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Working in tax for longer than I am prepared to admit, the one constant is change, and increasing complexity. Many Governments have been and gone, promising simplification of the taxation system and the reality has been the opposite.
You… Continue reading
IR35 accountants – how important are they?
If there is one subject that makes any experienced contractor’s blood boil, it may well be IR35. Indeed, it has been the cause of considerable consternation among contractors for more than a decade now, with the Professional Contractors Group (PCG)… Continue reading
Are you a 50% taxpayer?
One of the most debated tax changes in recent years was the increase in income tax to 50% for those with annual income in excess of £150,000. Continue reading
Would you buy from a company that pays lots of Tax?
This is an interesting question, and an interesting idea that is being discussed by the political parties at the moment is to provide good quality publicity and celebrate companies that make large contributions in taxes and are good corporate citizens whilst showing the companies that practice large scale corporate tax avoidance. Continue reading
Staff jump from HMRC’s sinking ship?
HMRC have suffered a 48% rise in staff resignations in 2011/12 with a total of 1,629 HMRC staff resigning, this is up from 1100 in 2010/11.
Where HMRC seem to have suffered most is in the Personal Tax Department, this department impacts the service that the customers access the most. Continue reading
HMRC target tax schemes
HMRC have over the last few years been targeting schemes where investors have been receiving tax benefits in excess of their contributions to the scheme.
Investors often put up just a fractions of the capital and rely on structured… Continue reading
Can I move from an umbrella company to my own Limited Company?
You may have been contracting for a while using an umbrella company and have decided that contracting is for you, and are thinking of making a longer term commitment and have decided that you would like to have your own limited company as it seems a more beneficial arrangement for the long term, or perhaps you view the umbrella company expensive in terms of tax suffered or accounting charges. Continue reading
A morbid tale
Benjamin Franklin’s famous quote ‘ in this world nothing can be certain but death and taxes’ is often quoted by people to highlight how it is impossible to escape taxes, they will always catch up with you, like death.
But… Continue reading
Significant increase in HMRC house searches as taxman targets tax evaiders
HMRC has performed 192 property searches in the first quarter of 2012, which is three times higher than any quarterly record available.
In 2011/12 there were 499 searches of residential homes and business properties which was a 155 percent increase… Continue reading
Are there any tax breaks for my new business?
This is a question that we often get asked by clients?
A tax break that should be considered especially if you need to employ people is HMRC run as scheme where new businesses can receive a twelve month employer National… Continue reading
