Landlord tax explained When the last chancellor George Osborne announced the change, he implied that the extra tax would hit only higher-earning landlords. It’s true that every mortgaged landlord who pays 40% or 45% tax will indeed pay much more…
With the 31 January tax return deadline just around the corner, HMRC has revealed the ‘Top 10 oddest excuses’ for sending in a late return. The following bizarre, exotic and flimsy excuses have all been used by tardy taxpayers: My…
Lin Homer: The HMRC chief is urging parents to register for tax self-assessment Tens of thousands of families face hefty fines on top of losing their child benefits after they missed a deadline to apply for a tax return.…
It is that time of year again when the deadline for filing paper self-assessment tax returns is looming. Many people have now become fully familiar with the deadlines and requirements which have been around for a few years. For others,…
THE CHANCELLOR has continued his fight against tax avoidance and evasion in announcing that information exchange agreements had been reached with Crown dependencies. Jersey has become the latest offshore jurisdiction to sign an automatic information-sharing deal with the UK, swiftly…
Well over half a million taxpayers are set to be hit with daily fines of £10 after failing to file their tax returns, The daily fines of £10 start from the 1st May. An estimated 650,000 to 850,000 self-assessment taxpayers still have not…
Late tax return fines and penalties Tax officials are sending nearly one million penalties to taxpayers who failed to file self-assessment tax returns by the end of January. By February 20, HM Revenue and Customs (HMRC) will have completed a…
self-assessment deadline Only 18% of taxpayers still submit their annual returns on paper About 730,000 taxpayers have missed the deadline for filing their self-assessment tax returns, HM Revenue & Customs (HMRC) said. That was fewer than the 850,000 people who…
SELF-EMPLOYED numbers are at a record high and thousands of newly self-employed workers will have to finalise their first tax returns this week ahead of the self-assessment deadline on Thursday. Individuals who are submitting a tax return for the first…
Personal tax highlights …. •Weathly pension savers targeted with £10k reduction in annual allowance for tax to £40,000 in 2014-15 •Lifetime allowance for tax relief on pensions savings will be reduced from £1.5m to £1.25m. •Personal allowances raised an extra…
