Creative excuses for late tax returns!

HMRC has just released this year's top ten chart of the worst excuses for missing the January 31st online tax return deadline. As you'd imagine, all of these failed to secure a successful appeal. If you're going to be late this year you'd better dream up something a lot better than this sad little lot,

By |2015-03-21T14:11:12+00:00January 22nd, 2015|Uncategorized|

EC proposes a ‘simpler, more robust’ VAT regime

When the Single Market was born in '92, intra-EU trade and a real borderless union were supposed to sit at the heart of the VAT system. But politics and technology made it impossible to build a workable EU VAT system reflecting national tax practices for taxation at origin. The temporary system put in place at

By |2015-03-21T14:27:06+00:00November 20th, 2014|Uncategorized|

Dividends (money) v Benefits in Kind

What is the most efficient way for a director/shareholder to extract additional remuneration from a small or new company? Your company is doing well, and so you plan to increase what you take from it. The question is, what’s the most tax-efficient way to do it? Usually dividends are the best and most common option,

By |2015-03-21T14:33:09+00:00October 16th, 2014|Uncategorized|

HMRC risk assessment comes out of the shadows

Until recently the taxpaying public didn't know much about the shadowy processes and procedures HMRC used to assess risk. But not it's all coming out into the open, thanks to HMRC's 'benchmarking letters'. According to Guy Smith, a Tax Investigations Manager at Abbey Tax Protection, the benchmarking represents HMRC's latest tactic to improve voluntary compliance

By |2015-03-21T14:33:25+00:00September 18th, 2014|Uncategorized|