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Current Tax News

The Scotland Act 2012May 16, 2012
The Scotland Act 2012 came into law on 1 May 2012. The Act gives the Scotti...

SDLT on expensive residential propertiesMay 9, 2012
Residential property that is purchased by certain persons (broadly companie...

PAYE Employer Annual ReturnMay 9, 2012
The filing date for the 2011/12 PAYE Annual Return is 19 May 2012. The Retu...

Fraudulent emails from 'HMRC'May 2, 2012
Fraudulent emails are still being sent to taxpayers. These emails aren...

Electricians disclosure opportunityMay 2, 2012
The deadline for electricians to regularise their tax affairs is fast appro...

Late filing of self-assessment tax returnsApril 25, 2012
Taxpayers who have not yet filed their self-assessment returns online for t...

PAYE Employer Annual ReturnApril 25, 2012
All employers are reminded that the filing deadline for submitting the 2011...

UK / Switzerland tax agreementApril 25, 2012
The UK and Switzerland recently signed a landmark tax agreement that will i...

HMRC launch new bereavement services teamApril 18, 2012
With effect from 11 April 2012, HMRC has established a dedicated bereavemen...

Buying and selling goods onlineApril 18, 2012
The deadline for online traders to regularise their tax affairs is approach...

Read more

Newsletter Archive

2011: April 2011

2010: November 2010; September 2010

2009: November 2009; April 2009

2008: August 2008

2007: October 2007; April 2007

2006: September 2006

2005: September 2005; February 2005

2004: October 2004; May 2004

2003: November 2003; April 2003

News

News

The Scotland Act 2012May 16, 2012: The Scotland Act 2012 came into law on 1 May 2012. The Act gives the Scottish Parliament the power to set a Scottish rate of income tax which will be administered by HMRC for Scottish taxpayers. The new Scottish income tax rate is expected to apply from 6 April 2016. If for example, the Scottish Pa...; More

SDLT on expensive residential propertiesMay 9, 2012: Residential property that is purchased by certain persons (broadly companies, collective investment schemes and partnerships with a member who is a company or a collective investment scheme) will be subject to a 15% SDLT charge if the value of the property acquired exceeds £2m. The process of purcha...; More

PAYE Employer Annual ReturnMay 9, 2012: The filing date for the 2011/12 PAYE Annual Return is 19 May 2012. The Return including a P14 for each individual employee and a P35 summarising the entire workforce must be filed. The vast majority of employers are required to file annual and in year forms online. If no return is due, HMRC must be ...; More

Fraudulent emails from 'HMRC'May 2, 2012: Fraudulent emails are still being sent to taxpayers. These emails aren’t genuine HMRC messages and should be disregarded. The emails are part of a 'phishing' exercise that use bogus e-mails and websites to trick taxpayers into supplying confidential or personal information. The 'phishing’ email...; More

Electricians disclosure opportunityMay 2, 2012: The deadline for electricians to regularise their tax affairs is fast approaching. The Electricians Tax Safe Plan (ETSP) is designed for people who work (or worked) installing, maintaining and testing electrical systems, equipment and appliances – and covers any tax owed, for whatever reason. The ET...; More

Late filing of self-assessment tax returnsApril 25, 2012: Taxpayers who have not yet filed their self-assessment returns online for the tax year ending 5 April 2011 face a daily penalty of £10 up to a maximum of £900 i.e. for three months from 1 May 2012. If the return still remains outstanding further higher penalties will be charged from six months and t...; More

PAYE Employer Annual ReturnApril 25, 2012: All employers are reminded that the filing deadline for submitting the 2011/12 PAYE annual return is fast approaching. The filing date for the annual return is 19 May 2012. The Return including a P14 for each individual employee and a P35 summarising the entire workforce must be filed. The...; More

UK / Switzerland tax agreementApril 25, 2012: The UK and Switzerland recently signed a landmark tax agreement that will introduce enormous changes to the taxation of offshore bank accounts in Switzerland from 2013. Under the agreement UK taxpayers will have the option to make a full disclosure of their existing banking relationships in Switzer...; More

HMRC launch new bereavement services teamApril 18, 2012: With effect from 11 April 2012, HMRC has established a dedicated bereavement services team to deal with PAYE and Self Assessment which arise when taxpayers die. The new team arose as a result of an HMRC working group with tax agents and the voluntary sector, to improve HMRC’s service to taxpaye...; More

Buying and selling goods onlineApril 18, 2012: The deadline for online traders to regularise their tax affairs is approaching. The latest campaign to be launched known as the e-Markets Disclosure Facility targets taxpayers who should be paying tax on income they earn from buying and selling goods direct to others using online marketplaces such a...; More

PAYE dodgers targeted by HMRCApril 18, 2012: Since 6 April 2012 HMRC have new powers to ensure that employers pay their PAYE tax deductions or Class 1 National Insurance contributions (NICs) on time. The new powers allow HMRC to obtain a security from employers where there is a serious revenue risk employers won’t pay over their PAYE tax ...; More

Holiday cottage qualifies for business property reliefApril 11, 2012: A recent First Tier Tribunal decision has ruled that a property used as a holiday cottage qualifies for inheritance tax business property relief (BPR). The property was a large bungalow which overlooked the sea and had direct access to the beach. HMRC had denied BPR on the 25% share of a holiday cot...; More

Cap on unlimited tax reliefsApril 11, 2012: The Chancellor announced as part of the 2012 Budget that legislation is to be introduced in Finance Bill 2013 that will seek to apply a cap to income tax reliefs claimed by individuals from 6 April 2013. Such a move would introduce for the first time a limitation to existing reliefs. This cap...; More

Submitting online VAT returnsApril 11, 2012: VAT Returns must be submitted online and payment must be made electronically for accounting periods beginning on or after 1 April 2012. This measure applies to virtually all VAT registered businesses in the UK. Since 1 April 2010, all VAT registered business with a turnover exceeding £100,000 and a...; More

Finance Bill 2012April 4, 2012: The Finance Bill 2012 was presented to Parliament on 26 March 2012. This is known as the first reading and there was no debate on the Bill at the time. The Bill contains the draft legislation for some of the proposals announced by the Chancellor in the 2011 and 2012 Budgets. The Bill is expected to ...; More

Tax credits changes from April 2012April 4, 2012: The child tax credit has been designed to help lower income families with children. The income limit which was £41,300 in the 2011/12 tax year will be lower in 2012/13 for most taxpayers but will be based on personal circumstances. As a rough guide, claimants with only one child may not receiv...; More

Checking employee information is correctApril 4, 2012: The problem of employers providing incorrect or incomplete employee information has once again been highlighted by HMRC. According to HMRC, the introduction of the new system whereby HMRC collect real time information (RTI) for PAYE will be greatly enhanced if accurate employee information is a...; More

Intrastat filing changesMarch 28, 2012: From 1 April 2012 the monthly deadline for submission of Intrastat declaration has been brought forward from the last day, to the 21st day, of the month following the month to which the trade relates. Intrastat declarations for the period 1 to 31 March 2012 are due on 21 April 2012 and all subs...; More

Employer annual return penaltiesMarch 28, 2012: HMRC have faced pressure to change the timing of PAYE penalty notices after a number of recent Tribunal cases highlighted the unreasonable delay taken by HMRC to send a penalty notice to taxpayers. In one recent case the Tribunal judge commented that 'the conduct of HMRC in desisting from sending ou...; More

Online traders disclosure opportunityMarch 28, 2012: The current round of HMRC’s targeted campaigns against tax avoidance started with the Offshore Disclosure Facility (ODF) in 2007. This targeted taxpayers with unpaid taxes linked to offshore accounts or assets. HMRC’s approach since then has revolved around offering specific targeted campaigns rathe...; More

Budget 2012 - Cap on unlimited tax reliefsMarch 22, 2012: The Chancellor announced that legislation is to be introduced in Finance Bill 2013 that will seek to apply a cap to income tax reliefs claimed by individuals from 6 April 2013. Such a move would introduce for the first time a limitation to existing reliefs and the draft legislation to be published l...; More

Budget 2012 - VAT registration and deregistration thresholdsMarch 22, 2012: The taxable turnover threshold, that determines whether businesses should be registered for VAT, will have increased from £73,000 to £77,000 from 1 April 2012. The taxable turnover threshold that determines whether businesses can apply for deregistration will have been increased from £71,000 to £75,...; More

Budget 2012 – Corporation Tax ratesMarch 22, 2012: In a surprise announcement, the Chancellor has announced further changes to the main corporation tax rate which will have taken effect from 1 April 2012. The main corporation tax rate, which had been expected to be reduced by 1%, has now been reduced by 2%. Therefore from 1 April 2012...; More

Budget 2012 – Income Tax Rates & AllowancesMarch 22, 2012: The Chancellor confirmed that from April 2013 the basic personal allowance for those aged under 65 will rise to £9,205, an increase of £1,100. At the same time the basic rate limit will be reduced to £32,245. This increase is part of the Government’s commitment to increase the personal tax allowance...; More

March 2012 Budget SummaryMarch 21, 2012: Budget Report 21 March 2012 George Osborne continued his fiscal campaigning by attempting to juggle tax take, Government borrowing and economic growth. Only time will tell how many balls he will continue to keep in the air and for how long. There are no dramatic tax changes announced in his Budget S...; More

HMRC online services - VATMarch 14, 2012: VAT online service will be unavailable between 00.01 on Sunday, 8 April and 06.00 on Wednesday, 11 April 2012 to allow for IT upgrades. VAT registered businesses will be unable to submit VAT returns, set up direct debits or view their account details online during this period. HMRC rec...; More

VAT liability of photobooksMarch 14, 2012: The Lower Tier Tax Tribunal recently found in favour of the taxpayer in a case which concerned the VAT treatment of photobooks. The Tribunal had to consider whether the photobooks were, as the taxpayer contended, supplies of goods and that those goods were books or booklets zero-rated under VATA 199...; More

Advisory fuel rates for company carsMarch 7, 2012: New advisory fuel rates have taken effect from 1 March 2012. Fuel rates are now reviewed four times a year with changes taking effect on 1 March, 1 June, 1 September and 1 December. Due to the increased review time, HMRC's previous policy whereby the rate could change if fuel prices fluctuated ...; More

Tribunal - VAT default surchargeMarch 7, 2012: A VATdefault surcharge is a penalty levied on businesses that submit late VAT returns or make late payments. VAT registered businesses are required by law to submit their return and make sure that payment of the VAT due has cleared to HMRC’s bank account by the due date. In a recent tax case ...; More

Fraudulent emails from 'HMRC"February 28, 2012: UK taxpayers are being warned about fraudulent emails being distributed as if from HMRC. Some of the latest emails took advantage of the recent January 31 deadline for submitting self assessment returns and informed the recipient that they were due a tax rebate. The emails typically provided a ...; More

Tribunal examines fraudFebruary 22, 2012: 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 as computer chips or mobile phones which are imported free of VAT from other EU member states. The goods...; More

Tax man pulls the plugFebruary 22, 2012: 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 who work (or worked) installing, maintaining and testing electrical systems, equipment and appliances ...; More

PAYE enforcement gains new teethFebruary 22, 2012: 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 obtain a security from employers where there is a serious revenue risk employers won’t pay over their PAY...; More

New tax investigation campaignsFebruary 15, 2012: 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, that targeted taxpayers with unpaid taxes linked to offshore accounts or assets. HMRC’s approach since...; More

P45 form to stayFebruary 15, 2012: 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 real time information (RTI) for PAYE. The system will involve employers sending information about t...; More

Self-assessment online filing statisticsFebruary 15, 2012: 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. This year a total of over 7.65 million online filings were made by the deadline. The deadline for this ...; More

Employment related loansFebruary 8, 2012: 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. The interest rate is used to calculate the benefit in kind charge that arises when directors or emplo...; More

The Annual Investment AllowanceFebruary 8, 2012: 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 year tax relief for qualifying expenditure on plant and machinery. It can be claimed by an individual, ...; More

Tribunal – VAT bad debt reliefFebruary 8, 2012: 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 elapsed. The relief allows businesses to claim bad debt relief and reclaim the VAT paid to HMRC, subject to...; More

Submitting online VAT returnsFebruary 1, 2012: 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 turnover exceeding £100,000 and all newly VAT registered businesses were required to file VAT returns and ma...; More

Commonwealth games tax break announcedFebruary 1, 2012: The Chief Secretary to the Treasury, Danny Alexander, has announced a tax break for athletes that take part in the 2014 Commonwealth games in Glasgow. The move means that athletes from outside the UK will be exempt from UK income tax on any payment in connection with their performance in the UK. Und...; More

PAYE penaltiesFebruary 1, 2012: The tax office has now begun to issue penalty notices to employers that have not filed their starter and leaver forms online in the period 6 October 2011 to 5 January 2012. The penalties for failing to file online range from £100 up to a maximum of £3,000 depending on the number of forms that should...; More

PAYE – share based paymentsJanuary 25, 2012: New regulations were introduced in April 2011 which changed the tax code that applies to certain payments of PAYE income made to an employee after cessation of employment which have not been included in the form P45. The new regulations introduced the '0T' (zero T) code which deducts income tax at t...; More

Fraudulent emails from 'HMRC'January 18, 2012: It is apparent that a significant number of fraudulent emails are still being sent to taxpayers purporting to be sent by HMRC. The emails target taxpayers who may be expecting a refund of tax from HMRC and provide a link to a clone of HMRC's website where the recipient is asked to give their cr...; More

Business records checks under reviewJanuary 18, 2012: The Business Records Checks programme imposes penalties for significant record-keeping failures relating to Income Tax, Corporation Tax and VAT and applies to the self-employed, sole traders and businesses with a turnover of less than €50m and with less than 250 employees. HMRC has confirmed that it...; More

Contractual disclosure facility (CDF)January 18, 2012: A new Contractual Disclosure Facility (CDF) was launched by HMRC on 31 January 2012. The CDF is a facility for taxpayers to disclose serious tax fraud to HMRC. The CDF is only suitable for taxpayers who want to admit to tax fraud. It is not a method to notify HMRC about errors, mistakes or avoidance...; More

Class 2 National Insurance contributionsJanuary 11, 2012: Class 2 National Insurance Contributions (NICs) are paid by all self-employed taxpayers unless they qualify for the small earnings exemption or other exemptions that remove the necessity to pay. Class 2 NICs are payable at a flat weekly rate. Since April 2011, payments for Class 2 NICs became ...; More

New PAYE coding noticesJanuary 11, 2012: New PAYE coding notices are being issued that inform taxpayers of their new tax codes for the tax year beginning 6 April 2012. They will be sent to taxpayers during January, February and March 2012. The coding notices are designed to ensure that taxpayers pay the right amount of tax a...; More

Research and Development (R&D) tax creditsJanuary 11, 2012: Research and Development (R&D) tax credits were introduced for small and medium sized enterprises (SMEs) in 2000 and for large companies in 2002. R&D credits are a corporation tax relief that encourage innovation and enterprise within the UK economy. A number of changes to R & D tax...; More

Labour providers and the Olympic gamesJanuary 3, 2012: It has been estimated that the Olympic and Paralympic Games will involve more than 50,000 contracts, worth about £6bn. The sectors affected range from construction, engineering and manufacturing to creative, merchandising and retail at 34 Games venues around the UK. A news release has been published...; More

Self assessment deadline is approachingJanuary 3, 2012: The deadline for submitting 2010/11 self assessment tax returns online is 31 January 2012. Taxpayers should also be aware that payment of any tax due should also be made by this date. This includes both the payment of any balance of self assessment liability for the 2010/11, plus any payment on acco...; More

HMRC are now accepting faster paymentsDecember 21, 2011: HMRC have announced that with effect from 16 December 2011, they will be able to accept payment via the Faster Payment Service (FPS). The FPS was the first new payments service to be introduced in the UK for more than 20 years. The service enables electronic payments to be made and processed in...; More

Tribunal – late submission of P35December 21, 2011: A tribunal case once again looked at the issue whether HMRC had acted unreasonably in delaying the time it takes to send a penalty notice to taxpayers. In the most recent case heard by the tribunal, the taxpayer received a penalty for late submission of a P35 end of year employer return. The deadlin...; More

Budget 2012December 21, 2011: The Chancellor has announced that the 2012 Budget will be held on Wednesday, 21 March 2012. The date was announced when the Chancellor spoke before the House of Commons Treasury Select Committee. This will be Chancellor George Osborne’s third Budget and will take place on the final Wednesday before ...; More

HMRC use credit agencies to help identify fraudDecember 14, 2011: Two Government departments, HMRC and the Department for Work and Pensions (DWP), have signed a twelve month contract with a leading credit reference agency to help tackle fraud and error. All DWP means-tested benefits will fall under the scope of this collaboration, including Jobseekers Allowan...; More

Tribunal – one business or two?December 14, 2011: A recent case heard by the First Tier Tribunal concerned an appeal against a direction by HMRC that two separate rural businesses should be jointly registered for VAT. The background facts which were not disputed concerned a farm run by the same family since 1936. The farm is currently run by a marr...; More

Draft Finance Bill 2012 publishedDecember 7, 2011: The Government published the Finance Bill 2012 draft clauses, explanatory notes and draft secondary legislation on 6 December 2011. The draft legislation is open for consultation until 10 February 2012 and the draft Finance Bill is due to be published after the 2012 Budget. The Bill and explanatory ...; More

Duty free limits for travellersDecember 7, 2011: If you are travelling abroad make sure you comply with the following duty and tax free allowances. Travelling to a EU country Where tobacco or alcohol is brought in from another EU country no duties or tax will be payable as long as you can demonstrate that the goods are for your own use and ...; More

Rural fuel duty to be reducedNovember 30, 2011: The UK Treasury recently announced that the European Commission had approved in principle a UK government scheme to discount fuel duty for remote island communities. The final Council decision authorising the United Kingdom to apply reduced rates to unleaded petrol and gas oil was made on 24 Novembe...; More

Offshore bank accountsNovember 23, 2011: HMRC have been investigating more than 6,000 UK taxpayers who have or had offshore accounts with HSBC in Geneva, Switzerland for possible tax evasion. HMRC’s new Offshore Co-ordination Unit (OCU) are in the process of writing to these account holders asking them to provide written confirmation that ...; More

New taskforce to target landlordsNovember 23, 2011: A new HMRC taskforce has been launched to target tax evasion by landlords. The taskforce will initially target tax evasion amongst landlords in the North West and North Wales. The taskforce will target landlords that own and/or rent more than three properties. Mike Wells, HMRC's Director of Risk and...; More

Credit unions and co-operatives - new rulesNovember 23, 2011: Credit unions and co-operatives will be able to compete more effectively with the banking industry following the passing through Parliament of The Legislative Reform Order (LRO). The LRO makes changes to the Credit Unions Act 1979 and will come into force on 8 January 2012. The changes will sig...; More

Tax refunds for students and temporary workersNovember 16, 2011: Students and other temporary workers are reminded that they may not be required to pay any income tax on earnings that are below the tax free personal allowance for the year. This is especially important to remember at this time of year when many students and temporary workers take on part-time jobs...; More

New taskforce to target construction businessesNovember 16, 2011: A new HMRC taskforce has been launched to target tax evasion in the construction industry. The taskforce will initially target construction type businesses in the North West and North Wales. The initiative will focus on the self-employed as well as those who run their own companies an...; More

Channel Islands tax advantage to be removedNovember 9, 2011: HMâ€ˆTreasury has announced changes to the low value consignment relief (LVCR) rules that allow retailers based outside the EU to send goods to the UK VAT free. In order to tackle the growing trend of retailers sending large volumes of low value goods from the Channel Islands the use of the LVCR ...; More

PAYE pooling - consultationNovember 9, 2011: Many organisations, such as corporate groups of companies, professional partnerships, charities and public bodies, are made up of a number of separate entities. All separate entities that are employers have their own PAYE reference and are required to make payments and returns to HMRC to meet their ...; More

Tribunal awards costs to HMRCNovember 2, 2011: A Tribunal recently answered a taxpayer's request to provide more details regarding an award of costs to HMRC in relation to a decision which found in favour of HMRC. The decision concerned an appeal by the taxpayer relating to the VAT liability of fruit smoothies. The taxpayer argued that smoo...; More

HMRC win tax residency caseNovember 2, 2011: A long running tax case involving the UK tax residency status of a Seychelles-based British millionaire appears to have come to an end. A recent Supreme Court decision upheld a Court of Appeal decision and found in favour of HMRC. The dispute centred around HMRC’s non-residence guidance that outline...; More

Junior ISA’s launchedNovember 2, 2011: The new Junior ISAs designed to encourage children to save money were officially launched on 1 November 2011. The Junior ISAs will be welcomed by many parents following the phasing out of the Child Trust Funds (CTF) which ceased to be available to children born after 3 January 2011. However, th...; More

Furnished Holiday LettingsOctober 26, 2011: The furnished holiday let (FHL) rules allow holiday lettings of properties, that meet certain conditions, to be treated as a trade for tax purposes. Individuals, partnerships, trustees and companies who let furnished holiday accommodation situated within the UK or elsewhere in the EEA can benef...; More

HMRC tax rebatesOctober 26, 2011: As has been widely reported in the mainstream press, HMRC are currently writing to taxpayers who have paid the incorrect amount of tax due to errors within the PAYE system. The errors are thought to have affected approximately 6 million taxpayers who have paid too much tax. The overpayment...; More

200 year old employees!October 26, 2011: The problem of employers providing incorrect or incomplete PAYE paperwork was recently highlighted. According to data received by HMRC from employers the following anomalies have been observed: - 128 staff entered as Mr, Ms or Mrs “Dummy”- 572 people whose surnames only included the letter X, rangin...; More

National insurance holidays for new businessesOctober 19, 2011: The National Insurance holiday scheme is designed to help new businesses, in qualifying regional areas, to create jobs by reducing the costs of employing staff. The scheme is only open to qualifying new businesses outside London and the South East. Take-up of the scheme has been less than expec...; More

Tutors and coaches targetted by HMRCOctober 19, 2011: A new campaign to target individuals that provide private tuition and coaching has been launched by HMRC. The Tax Catch Up Plan is for tutors and coaches and includes: those in traditional academic areas, fitness and dance instruction, music teachers and services provided by life coaches. The c...; More

Construction industry scheme penalties take forceOctober 19, 2011: The construction industry scheme (CIS) comprises a set of special rules for tax and national insurance for those working in the construction industry. The penalties for late submission of CIS contractor monthly returns changed from October 2011 with the introduction of new legislation. The first ret...; More

Unexpected tax bills for pensionersOctober 12, 2011: The Consumer Credit Counselling Service (CCCS) charity have issued a warning to pensioners who first claimed their pension during the 2010/11 tax year that they could face unexpected demands for unpaid tax from HMRC. The CCCS says that notices are currently being sent out by HMRC to an estimated 1.2...; More

UK/Switzerland target tax evasionOctober 12, 2011: The UK and Switzerland signed a landmark tax agreement on 6 October 2011. The new agreement which still has to be ratified will introduce enormous changes to the taxation of offshore bank accounts in Switzerland from 2013. The agreement is expected to recover billions of pounds in tax and penalties ...; More

Employers - new HMRC powersOctober 12, 2011: 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 obtain a security from employers where there is a serious revenue risk as a result of non-payment of empl...; More

Exceptions to October deadlineOctober 5, 2011: There are two minor exceptions to the paper filing deadline for the 2011 self-assessment tax returns of 31 October 2011. These are: When taxpayers received a tax return or a letter (called a 'Notice to File') telling them to file online after the 31 July. HMRC does not have software available ...; More

Alcohol fraudsters jailedOctober 5, 2011: The mastermind behind a criminal gang that illicitly sold alcohol at various locations around the UK has been jailed for almost five years. The gang bought alcohol from legitimate bonded warehouses. The HMRC investigation called 'Operation Installbox' discovered spirits, beer and wine being tak...; More

VAT – email enquiry serviceOctober 5, 2011: With immediate effect it is now possible to email HMRC with questions relating to VAT. A number of professional bodies have been requesting the introduction of this service over the last few years. HMRC strongly recommends that businesses with written questions use email rather than the postal...; More

Business Records Checks extendedSeptember 28, 2011: The business records checks programme is to be extended. Currently the programme of checks by HMRC impose penalties for significant record-keeping failures relating to Income Tax, Corporation Tax and VAT. The programme was launched earlier this year on a pilot basis which involved around 800 vi...; More

HMRC to target the richSeptember 28, 2011: A new team is to be set up next month to target the UK's 350,000 wealthiest tax payers. The Chief Secretary to the Treasury Danny Alexander made the announcement at the Liberal Democrat conference last week to keep up the pressure on both tax evasion and tax avoidance. The team, which the Chief Secr...; More

Fraudulent emails from 'HMRC'September 28, 2011: The problem of fraudulent emails being sent to taxpayers purportedly from HMRC is growing. The fraudulent emails inform recipients that they are due a tax rebate, and provide a click-through link to a replica of the HMRC website. These are not genuine HMRC messages and should be disregarded. It...; More

Duty on High and Lower Strength BeersSeptember 21, 2011: New duties are to be introduced on higher and lower strength beers with effect from 1 October 2011. The move is designed to help tackle problem drinking by encouraging industry to produce and drinkers to consume lower strength beer. A new additional duty known as High Strength Beer Duty (HSBD) was i...; More

Football directors disqualifiedSeptember 21, 2011: Four former directors of Luton Town Football Club (LTFC) have been banned from acting as directors or in any way managing or controlling limited companies for periods ranging from three to seven years. This follows an investigation into their conduct by The Insolvency Service (part of the Depa...; More

Contractor loses appealSeptember 14, 2011: The Court of Appeal recently considered an important case which has implications for many contractors who have used tax avoidance schemes to minimise their tax bills. The taxpayer in this case, an IT contractor, participated in a tax avoidance scheme operated through a partnership and a trust l...; More

Autumn statement 2011September 13, 2011: The Chancellor has announced that he will make his autumn statement to the House of Commons on 29 November 2011. The Chancellor also announced that the Office for Budget Responsibility will publish its economic and fiscal outlook. The autumn statement replaces the Labour Government’s pre-Budget repo...; More

Tackling mortgage fraudSeptember 13, 2011: A new scheme was launched earlier this month to help tackle mortgage fraud which was estimated at £1billion in 2010. The Mortgage Verification Scheme, first announced in the 2010 Budget, brings together HMRC, the Council of Mortgage Lenders and the Building Societies Association and has been refined...; More

Fraudulent plumbers arrestedAugust 30, 2011: HMRC have issued a news release to confirm that five plumbers have been arrested and that approximately six hundred more are under civil investigation. HMRC have said that these arrests are the start of co-ordinated action and more raids are expected to take place across the UK in regions including ...; More

Construction industry scheme (CIS) penaltiesAugust 30, 2011: The penalties for late submission of CIS contractor monthly returns changes from October 2011. The first return to attract a penalty under the new penalty regime will be the return due for the month ended 5 November 2011. HMRC recently published for comment an order that will bring the new late fili...; More

Paper self-assessment filing reminderAugust 30, 2011: The deadline for submitting paper tax returns for the tax year ended 5 April 2011 is 31 October 2011. If you file your return online the filing deadline for the 2011 return is 31 January 2012. There have been some changes to the penalty regime and any late submission will become immediately liable t...; More

Advisory fuel rates for company carsAugust 30, 2011: New advisory fuel rates for company cars take effect from 1 September 2011. These rates can be used to calculate the value of private fuel used by company car drivers. As recently announced by HMRC, fuel rates will now be reviewed four times a year with changes to take effect on 1 March, 1 June, 1 S...; More

Submitting intrastat declarationsAugust 23, 2011: HMRC have confirmed that changes to the way intrastat declarations are submitted are expected to take effect from April 2012. The changes are expected to: Introduce the mandatory electronic submission of intrastat declarations and Bring forward the monthly deadline from the last day, to the ...; More

VAT liability of green feesAugust 23, 2011: HMRC have issued a business brief concerning a recent decision by the First Tier Tribunal in connection with the VAT liability of green fees charged for visitors at non-profit making golf clubs. The golf club had historically accounted for VAT on its green fee income in accordance with the treatment...; More

Updated VAT flat rate scheme noticeAugust 23, 2011: HMRC have updated Notice 733 entitled 'VAT & the Flat Rate Scheme for small businesses'. The notice cancels and replaces the previous version published in January 2011. Normally the VAT businesses pay to HMRC is the difference between the VAT they charge their customers and the VAT paid on ...; More

Capital allowances loophole endedAugust 17, 2011: New capital allowances legislation is to be introduced in the 2012 Finance Bill to take effect from 12 August 2011. The legislation which had been proposed to take effect from April 2012 has now been brought forward and will close the capital allowances loophole that allowed businesses to ...; More

Changes to HMRC bank detailsAugust 16, 2011: As many of our readers will be aware, HMRC moved its banking business from The Bank of England a number of years ago. This change was as a result of a decision made by the Bank of England to no longer offer retail banking and clearing facilities for government and other large corporate cus...; More

Submitting online VAT returnsAugust 16, 2011: HMRC have issued a reminder that most businesses should be submitting VAT returns online. Since 1 April 2010, all VAT registered business with a turnover exceeding £100,000 and all newly VAT registered businesses have been required to file VAT returns and make payments online. VAT registered busine...; More

Delay in the issue of some self-assessment statementsAugust 16, 2011: HMRC have issued a further update in respect of the fact that a higher than anticipated number of self-assessment statements will be issued late this year. As previously announced, HMRC have been unable to issue all the paper self-assessment tax statements to taxpayers that should have received them...; More

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