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Tax News

Huge increase in UK tax burden

Friday 14th June 2013

The tax burden on Britain’s largest retailers has increased 65% since 2005, a new PwC report shows......

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Pay growth reaches record low

Friday 24th May 2013

The latest data released by the Office for National Statistics showed annual growth in average regular pay falling to just 0......

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Another clampdown on tax cheats

Wednesday 15th May 2013

HM Revenue and Customs last week confirmed it is working with the United States and Australian tax administrations (the IRS and ATO) on data which reveals extensive use of complex offshore structures to conceal assets by wealthy individuals and companies......

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'Huge step forward in fight against tax evasion'

Wednesday 8th May 2013

Chancellor of the Exchequer George Osborne has strongly welcomed news that all British Overseas Territories with significant financial centres have signed up to the Government's strategy on global tax transparency, marking a turning point in the fight against tax evasion and illicit finance......

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Record haul from wealthy taxpayers

Thursday 2nd May 2013

A specialist unit dealing with the country's wealthiest taxpayers brought in a record £220million of extra tax last year, HM Revenue and Customs has revealed......

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Taxman issues new warning on late returns

Tuesday 23rd April 2013

From 1 May, HM Revenue and Customs will charge a £10 daily penalty for each day your online return is late, up to a maximum of 90 days......

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Tax evaders told to come clean

Friday 19th April 2013

Tax cheats who have been hiding investments and assets in the Isle of Man, Guernsey or Jersey to evade tax are being asked to pay the tax they owe before HM Revenue and Customs (HMRC) clamps down on them......

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New tax change warning

Thursday 14th March 2013

With just one month to go until the start of the biggest shakeup of the Pay As You Earn (PAYE) system in nearly 70 years, HM Revenue and Customs (HMRC) is urging employers to get ready......

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Welfare and tax bombshell for families

Thursday 14th March 2013

Government welfare and tax changes, together with lower than forecast wage growth, will leave the majority of children in the UK living in families below the breadline by 2015, according to the TUC......

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Shelter hard earned savings from tax man

Wednesday 13th March 2013

Savers making the most of their full cash ISA allowance every year since they were introduced in April 1999 would be £4383 better off than if the same amount was put in an easy access savings account, according to analysis by MoneySupermarket......

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HMRC names and shames tax cheats

Wednesday 27th February 2013

Names of deliberate tax defaulters have been published on the HM Revenue and Customs (HMRC) website for the first time......

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Europe takes UK to court over reduced VAT rate

Wednesday 27th February 2013

The European Commission has referred the UK to the EU Court of Justice for its reduced VAT rate on the supply and installation of energy-saving materials......

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Tax warning for direct sellers

Wednesday 27th February 2013

People who sell directly to customers and who haven't paid all the tax they owe have one week left to take part in an opportunity offered by  HM Revenue & Customs (HMRC) to get their tax affairs in order, on the best terms available......

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Taxman takes tougher stance to catch rich

Friday 18th January 2013

The tax team dedicated to ensuring the better off play by the rules is set to expand, HM Revenue and Customs has announced......

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Tax bill adds up to £190,400 by age 50

Friday 9th November 2012

The average 50-year-old has paid £190,400 in direct taxes by the time they celebrate their 50th birthday - equivalent to around three-and-a-half times more than they've invested in their pension, new analysis from MetLife shows......

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Taxman's court victory on stamp duty dodge

Friday 21st September 2012

HM Revenue & Customs has won a key court case defeating a widely-marketed scheme to avoid stamp duty land tax......

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Higher rate taxpayers to avoid child benefit tax

Tuesday 28th August 2012

A quarter of higher rate taxpayers expecting to have their child benefit payments reduced due to new tax rules which come into force next year, may boost their pension contributions to avoid the tax......

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New tax return penalties being sent to 0.5 million non-filers

Tuesday 14th August 2012

Around half a million people who still haven’t sent their 2010/11 tax returns to HM Revenue & Customs (HMRC) will start to receive additional penalty letters from this week......

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The rich need to pay more tax, says Mark Haddon

Monday 13th August 2012

Mark Haddon, author of the award-winning ‘The Curious Incident of the Dog in the Night-Time’ has stated that rich people need to pay more tax to save those less well-off from being hit by government spending cuts......

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Sir Elton John sues The Times over articles claiming immoral tax avoidance

Monday 13th August 2012

The Times ran two articles with the by-line of  "the secrets of tax avoiders". Sir Elton John has filed Papers at the High Court claiming that the said the article implied he been advised to engage in tax avoidance......

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BBC accused of tax dodge

Monday 13th August 2012

The BBC have had to respond to accusations that their method of paying their TV and radio presenters via ‘personal service companies’ amounts to a ‘tax dodge’......

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Google Tax Storm Grows in Strength

Monday 13th August 2012

Despite making over £395 million last year, Google only pays £6 million in taxes. This has led to anger amongst British politicians and a possible formal investigation into its tax schemes......

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