News

22-02-2012
Tribunal examines fraud
Missing Trader Intra-Community (MTIC) fraud focuses on the sales of mobile phones and computer software. MTIC fraud also known as 'carousel fraud' usually involves the small high value goods such a... continue reading...

22-02-2012
Tax man pulls the plug
50,000 electricians will receive the dreaded brown envelope shortly to inform them of a new opportunity to regularise their tax affairs. The Electricians Tax Safe Plan (ETSP) is designed for people... continue reading...

22-02-2012
PAYE enforcement gains new teeth
From 6 April 2012, HMRC will have greater powers to help ensure that employers pay their PAYE tax deductions or Class 1 National Insurance contributions (NICs). The new powers will allow HMRC to ob... continue reading...

15-02-2012
New tax investigation campaigns
Three new campaigns are to be launched targeting tax evasion in the UK. The current round of HMRC’s campaigns against tax avoidance goes back to the Offshore Disclosure Facility (ODF) in 2007,... continue reading...

15-02-2012
P45 form to stay
The Government recently published a consultation document on the major changes planned to the way PAYE information is collected. This will see the introduction of a new system where HMRC collects r... continue reading...

15-02-2012
Self assessment online filing statistics
A press release detailing the number of online filings made for the 2010/11 self assessment returns has been issued by HMRC. The use of the online service continues to grow year on year. ... continue reading...

08-02-2012
Employment related loans
The official rate of interest on an employment related loan is to remain at 4% with effect from 6 April 2012. A change in the rate is only made in the event of significant changes in interest rates... continue reading...

08-02-2012
The Annual Investment Allowance
The Annual Investment Allowance (AIA) was first introduced in The 2008 Finance Act and the legislation was incorporated into the Capital Allowances Act 2001. The AIA is designed to give 100% first ... continue reading...

08-02-2012
Tribunal – VAT bad debt relief
The VAT bad debt relief rules seek to deal with issues that can arise when an invoice has been issued to a customer and no payment has been received after a significant period of time has elap... continue reading...

01-02-2012
Submitting online VAT returns
From 1 April 2012 all VAT Returns must be submitted online and payment must be made electronically. This measure completes a process started 1 April 2010 when VAT registered businesses with a turno... continue reading...