2012/13 tax gap

HMRC have announced the latest tax gap figures. The tax gap, which is the difference between the amount of tax due and the amount collected, was 6.8% of tax liabilities, or £34 billion, in 2012 to 2013.... Read Full Article...

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Parties for employees

With the season for workplace parties fast approaching we thought it would be a good idea to remind you of the tax implications of these type of events. The good news is that, unlike entertaining customers, the... Read Full Article...

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Acas guidance on new shared parental leave rules

Acas have issued a new guide to help employers and employees to understand the practicalities of the Shared Parental Leave (SPL) Regulations. The operation of the new rules, which apply to parents of babies due on or after... Read Full Article...

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VAT on ‘snowballs’

HMRC have published a Brief which advises that ‘snowballs’ are zero rated for VAT purposes. Following the decision of the First Tier Tribunal HMRC have issued guidance on the VAT treatment of ‘snowballs’. The case concerned the... Read Full Article...

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HMRC to collect more debt through tax codes

HMRC can currently collect debts of up to £3,000 by adjusting an individual’s Pay As You Earn (PAYE) tax code which applies to their employment or pensions income. This collection method is known as ‘coding out’. The... Read Full Article...

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IR35 Business Entity Tests

The ‘IR35’ rules are designed to prevent the avoidance of tax and national insurance contributions through the use of personal service companies and partnerships. The rules do not stop individuals selling their services through either their own... Read Full Article...

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HMRC Credit Card Sales Campaign disclosure opportunity

HMRC have launched yet another disclosure opportunity this time aimed at undisclosed credit card sales. The Credit Card Sales Campaign is an opportunity for those affected to bring their tax affairs up to date if they are... Read Full Article...

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Pension flexibility

The Government has announced that people who wish to access their defined contribution pension flexibly will be able to go to a local Citizens Advice Bureau across the UK for expert free and impartial face to face... Read Full Article...

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Latest labour market employment figures

The Office for National Statistics has announced that the latest statistics, based on the period May to July 2014, show that employment continued to rise and unemployment continued to fall. According to the ONS: ‘There were 30.61... Read Full Article...

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Deadline for ‘paper’ self assessment tax returns

For those individuals who have previously submitted ‘paper’ self assessment tax returns the deadline for the 2013/14 return is 31 October 2014. Returns submitted after that date must be submitted electronically or they will incur a minimum... Read Full Article...

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