Late tax return? You have the right to appeal a penalty if you have a reasonable excuse, says industry body, as the deadline for self-assessment tax return draws nearer January 31, 2016 With just one hour to go until the deadline for self-assessment tax returns, an industry body has urged those who have a reasonable excuse for not hitting submit by midnight to appeal any late filing penalty they receive. The Low Incomes Tax Reform Group (LITRG) of the Chartered Institute of Taxation (CIOT) has today warned [...]
Google tax deal not a “glorious moment” business secretary Sajid Javid admits January 31, 2016 Google's deal to pay £130m in corporation tax was not a "glorious moment", business secretary Sajid Javid has admitted, but has insisted it will change behaviour. Google also defended the payment, saying it doesn't have a so-called sweetheart deal with the government or HMRC and pays a rate of 20 per cent in the UK and globally. The pay deal, [...]
Former Conservative chancellor Lord Lawson calls for corporate tax reform in the wake of Google row January 30, 2016 A former Conservative chancellor has urged the government to ditch corporation tax which he says has "had its day", weighing in on an increasingly heated row over tech giant Google's arrangement in the UK. Lord Lawson, who was part of the Thatcher government from 1983 to 1989, said that the government should instead tax a company's sales. "It is [...]
A Welsh coffee shop-owner, Steve Lewis, thinks he should replace Lin Homer as chief executive of HMRC January 29, 2016 More than 140,000 people have signed a petition in supporting a Welsh coffee shop-owner's bid to be hired as the next chief executive of HMRC. Steve Lewis, a former army officer from Crickhowell in the Brecon Beacons who now runs a coffee shop, launched a petition on Change.org, saying he would be "a people's champion" at HMRC, and take a [...]
Literally everything you need to know before you start filling in your online self-assessment tax return January 28, 2016 Congratulations, you survived Christmas and New Year: time to put your feet up while waiting for the Rio Olympics? Nope. The deadline for submitting your self-assessment tax return (SATR) online is 31 January. And there are penalties if you don’t make it, or if HM Revenue and Customs (HMRC) takes the view you haven’t taken [...]
Don’t be late: Self-assessment tax return deadline date is Sunday 31 January, so here’s a list of things you might want to know about avoiding that £100 late filing penalty January 28, 2016 We hope you've marked this Sunday 31 January in your diary – it's filing deadline day for self-assessment tax returns. But, if you need a break from your yearly paperwork, why not distract yourself with these seven facts about self-assessment? 1. It seems endless battles with train delays have left capital dwellers with a warped sense [...]
Google tax: European Commission sets out new proposals to crack down on tax avoidance January 28, 2016 The European Commission will today put forward new proposals to crack down on tax evasion and avoidance, as UK politicians continue to spar over Google’s tax payments. Pierre Moscovici, the EU commissioner for economic and financial affairs, taxation and customs, is expected to lay out a series of legally-binding measures intended to close loopholes in [...]
UK and Ireland among 31 countries signed up to OECD tax co-operation agreement January 27, 2016 The OECD has announced that 31 countries have signed up to a new tax co-operation agreement to enable automatic sharing of country-by-country information. Representatives from the 31 countries, which include the UK, Ireland and Australia, signed the Multilateral Competent Authority Agreement (MCAA) at a ceremony today. “Country-by-country Reporting will have an immediate impact in boosting international [...]
Rupert Murdoch slams “posh boys” in Downing Street over Google tax deal January 27, 2016 Media mogul Rupert Murdoch took to Twitter today to blast politicians in the UK and the US for giving Google an easy way out of questions over its tax arrangements. Google recently reached a £130m deal with HMRC over corporation tax claims covering a 10-year period. However, Murdoch referred to the payment as a "token amount", handed over [...]
Managing taxes in the sharing economy: People who make money through Uber, AirBnB and Etsy could be under-stating their profits – and HMRC is coming to get you January 27, 2016 The self-employed tax return deadline is only days away, leaving the many individuals that have made money through sharing economy services like Uber, AirBnB and Etsy struggling to work out what, if any, tax they have to pay this 31st of January. But they have to get clued up fast because Revenue & Customs recently announced [...]