Tax Returns: HMRC warning to 300,000 late filers

About 300,000 people who have failed to send in their tax returns for 2010-11 may have their goods seized. The UK tax body is sending warning letters to those who have now run up late-filing penalties of £1,300 for that…

Tax Returns filed on Christmas Day surge 40%

HMRC reports 40pc surge in tax forms filed on Christmas Day. Bigger penalties for those filing late tax returns appear to being having an effect after 1,548 people completed the forms online on December 25. It said 1,548 people completed…

Tax crackdown on buy-to-let landlords and Scottish alcohol industry

Latest HMRC taskforces aim to recover about £17m, including from people letting properties and not disclosing income The Scottish alcohol industry and buy-to-let landlords in south-east England are the latest sectors to be targeted in a continued crackdown on tax…

Taxman brings in extra £500m from wealthy

The strong high net worth unit, comprising of 380 staff, was set up by HM Revenue & Customs in 2009 to oversee tax collection from the UK’s 5,000 taxpayers, with assets of £20m or more, and was expected to generate £100m…

Saving for a rainy day?

The global super-rich elite had at least $21 trillion (£13 trillion) hidden in secret tax havens by the end of 2010, according to a major study. The figure is equivalent to the size of the US and Japanese economies combined. Those…

Now higher-rate taxpayers are in HMRC’s sights

Higher-rate taxpayers who haven’t submitted tax returns are being offered the opportunity to come clean and pay tax owed in return for lenient treatment. The amnesty, announced by HMRC as part of a clampdown on tax evasion, is aimed at…

Higher Rate Taxpayers missing out on additional tax relief – claim the relief on your tax return.

Higher rate taxpayers are losing a collective £296m a year because they fail to claim higher rate tax relief on their pension contributions, new research has found. According to independent research, the average higher rate taxpayer loses £1020 a year…

Ebay Traders targeted by tax man – file your tax return quickly !!

Self employed eBay trader… We can prepare and file your tax return online for just £99.00… If you are a regular self employed eBay trader and haven’t been declaring your income, you may be in for an unpleasant surprise. Ebay traders…

500,000 tax payers face £1300 ! penalty from HMRC for failing to submit their tax return

About 500,000 people are being sent notices of penalties of at least £1,300 for failing to submit their tax returns. The HM Revenue and Customs (HMRC) penalty is made up of £900 in daily fines alongside a late-filing penalty of…