Personal Tax, Stamp Duty Land Tax and miscellaneous matters Personal Tax allowance The personal allowance for those born after 5 April 1948 will be: For 2014-15 - £10,000 For 2015-16 - £10,500 Income Tax rate bands There was significant press commentary prior to the Budget announcements lobbying for an increase in the threshold at which tax payers are liable Continue Reading
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HMRC to use Mr Bean film makers
In a bizarre attempt to create positive PR for HMRC, Channel 4 has been given unprecedented access to HM Revenue and Customs as they pursue tax evaders and collect unpaid tax. Tiger Aspect Productions, the production company behind Mr Bean, will be filming HMRC staff as they target the so-called high risk sectors: the building trade, health sector, off-shore bank Continue Reading
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Treasury hungry for ideas
George Osborne is delivering his Budget speech Wednesday of this week. It will be interesting to see if his plea for ideas to help smaller businesses has received a sympathetic ear. Here’s what a number of organisations have requested: British Chambers of Commerce The BCC have made three recommendations: A £100m scheme to pay businesses £1,000 if they hire long Continue Reading
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HMRC still can’t tell the difference between tax evasion and avoidance
Just in case you have missed the news – that HMRC are stepping up their campaigns to stop tax avoidance and evasion – you may be interested to read the following quotes from HMRC and the Treasury: “Issue The difference between the revenues that in HM Revenue & Customs’ (HMRC) view should come in, and the total actually collected Continue Reading
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