From 1 April 2013 bidders for government contracts will need to certify that they are tax compliant and if they fail this test they will be excluded from winning government contracts. The new restrictions will apply to Central government tenders advertised on or after 1 April 2013. The bidding process will include a new pass/fail […]
Google and Amazon face fresh allegations
Multi-national companies continue to draw the attention of the UK press over allegations that they contrive to export profits made in the UK to lower tax jurisdictions. In this way economic activity in the UK escapes UK tax. This in contrast to numerous small and medium sized businesses who are reported to be paying their […]
Word of Mouth Marketing
‘Word of Mouth’ is still one of the most effective marketing techniques, online or offline. In today’s tough market, businesses are fighting for their share of sales. If you can create a reputation and get people talking, you can win new business for your firm. The best thing about word of mouth marketing is that […]
HMRC name and shame list grows
In accordance with legislation HMRC may publish information about a deliberate tax defaulter where: HMRC have carried out an investigation and the person has been charged one or more penalties for deliberate defaults, and those penalties involve tax of more than £25,000. However, their information will not be published if the person earns the maximum […]
Boris calls for London tax raising powers
In a radical rethink of the way in which London is funded the 17 members of the London Commission are due to report this week and are likely to recommend that certain tax raising powers are devolved. It is estimated that Revenue streams of up to £12bn could be placed under local control with a […]
The High Income Child Benefit Charge & How to Avoid It
HOW IT WORKS In 2012/13 and later tax years, a proportion of the child benefit received by an individual may be taxable if the individual has “adjusted net income” exceeding £50,000 and either: a. he was entitled to child benefit for any week in the tax year, and no other person who was his partner […]
HMRC scours data for off-shore tax dodgers and advisors
HMRC is currently investigating a large number of tax advisors and their clients who are suspected of concealing untaxed income and assets in off-shore tax havens. Due to their recent success in reaching tax accords with off-shore jurisdictions HMRC are now working their way through 400 gigabytes of data. The data has revealed the use […]
Getting the best deal from banks
Banks are tarred with being the cause of the recession that has plagued the global and UK economy for the past four years. Whatever truth there is in this point of view one thing is certain: almost without exception they are now risk-averse. Unless you can prove that your need for financial support is well […]
Tax Diary May/June 2013
1 May 2013 – Due date for Corporation Tax due for the year ended 31 July 2012. 19 May 2013 – PAYE and NIC deductions due for month ended 5 May 2013. (If you pay your tax electronically the due date is 22 May 2013.) 19 May 2013 – Filing deadline for the CIS300 monthly […]