Once again, almost 1 million UK taxpayers have missed the 31 January deadline for filing their self-assessment tax return.  If you are one of these 8% of tax payers then HMRC will be sending you a £100 fine very shortly.
Continued delays will mean higher fines.  From 1 May the fine increases by ...

Do you let out a second home or other property in south Wales?  If you do and you haven’t declared the income you receive to HMRC then you could get a letter or even a knock on your door fom the taxman.
 
HMRC has recently announced the creation of several new taskforces to focus on tax evasion ...

BBC 1 is showing PD James' costume drama 'Death Comes to Pemberley' over the Christmas period.  A sequel to Jane Austen's celebrated novel , 'Pride and Prejudice', it picks up the story with Elizabeth Bennett married to Fitzwilliam Darcy and happily installed in his grand home, Pemberley.  But ...

Preparing for Christmas isn’t just about spending money on presents, decorations, food
and drink it should also be about saving money on your tax bill.
The deadline for submitting self-assessment tax returns for 2012/13 is 31 January 2014.  It
may still seem a while off but if you want to minimise ...

HM Revenue & Customs (HMRC) has announced a new tax catch-up and advice "campaign" that focuses on persons letting residential property. HMRC claims to offer more favourable terms to those who come forwards during the campaign to settle outstanding taxes from earlier years.
There are several ...

The government has launched new regulations to tax the receipt of child benefit by households with at least one high earner, defined as being income over £50,000 a year.  A Higher Income Child Benefit Charge (HICBC) will be levied at 1% of the child benefit received for every £100 of income in ...

Tax payers who haven’t yet submitted their self-assessment tax returns for 2010/11 are now facing penalties of at least £1,300 for late filing and this will rise to at least £1,600 if the return isn’t filed by 31 January 2013.
HMRC is writing to all tax payers who haven’t yet filed their returns ...

The government has launched a new business information website, gov.uk, to replace Businesslink.co.uk and directgov.uk.  It is designed to act as a one-stop shop for financial and business advice ranging from how to set-up in business to filling in your tax return.
Launched in October 2012 the ...

Any higher rate taxpayer who has yet to submit a self-assessment tax return for 2009/10 has just a few weeks left to take advantage of a special amnesty from HMRC.
Under this special arrangement anyone who still needs to submit a self-assessment return for 2009/10 must do so by 2 October in order ...

Despite a reduction in the number of late tax returns compared to the prior year, HMRC has sent out letters to around half-a-million tax payers chasing their returns for the 2010/11 tax year.  And there is a big sting in the tail – a fine of £1,200!
 
 HMRC fines for late payments have increased ...

Almost a million taxpayers failed to submit their self-assessment tax returns for the tax year ended 5 April 2011 by the deadline of 31 January 2012 – that’s around 1 in 12 of all taxpayers. If you are one of them then you are advised to act now to avoid the risk of significant financial penalties ...

Those taxpayers who still chose to submit paper-based self-assessment tax returns for the tax year ended 5 April 2011 will have needed to have done so by 31 October.  For those who submit their tax returns on-line the deadline in 31 January.
HMRC has a new penalty regime for late returns which ...

Some employers have been caught out by HMRC introducing penalties from 1 April 2010 for late payment of PAYE and NIC.  Although HMRC insists that the introduction of the automatic penalty regime was well publicised it did not send out any notices warning employers that they had paid late during ...

It’s not just the mega-rich and tax exiles which HMRC is targeting for underpayment of tax.  Many trades and professions are in their sights.  Plumbers, doctors and dentists are amongst those targeted so far.
Now HMRC has turned its sights on private tutors and coaches.  The Tax Catch-Up Plan is ...

A recent investigation by Parliament has uncovered an ongoing catalogue of poor service by the taxman.  Following on from a long list of errors by HMRC which have meant many taxpayers receiving excessive demands for tax, the report has found:
- people waiting up to three months for a reply to a ...

One-in-ten of Britain’s 4.7 million small business owners have admitted missing key tax deadlines and payments, while almost one-in-five have lost out on tax breaks and grants.
These disturbing figures are from a recent survey by Clydesdale and Yorkshire Banks which also included data showing ...

Anyone who doesn’t submit their tax return on time for 2010/11 will be fined up to £1,600 and possibly even more!  And you won’t be let off the fine if you have no tax to pay.
Fed up of hundreds of thousands of people filing their tax returns late every year, the taxman has decided on dramatic ...

Are you a plumber, heating engineer or work in a similar trade?  If so then you should be aware that the taxman is targeting your profession for evidence of underpaid taxes.
But under the Plumber’s Tax Safe Plan (PTSF) then if you declare any unpaid taxes from the past five years before 31 May ...

Were you one of many people or businesses scrambling to get your 2009/10 tax return completed in time for the filing deadline on 31 January 2011?  If you were, then I hope you came to Pemberley Accounting, which worked tirelessly on behalf of  its clients to help any who came along with ...

HMRC is planning a major review of the accounts of small and medium-sized companies in order to look for unpaid tax.  Under new legislation enacted through the Finance Act, the taxman will be able to scrutinise up to 50,000 sets of accounts in 2011.
Under the Act, the taxman will have the power ...

 In all the hurly-burly of getting ready for Christmas it's easy to forget that the deadline for filing income tax returns for the year ended 5 April 2010 is only a few weeks away.  If you don't submit your tax return by 31 January 2011 then HMRC will issue automatic late-filing fines while ...

 2010 was a bad year for HMRC as it realised it had made thousands, probably millions, of errors in assessing the tax due by hard-working taxpayers who thought they had paid the correct tax.  After initially threatening to collect every penny, the taxman has acknowledged that many small amounts ...

Company directors could face hefty fines if their accounts are rejected by Companies House due to errors.  In the first six months of 2010, more than 90,000 sets of accounts were rejected - with almost one third of these due to filing incorrect statutory financial statements.
Some of these ...

A report by the National Audit Office states that HMRC still has a backlog of 18.2million income tax cases where there is potentially underpaid or overpaid tax.  This means taxpayers may have paid £3bn more than they should have.
HMRC blamed the backlog on the effects of the recession which means ...