More than 700,000 savers could be paying too much tax after interest rates plunged to record lows. It is yet another blow for beleaguered savers already struggling to earn an income from their nest eggs. And long delays at HM Revenue & Customs (HMRC) means anyone attempting to correct their tax code and claw back … Read more
Bitcoin joins Black Market Pesos and ‘Hundi’ on taxman’s hitlist: HMRC names crypto-currencies among alternative assets that MUST be declared in wealth statements All assets, including Bitcoin, have always had to be declared to HMRC if required But, HMRC has now updated Statement of Assets form with things like crypto HMRC suspects more ‘hidden wealth … Read more
Bitcoin joins Black Market Pesos and ‘Hundi’ on taxman’s hitlist: HMRC names crypto-currencies among alternative assets that MUST be declared in wealth statements All assets, including Bitcoin, have always had to be declared to HMRC if required But, HMRC has now updated Statement of Assets form with things like crypto HMRC suspects more ‘hidden wealth … Read more
The taxman has blown the lid off the offshore interests of millions of Britons – exposing secret Swiss bank accounts and investments buried in the Caribbean. Armed with new international tax data and tougher penalty powers, HM Revenue & Customs (HMRC) is understood to have sent out tens of thousands of warning letters to UK … Read more
House sales in the UK soared by a quarter in January – despite lockdown – as buyers make a ‘sprint finish’ to beat next month’s stamp duty holiday deadline. More than 120,000 residential property sales were recorded last month, according to new figures released by HM Revenue and Customs (HMRC). The figure is a 24.1 … Read more
Bonmarché, the value-oriented clothing retailer, went into administration for the second time in a year on 2 December 2020. There are 226 stores and more than 1200 employees. It is owned as a separate business by Philip Day, whose EWM is also in crisis (see below). Philip Day put this company into administration a few … Read more
Bonmarché, the value-oriented clothing retailer, went into administration for the second time in a year on 2 December 2020. There are 226 stores and more than 1200 employees. It is owned as a separate business by Philip Day, whose EWM is also in crisis (see below). Philip Day put this company into administration a few … Read more
I was interested to read this recent article about how HMRC are requiring people to ‘cough up’ additional amounts of tax based on what is in the majority of cases almost certainly inaccurately inflated estimations of future earnings. In short, it is what has happened in my case, involving a frighteningly large amount based on … Read more
Tax deadline put back a month: HMRC relaxes rules on tax returns amid fears coronavirus pandemic could lead to late filings and millions of fines HMRC still expects all tax payers to file their returns by Sunday but those who do not file by February 28 will no longer receive a £100 penalty The relaxation … Read more
Tax deadline put back a month: HMRC relaxes rules on tax returns amid fears coronavirus pandemic could lead to late filings and millions of fines HMRC still expects all tax payers to file their returns by Sunday but those who do not file by February 28 will no longer receive a £100 penalty The relaxation … Read more