Autumn Statement 2015 – future measures

Future Measures…… Moving forward to the Budget 2016 and the various consultations in place here are some of the items we expect to see: Salary Sacrifice – Further consultation is being sought to assess what action can be taken to combat the rise in use of these arrangements. Pension Tax Relief – We expect to see further restrictions on pension … Read More

Closure of property sales campaign

Home sellers have until Friday 6th September 2013 to make any necessary disclosures under HMRC’s Property Sales Campaign. The campaign was launched on 5 March 2013 and designed to encourage people to come forward and report any undisclosed tax liabilities to the authorities. HMRC has targeted individuals who sold a residential property in the UK abroad that did not qualify … Read More

HMRC to gain access to card payment data

HMRC has recently gained new powers allowing it to find out the number and value of transaction undertaken by a specific trader by accessing information from the UK’s merchant acquirers, the companies which process card payment transactions. This is the latest in a series of crackdowns on tax evasion and the data gathered is designed to ensure that traders have … Read More

Tax evasion vs tax avoidance – what’s the difference?

Never before in the history of taxkind has so much been written about tax avoidance and it seems that there is still a way to go before the gap between public perception and reality is closed. Put simply, tax avoidance is legal. There are a multitude of legitimate tax reliefs and ‘schemes’ which allow individuals and companies to pay less … Read More

Is it really so wrong to pay tradesmen in cash?

Today’s headlines about cash in hand payments make interesting reading, especially for those of us engaged in the business of advising on tax matters. Paying contractors and tradesmen such as plumbers, cleaners and handymen cash in hand is still extremely common it seems but can it ever be justified? As the buyer of services, it is not strictly your legal … Read More