High Income Child Benefit Charge

Sep 05, 2016

A reminder, that if either parent’s income exceeds £50,000 this will affect eligibility for Child Benefits.

A tax charge, known as the ‘High Income Child Benefit Charge’ (HICBC), is payable…

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New successes for HMRC in the courts

Sep 05, 2016

HMRC seem to be making progress in their attempts to discourage, and recover unpaid tax, from participators in tax avoidance schemes.

In a recent high profile case, HMRC have recovered more…

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Tax Diary September/October 2016

Sep 05, 2016

1 September 2016 - Due date for Corporation Tax due for the year ended 30 November 2015.

 

19 September 2016 - PAYE and NIC deductions due for month ended 5 September 2016. (If you…

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Offshore tax evaders to face new sanctions

Sep 01, 2016

Tax evaders are set to face tough new sanctions under plans detailed by HM Revenue and Customs today.

The proposals will mean that those who do not come forward and pay outstanding taxes…

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Child benefit changes

Aug 31, 2016

If you’re a parent and receiving Child Benefit, you need to inform HM Revenue and Customs of your child’s educational status before 31 August.

If you are receiving Child Benefit and Child…

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What is Bona Vacantia

Aug 25, 2016

Bona Vacantia is a Treasury Solicitor’s department that manages unclaimed estates. This includes not only the estates of individuals who die without any heirs, but also the residual assets of limited…

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Going digital

Aug 23, 2016

The government have backed down from their proposal to dump a new raft of compliance activity (red tape) on smaller businesses. In their efforts to digitise each businesses’ records with HMRC it was…

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HMRC wins major tax avoidance cases

Aug 18, 2016

One tax avoidance scheme, by Ingenious Film Partnership, tried to use artificial losses arising from investments in a range of movies, including the blockbusters Avatar, Life of Pi and Die Hard 4.

Users…

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Buy to let red tape

Aug 16, 2016

Beset by a range of potentially, disastrous tax changes (primarily the withdrawal of finance charges as an allowable deduction – reduced instead to a basic rate tax credit), landlords of buy-to let…

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