK government’s strategy on global tax transparency.
A quick look at the major changes announced in this year’s budget speech.
HMRC has set a new target for answering calls from taxpayers: they aim to answer 80% of calls within 5 minutes.
Would it surprise you to know that there are millions of pounds in overpaid tax lying waiting to be claimed?
Following the budget speech, the press has been full of summaries and analysis of all the big changes.
The Isle of Man government recently signed an agreement with the UK government to automatically exchange a wide range of financial information on UK tax payers.
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!