Category Archives: UK Tax

A senior tax manager at Grant Thornton UK, Ellie Gamble, said that “We cautiously welcome government plans to merge the operation of income tax and NICs. This could really make life easier for both employer and employee. We would, however, urge the government not to rush anything through. Moreover, the change should not lead to […]

Following the General Election the Coalition Government set up the OTS to, among other things, overhaul the highly unpopular IR35 legislation, which requires contractors to prove that they are no de facto employees of their clients. However, it is understood the OTS will highlight in the interim report the difficulty of finding a workable alternative […]

Graeme Jump, Senior Counsel at Mace & Jones Partnership said “Frighteningly, this decision was only in respect of a trial of a number of preliminary issues, but it still took nine days of High Court time. It seems quite likely that there may be further litigation. Sadly this is yet another case where business people […]

The four new HMRC / Business Link Resources; A PDF entitled ‘Keeping records for business – what you need to know’ A PDF entitled ‘A general guide to keeping records for your tax return’ Guidance on setting up a basic record keeping system (in association with Business Link) Guidance on what records you should be […]

The research also found that nearly 50% of firms has spent less than five hours managing the VAT increase to 20% and 29% of small business owners chose to absorb the additional 2.5% cost increase rather than pass it on to their customers. The Managing Director of Intuit UK, Pernille Bruun-Jensen, said that “It’s reassuring […]

The effects of the change are expected to see the middle classes hit the hardest with the Institute for Fiscal Studies estimating that on average households across the United Kingdom will have to pay an additional £200 in 2011 / 2012.  The changes are bad news for many households who have already seen prices increase […]

John Whiting, the Tax Director for the Office of Tax Simplification, said that \”I am delighted that these events were so well received and stimulated such valuable debate amongst those attending. That is exactly what we hoped for as we seek input to help us simplify Britain\’s tax code as openly as possible. Some points […]

According to Rachel Murphy at Hurst “Everyone knows taxes are largely a given but there are many legitimate ways they can be managed to lessen the burden. The risk is that the Treasury is increasingly merging the two premises of avoidance of tax – which is legitimate – and evasion, which is illegal, couching it […]

The report found that 47% of SME managers saw the Spending Review and budget cuts as a threat to their organisation, compared to 60% of managers working at companies with more than 250 employees. SME bosses were also more confident about their job security, with just 8% admitting to feeling insecure about their roles, in […]

Chas Roy Chowdhury, the ACCA’s Head of Taxation said that “HMRC’s recent announcement is worrying for many ordinary tax payers. While it is important we pay the right amount of tax at the right time, it is also important that our tax authority bills us correctly and keeps correct records. It is also important that […]