The Deputy Prime Minister Nick Clegg has recently launched an attack on higher earners stating his aim to crackdown on tax avoidance. One national newspaper reported that ‘tens of thousands will face intrusive new tax investigations’ with some reports suggesting that the number of tax investigations aimed at the better off will rise by 3000%[...] Read more »
Archive for the ‘Tax’ Category
Reginal National Insurance Holiday
In his first budget George Osborne announced the introduction of a scheme to exempt certain qualifying businesses from Employers National Insurance. The full details of the scheme, known as the Regional Employer National Insurance Holiday have now been announced, although the relevant legislation has yet to be passed by parliament. The Holiday will be available[...] Read more »
Time to Pay – Its not all Bad.
There has been a lot written in the press recently (both general and industry specific) about the declining number of HM Revenue and Customs time to pay agreements being given the go ahead, specifically where the proposals seek payment terms over 6 months. The general feedback is that HM Revenue and Customs will flatly refuse[...] Read more »
Company Formation – You get what you pay for!
I was recently asked to provide a quote for the formation of a new limited company for a client. I enquired about the proposed company directors, shareholders, registered office, nature of the trade etc . I then provided some advice on a tax efficient share structure and quoted my fee for forming the company, dealing[...] Read more »
Tax Simplification
So George Osborne has decided that the current tax regime is very taxing and has introduced an “Office for tax simplification”. The new departments aim; to cut through the red tape and reduce the burden on business. We can only hope that this new department does what it is designed to do and does not[...] Read more »
FURNISHED HOLIDAY LETTINGS
I was working on a fairly detailed tax case this week that included amongst other income some income from a ‘Furnished Holiday Let’ (FHL). After completing the return and because of the potential confusion created by the Labour governments pre-budget announcement that they were to abolish FHL’s and then there apparent back tracking before the[...] Read more »
The Emergency Budget………
(this article was first publised on 22 June 2010) George Osborne, the Chancellor has delivered his first budget speech….The Emergency Budget. He started his speech be letting us all know that the government had “inherited the largest budget deficit of any economy other than Ireland” and said “I’m not going to hide hard choices from[...] Read more »
Tips for reducing your tax bill
(This post was first publised on 17 June 2010) I am often asked by clients and potential clients, what is the best way to reduce my tax bill? Unfortunately there is no stock answer for this question. Each person and situation will be different and individual circumstances will need to be reviewed in detail[...] Read more »
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