HMRC ticked off by National Audit Office

Jun 02, 2016

The National Audit Office (NAO) has published a report criticising HM Revenue and Customs (HMRC) for periods of poor customer service last year.

Responding to the report, Ruth Owen, HMRC’s…

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Expanding your Income Tax bands

Jun 01, 2016

For the tax year 2016-17, most taxpayers are entitled to claim a tax-free personal allowance of £11,000 from their taxable income. The maximum income that can be taxed at the basic rate of 20%, after…

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More on the taxation of dividends

Jun 01, 2016

In the context of this article tax credit does not refer to the child or working tax credits – these are part of the benefits system. Tax credits in this article refer to a deduction made from your…

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Stamp Duty increase penalises home buyers

Jun 01, 2016

There has been much press commentary regarding the extra 3% Stamp Duty Land Tax (SDLT) and the 3% Additional Dwelling Supplement (ADS) – part of the Land and Building Transaction Tax in Scotland –…

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What is a CT61

Jun 01, 2016

Although most banks and building societies do not have to deduct Income Tax from interest payments they make to depositors from April 2016, the same does not apply to others that pay interest.…

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Tax Diary June/July 2016

Jun 01, 2016

 1 June 2016 - Due date for Corporation Tax due for the year ended 31 August 2015.

 19 June 2016 - PAYE and NIC deductions due for month ended 5 June 2016. (If you pay your tax electronically…

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State benefits that are taxable

May 26, 2016

Many newly retired pensioners may not be aware that the State Pension they receive is taxable income. Also, the amount paid is not taxed at source. Although a pensioner’s State Pension may be covered…

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Small businesses take on more staff

May 24, 2016

According to new government research published recently shows that almost a quarter (24%) of small and medium-sized (SME) employers had more people working for them in 2015 than in 2014.

The…

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HMRC issues warnings and advice regarding fraudulent emails

May 19, 2016

There is a continuing misuse of emails and SMS messages that purport to be from HMRC asking questions about your tax and encouraging recipients to part with their personal information and bank details.

HMRC…

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