HMRC issued a press release 12 February 2013 advising “tax cheats” in London and the South East that they will be targeted by a new taskforce. The taskforce will put the spotlight on people abusing the Self Assessment system fraudulently to claim back money they are not entitled to. It is expected to recover £6 […]
Further reminder of payroll changes April 2013
Last month’s newsletter included details of the major change in reporting of PAYE information to HMRC from April 2013. The new process is to be known as Real Time Information (RTI) reporting. From 6 April 2013 you will be required to submit payroll data on or before the date that salaries and wages are paid […]
Finance Bill 2013 draft clauses published
The main tax announcements for the 2013-14 tax year, as announced 5 December 2012, have now been published as draft clauses for the forthcoming Finance Bill 2013. GAAR The new acronym stands for General Anti-Abuse Rule. It will give HMRC powers to stop companies and tax payers taking advantage of complex tax arrangements in order […]
Tax planning for high income earners 2012-13
High income earners have until 5 April 2013 to review their tax position for 2012-13. In most cases action will need to be taken prior to this date. Deferring income If you normally receive bonuses this month or a dividend from your company you should estimate your earnings for the next tax year, 2013-14, and […]