Archive of HMRC
HMRC Giving Out 850,000 Late Tax Return Penalties over the Next Fortnight
22 February 2012
Fewer self-employed Brits handed in their tax return in late this year in comparison to last year because HM Revenue & Customs is issuing a scarcer number of penalties. HMRC have stated that they will be giving out 850,000 fines over the next two weeks which is 550,000 less than in 2011. But there is ...
50p tax rate set to stay until 2015
25 January 2012
The top rate of tax of 50% for those that earn over £150,000 a year will not be abolished in the near future according to newspaper reports. It was believed that the rate could be cut to 45p either this year or in 2013, but the government has now dismissed this possibility, reports the Daily ...
Government to do more to reclaim business tax
07 January 2012
Following a report from the Public Accounts Committee which said that the HMRC was more lenient with larger companies when it comes to tax payments, the government has pledged to do more to stop tax avoidance by big firms. Contractors and smaller businesses are concerned that deals have been negotiated by HMRC workers with large ...
Tax return deadline approaching
29 December 2011
Contractors that are required to submit a tax return need to be aware that the deadline for returning their online form is only a few weeks away. The deadline for returning paper forms was October 31, but the last day to complete and send off the online form is January 31. However, if you want ...
MPs say taxman is too lenient with big companies
20 December 2011
A report from the Public Accounts Committee has found that the HMRC was willing to change the rules for larger companies on tax payments providing favourable treatment compared to that offered to small companies, the self employed and normal taxpayers. The group of MPs that compiled the report found that the taxman had “cosy” relationships ...
