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Osborne serious about NFL team for London

Chancellor George Osborne is considering offering tax breaks for a potential new London-based NFL team, vowing that the Government will do whatever it takes to attract (more…)

Tax obligations for sole traders

If you set yourself up as a sole trader, you need to be careful to meet your tax obligations. Here are the main steps you need to take to ensure that you declare your (more…)

CIoT president denounces HMRC powers

Anna Fairpo, president of the Chartered Institute of Taxation (CIoT) has taken a shot at HM Revenue and Customs over its newfound powers granted in (more…)

HMRC admits possible tax miscalculation

Thousands of UK employees are unsure as to where they stand after a breached HMRC email revealed their 2014 final bills may not have been calculated correctly.

The Telegraph has reported that the (more…)

A brief guide to HMRC penalties

To ensure that people comply with the rules and pay the taxes that they owe on time, HMRC issues penalties or fines. Below is a brief overview of the (more…)

To incorporate or not incorporate

If you are currently trading as a sole trader or a conventional partnership, you should consider whether it is time to become a company. This process is known as incorporation. At a certain point, incorporating your enterprise can (more…)

Understanding Income Tax

Income tax is paid to Her Majesty’s Revenue and Customs (HMRC) by everyone who draws a wage from a UK-based business. It is also paid by people who are not working but have an income from other sources, such as a (more…)

UK leads the way in new reporting model

The Treasury has said that the United Kingdom holds the top spot in a list of 44 countries in committing to a new model of (more…)

Tax codes: are you using the right one?

We all know that paying the right amount of tax is important. Nobody wants to lose money by paying too much tax, and most people would not want to take the risk of paying too little. They know that the taxman will eventually (more…)

Tesco situation being watched closely

Britain’s accounting and audit watchdog has said that it is keeping an eye on events after the incident that saw Tesco overstate its profits by (more…)

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