The total deductions were about £1000 but HMRC have said the penalties will be £1200 (£100 for 12 months).
HMRC has launched five VAT taskforces in the Midlands as part of an initiative to bring in over £100m in the current tax year.
A new estimate of the UK’s tax gap is “flawed and muddled”, according to HMRC.
As a sole trader, if a start-up first tax return turnover and taxable profits are below the personal allowance.
HMRC has commissioned a report into Business Record Checks (BRCs) and attitudes towards record keeping. That seems to make sense.
In a recent case the tax payer, a Mr Sparrey proved he did not need to pay HMRC for an agreed tax underpayment. This was because as a PAYE liability, prima facie, the tax should have been accounte
Tony Margaritelli takes the opportunity to talk about issues that have hit the news or not in the last few weeks.
Tax reliefs are a necessary part of any tax system and play a significant role in defining the scope of tax, HM Treasury has said in response to the Public Accounts Committee’s finding in June that
- ICAS: HMRC record checks are “flawed” 204,430 18
- Reasonable Excuse scorecard 2011: Taxpayers 20 HMRC 12 45,202 17
- HMRC ‘reasonable excuse’ definition under fire 27,260 22
- HMRC helplines begin move to 03 numbers 26,937 19
- Struck-off companies dodge £16bn a year 25,182 59