Tax investigations are more common for certain kinds of taxes than others. If your business is VAT-registered, or you hire and pay employees through PAYE, you should be prepared for routine tax checks. HMRC will want to look closely at any areas where mistakes are common. For income tax an...
The FTT has held that, in this case, HMRC had not made a valid discovery on which the assessment could be based for the purposes of TMA 1970 section 29. The FTT pointed out that it was not a requirement to submit evidence of deductions with a self-assessment return. The whole basis of...
I found it ok, i use quick books so all the information I needed was there and then I just popped it into the self assess site. The amount of reminders they are sending me is actually ridiculous though, I’ll hang onto it as long as I have to...
The principle feature of any tax system which will influence the effectiveness of a GAAR is not in fact one intrinsic to the system in normal operation, but one which is usually external to the operation of the tax system, namely the judiciary. Academic research undertaken to assess the ...
The penalties HMRC will levy for potential loss of revenue on top of any tax and interest they may assess and how your perceived behaviour defines their scales are as follows: Penalties Prompted Unprompted Reasonable Care 0% 0% Careless 0% - 30% 15% - 30% Deliberate 20% - 70% 35% - ...
Everyone knows that happy employees are the heart of any thriving business so automating your payroll will give you the confidence that you can pay your people accurately, on time, every time. Not everyone has time(especially at year-end!)to do complex manual calculations or understand tax rule...
Yes. The Advisory Panel will be in a unique position in the tax system, as befits the unique status of the GAAR legislation. 10. The Government welcomes comments on whether particular issues arise in relation to Self-Assessment (where the relevant taxes operate within a Self-Assessm...