Tag: Tax Return

HMRC unleash ‘Connect’ computer to target tax evaders

hmrc-tax-1024x683

HMRC’s powerful new “Connect” system is about to be unleashed on the general public zeroing in on anyone who may have failed to declare income they should be paying tax on. With the deadline of the 31st January rapidly approaching, HMRC probably already know if you’ve been selling on eBay, renting your room out with […]

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HMRC reveals the 10 lamest excuses for a late tax return

Death and Taxes

The self-assessment deadline for tax returns for 2014-15 is now looming (end of the month!) and HMRC has issued a friendly reminder in the form of the 10 worst excuses they received last year. And yes, one of them is “The dog ate my tax return.” The excuses below were all used in unsuccessful appeals […]

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HMRC chase smaller online seller’s unpaid tax

Death and Taxes

The Telegraph reports that not only are HMRC chasing more online sellers to ensure that they’re paying the correct tax, but that they are also actively looking for a high profile offender who’s failed to declare their income to make an example of. It’s not just eBay, although that’s probably the most popular site for […]

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Budget highlights that will affect your business

Death and Taxes

George Osborne has delivered the final budget of this parliament, with the election just a few weeks away. It will be some time before the pundits come out with their full budget analysis but doubtless if you pick up any newspaper tomorrow you’ll find out how the announcements will affect your family’s income. In the […]

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Class 2 National Insurance changes for 2015

National Insurance

HM Revenue and Customs are planning to simplify the way you pay your National Insurance contributions in 2015. Currently, if you’re self employed, you probably pay Class 2 contributions monthly and Class 4 contributions on your annual tax return. It’s also quite possible that you’re also paying Class 1 National Insurance Contributions if you have […]

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£85,000,000 fines for filling out tax return late

HMRC Feat

The government coffers are due to swell to the tune of £85m in £100 fines from the 850,000 people who failed to complete their tax return by January 31st this year. According to Sky, HMRC will complete mailing fines to those who should have submitted a tax return by Wednesday this week. If that’s you […]

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Late 2010-2011 Income Tax returns will result in fines

For anyone who has to complete a personal income tax return for the year 2010-2011 you’ve got exactly a week left to submit it or you’ll be facing a fine of at least £100. Up until this year HMRC have always imposed a fixed penalty of £100 for filing your tax return late, but this […]

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