Millions of Pounds of tax go unclaimed in the UK every year, mostly due to people misunderstanding the tax refund process. Here are the five most common reasons why people, year on year, fail to claim their tax back.
It’s a new tax year, so it’s time to start claiming back your overpaid tax. We’ve put together a neat infographic to show you two expats’ journeys to claiming a tax refund – one with an agency, the other on his own.
In his recent Budget Speech, George Osborne had some good news for UK residents: the Income Tax Personal Allowance will rise to £10,000 on 6 April 2014, and to £10,500 on April 6 2015.
When you apply for a tax refund, you’ll need certain forms in order for everything to run smoothly. These UK tax forms are usually given to you by your employer or sent to HMRC , depending on your circumstances. Here you’ll find a quick guide to forms P45, P60 and P11D.
HMRC has again issued a warning to UK residents to beware of phishing emails pretending to be from HMRC. By responding to this type of email, you risk opening your bank account to fraudsters and organised criminal gangs.
The 2014 Budget Speech took place just a few hours ago, and with it came a string of forecasts for the year ahead. Our Accounting team have unpacked the contents of Chancellor Osborne’s red briefcase to see how today’s speech affects you.
Inland Revenue holds over three million Pounds in unclaimed tax every year, most of it meant for people who assume they aren’t eligible for a tax refund. If you can answer yes to any of the questions below, there’s a good chance you’re due a tax refund.
The Tax Credits Order 2014 is draft legislation currently up for review in parliament. In a nutshell, it’s an amendment concerning when HMRC should accept a late tax submission appeal as being on time.
A tax rebate may feel like a bonus, but it’s important to remember that it’s still your money. Here are seven (responsible) ways to spend your tax refund.
HMRC has issued a stern warning to both small and big-time tax evaders: “If you have any income you haven’t told us about, you need to declare it before we catch you.”
The HMRC is planning to close all 281 of its walk-in tax enquiry offices in May 2014, replacing them with a telephone service and “mobile advisers”.
The Self Assessment tax return deadline is almost upon us. If you haven’t completed your online return by midnight on the 31st January, you face a minimum penalty of £100 – even if you don’t owe any tax. We’ve compiled nine easy tips to help you survive this deadline.
With the 31st January Self Assessment tax deadline looming, it’s important to understand that you will not escape the automatic £100 penalty if you submit late – unless you have what HMRC deems a “reasonable excuse.”
If you’re a self-employed contractor or freelancer, following these five handy tax tips will help you cut down on your tax bill.
Expats are advised to keep a daily record of their visits to and from the UK after the HMRC introduced a Statutory Residence Test to target non-residency tax claims.
Nine million people in the UK are required by law to submit a Self Assessment tax return – you could be one of them without even knowing it.
Chancellor George Osborne gave his much-anticipated Autumn Statement yesterday. Our Accounting team have provided their expert insight into the speech, and how it might affect you.
If you missed the end of October deadline for submitting your paper tax return, you can still complete your Self Assessment return online and submit it by 31 January 2014.
Tax return season is drawing ever nearer. But the sooner you send us your tax information, the more you’ll save.
As part of the UK government’s efforts to clamp down on tax evasion and retrieve around £125bn in tax held secretively in Swiss bank accounts, the UK and Switzerland began the monthly exchange of tax information on 31 July.