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 quarters [...]
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 [...]
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
Jan 8, 2010
Nearly 10 000 UK nationals have opted to reveal their hidden offshore assets in the HM Revenue & Customs’ [HMRC] tax amnesty program.
The New Disclosure Opportunity (NDO), whose deadline closed on January 4th, is expected to result in £500 million retrieved in unpaid taxes and subsequent penalties over the next three years. The number of [...]
Nearly 10 000 UK nationals have opted to reveal their hidden offshore assets in the HM Revenue & Customs’ [HMRC] tax amnesty program.
The New Disclosure Opportunity (NDO), whose deadline closed on January 4th, is expected to result in £500 million retrieved in unpaid taxes and subsequent penalties over the next three years. The number of declarations is far below that of a similar scheme run by the HMRC in 2007, which yielded 45 000 disclosures. Yet according to HMRC statements, the department ... 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
