May 6, 2010
The UK’s HM Revenue & Customs (HMRC) department has made public its projections for personal income tax revenues for the 2010-2011 financial year. The department expects an additional GBP 10 billion (approx. USD 15.1 billion) to be realized, mainly from the two top marginal tax rates. The HMRC recently released its latest projections for the [...]
The UK’s HM Revenue & Customs (HMRC) department has made public its projections for personal income tax revenues for the 2010-2011 financial year. The department expects an additional GBP 10 billion (approx. USD 15.1 billion) to be realized, mainly from the two top marginal tax rates.
The HMRC recently released its latest projections for the personal income tax collections for the 2010-2011 financial year. The department expects the national revenue figure to rise by approximately GBP 10 billion to a total of GBP ... Read More
Feb 3, 2010
The number of UK nationals who filed their Self Assessment (SA) tax returns online in 2009 reached a record high, according to the HM Revenue & Customs (HMRC). The HMRC reported on February 1st that 6 429 899 individuals had filed their SA returns online before the January 31st deadline. The figure represents approximately three [...]
The number of UK nationals who filed their Self Assessment (SA) tax returns online in 2009 reached a record high, according to the HM Revenue & Customs (HMRC).
The HMRC reported on February 1st that 6 429 899 individuals had filed their SA returns online before the January 31st deadline. The figure represents approximately three quarters of submitted returns and marks a 12 percent improvement over the previous year, where only 5 759 006 individuals made timely online submissions. According to the HMRC ... Read More
Jan 26, 2010
The UK’s HM Revenue & Customs (HMRC) has published a pamphlet outlining new penalties for abuse of the Value Added Tax (VAT) and Excise system. On January 25th the HMRC made available a pamphlet outlining their new VAT and Excise Wrongdoing penalty system, which will be enacted on April 1st, 2010. The offenses listed within [...]
The UK’s HM Revenue & Customs (HMRC) has published a pamphlet outlining new penalties for abuse of the Value Added Tax (VAT) and Excise system.
On January 25th the HMRC made available a pamphlet outlining their new VAT and Excise Wrongdoing penalty system, which will be enacted on April 1st, 2010. The offenses listed within the pamphlet are: the issuance of an invoice with VAT which the issuer was not entitled to charge, handling of goods on which Excise Duty has not been ... Read More
Dec 1, 2009
The UK’s HM Revenue & Customs (HMRC) has announced that the deadline for their offshore investment tax amnesty program – New Disclosure Opportunity (NDO) – has now been moved forward to January 4th. Originally the NDO program, which ran from September 1st, 2009, required offshore account holders to disclose their obligations before November 30th. Speculation [...]
The UK's HM Revenue & Customs (HMRC) has announced that the deadline for their offshore investment tax amnesty program - New Disclosure Opportunity (NDO) - has now been moved forward to January 4th.
Originally the NDO program, which ran from September 1st, 2009, required offshore account holders to disclose their obligations before November 30th. Speculation concerning possible extensions to the tax amnesty circulated throughout the media in the last week before the deadline. On November 27th Dave Hartnett, HMRC’s Permanent Secretary for ... Read More
