Car tax evasion rate soars partly due to new tax rules
The Department for Transport has revealed new figures that show that the rate of untaxed vehicles has increased to 1.4% during 2015 from a figure of 0.6% in 2013.
Taxpayer wins claim for special relief
A taxpayer has won an appeal to be given special relief for tax owed to HMRC.The first-tier tribunal ruled that HMRC was wrong not to grant special relief on their claim to recover unpaid tax of about £17,000 owed.
Buy-to-let landlords suffer stamp duty hike
Buy-to-let landlords have been dented by the government’s 3% stamp duty increase. Property investors were named the ‘biggest losers’ as the government makes the property market more attractive.
2015 Autumn Statement: GAAR gets more teeth
George Osborne gave the General Anti-Abuse Rule (GAAR) teeth with new penalties in autumn Statement.Corporation tax was barely mentioned in the speech, although various anti-abuse measures were highlighted.
Individual Taxpayer will be required to report & pay liabilities quarterly by 2020
Morsels of information in the Autumn Statement report indicate that by 2020 individual taxpayers will be expected to report and pay their liabilities every quarter via their new digital tax accounts.
Osborne ‘sleepwalking into a catastrophe’
The managing director of Danbro, an accountancy firm specialising in freelancers, has accused George Osborne of “sleepwalking into a catastrophe” over the proposed clampdown on travel and subsistence.
Pfizer and Allergan announce tax-busting merger
Pharmaceutical firms Pfizer and Allergan today announced the biggest healthcare sector merger in history, worth an estimated $150bn (£106bn).The two companies have been in discussions over the merger for a number of weeks.
Fit for work: The new tax and NICs exemption
In January of this year a new tax and NICs exemption crept on to the statute books that could be forgiven for missing given the multitude of legislative changes that flood our consciousness, reports Kate Upcraft.
HMRC unveils plans for 13 regional centres
HMRC set off a flurry of news headlines this morning by unveiling its plans to close 137 local offices over the next 12 years and to reorganise its teams into 13 regional centres.
MPs condemn HMRC performance
The Public Accounts Committee (PAC) has published a scathing report on HMRC’s performance, accusing the tax authority of being unfit for purpose and “failing UK taxpayers”.
HMRC updates gift aid rules
Charity shops must be clearer about the tax implications of buying their products, HMRC has said in new guidance on donations to charity.It explain how the tax system operates for charities, including how to set up and run a charity.
The new divident tax has arrived. As from 6 April individuals can earn up to £5000 in dividend without any income tax charge, but any amounts received above this level will be taxed 7.5%, 32.5%, 38.1%.