Many businesses unaware of the criminal offences associated with tax evasion
Three-quarters of businesses are unaware of the corporate criminal offences relating to activity which is seen to facilitate tax evasion. On 30 September 2017, the Criminal Finances Act was introduced; which meant companies and partnerships can be found liable for
Read more...Tax rates rise twice as fast in the UK than the international average
According to the Organisation for Economic Co-operation and Development (OECD), UK tax revenue as a percentage of GDP rose to 33.3 per cent in 2017. This was up from 32.7 per cent in the previous year and was more than
Read more...Landlords need to be aware of these important issues this year
Britain’s buy-to-let market is constantly changing and evolving and landlords who want to get the most out of their investments need to keep on top of what’s new. In recent years, changes to Stamp Duty Land Tax (SDLT), mortgage interest
Read more...Property investments once again hit by new tax rules
In the last few years the property sector has been hit by a number of new tax rules, but now there are two new things on the horizon that landlords must consider. Rent-a-Room Scheme The current Rent-a-Room scheme offers people
Read more...Reminder on changes to Corporation Tax notices
On 19 September 2016 HM Revenue & Customs (HMRC) decided to stop sending out paper copies of several important documents relating to Corporation Tax. Despite this move taking place nearly two years ago, a quick search online indicates that many
Read more...UK’s tax gap continues to fall
Figures released by HM Revenue & Customs (HMRC) show that the UK’s tax gap – the difference between tax owed and actual receipts – is continuing to fall. The Revenue has revealed that the tax gap for the 2016-17 tax
Read more...Replace Inheritance Tax with ‘lifetime receipts tax’, argues thinktank
With the issue of intergenerational fairness continuing to be high on the agenda, a thinktank has suggested that the Treasury returns to the drawing board when it comes to taxing bequests and inheritances. Instead of Inheritance Tax (IHT), the Resolution
Read more...Gifts out of income and their benefits to beneficiaries
Giving away surplus income as a gift to family members is often touted as an excellent way of planning for the future and as a way of reducing liabilities on a person’s estate. But how do the rules regarding gifts
Read more...Don’t become complacent over exposure of estates to Inheritance Tax
We are urging people not to become complacent about the exposure of their estates to Inheritance Tax (IHT), as the tax-free threshold for certain estates continues to rise. There was an increase in the Residence Nil-Rate Band (RNRB) at the
Read more...Don’t forget the Self-Assessment deadline
While most people will be focused on the festive celebrations at this time of the year, businesses and their owners must not forget the all-important Self-Assessment deadline. The deadline for sending 2016-17 tax returns to HMRC is midnight on 31
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