National Insurance Contributions
National Insurance Contributions: Benefiting with Form P11D Form P11D is designed for anyone earning over £8,500 p.a. to report benefits and expenses. The form must be submitted to HMRC by 6 July [...]
Blog
HMRC: Deploying an Army to Recoup Lost Taxes
Like it or not, HMRC has as the Chancellor said it would at the last Budget Statement, been given greater powers and more money in its efforts to close in on the approximately £35 billion of tax that [...]
Take Money Owed Directly From Your Bank Account
HMRC Consulting for New Powers to Take Money Owed Directly From Your Bank Account In the Spring budget 2014, George Osborne outlined plans for HMRC’s proposed new powers: to recover tax debts [...]
Capital Gains Tax United Kingdom
Will Changes to Capital Gains Tax Hit Only Non-UK Residents? British expats and foreigners who own residential property in the UK will have to pay capital gains tax from 2015. The idea, first muted [...]
HM Revenue and Customs (HMRC) Benchmarking
"HMRC Benchmarking": What is it, and what does it mean to businesses? HMRC has what is called a Transparent Benchmarking Team, assigned to test the profit ratio "benchmarks" among a selection of [...]
Second income? Declare it!
Declar Your Second Incomes HMRC is targeting undeclared second incomes! A disclosure facility for the Second Incomes Campaign provides individuals an opportunity to declare additional income that [...]
Salary Sacrifice: The Benefits!
What's salary sacrifice? Salary sacrifice is an agreement between the employer and employee on making an arrangement to reduce an employee’s cash pay in return for non-cash benefits like a [...]
Employment Allowance: How to get up to £2,000 off your Class 1 NICs
From 6 April 2014 employers can claim the Employment Allowance and reduce their employer Class 1 NICs. From 6 April 2014 employers can claim the Employment Allowance and reduce their employer Class [...]
HMRC unveils new timetable for Real Time Information penalties
HMRC has announced that it will stagger the introduction of RTI penalties for two reasons: fixing glitches in HMRC’s own systems and to give employers who are experiencing difficulty in reverting to [...]
Is this end of Cost of Travel from home to work for Contractors and Freelancers?
Is this end of Cost of Travel from home to work for Contractors and Freelancers? As a self employed contractor or small business owner and working from home one of the major expense which you claim [...]