Tag Archives: UK Business Taxes
Taxman Faces Writs for VAT Errors
HM Revenue & Customs are facing a flood of legal claims that will blow another massive hole in the public finances. In the past few weeks thousands of High Court claims have been lodges by companies and local councils relating to millions of pounds of interest wrongly charged by HMRC. When HMRC makes a repayment [...]
Full StoryLast Desperate Attempt by a Bankrupt Government
In what may be seen as a final act of desperation by a morally, legally and financially bankrupt UK government, the Treasury, having failed to “crack down” on what it sees as tax avoidance by banks (the UK courts don’t agree with HMRC) has now come out with a “Voluntary Code”. Not only is this daft [...]
Full StoryHMRC Threaten Self-employed Builders
Her Majesty’s Revenue & Customs (HMRC) are convinced that there is widespread tax avoidance in the construction industry and have recently issued a consultation paper outlining their proposals for tackling the problem – proposals which are likely to result in a substantially higher tax burden for many genuinely self-employed workers as well as more red [...]
Full StoryWhat Was the Point of IR35?
The controversial tax which was introduced by Gordon Brown shortly after he became Chancellor has proven to cost far more to administer than the cash it has raised. Gordon Brown has long had the typical socialist view of business owners which sees them all as crooks only concerned with paying as little tax as possible. Tax [...]
Full StoryNew Penalty Regime for UK Taxpayers
Her Majesty’s Revenue & Customs (HMRC) recently published details of a new one penalty system for inaccurate tax documents and returns. This new system replaces the previous wide variety of penalties. The new system relates to returns and documents for the period starting on or after 1st April 20098 which are due to be filed [...]
Full StoryUK Budget Bombshell for Second Home Owners
A shock announcement in the small print of this year’s budget has left thousands of UK farmers and second home owners reeling at the loss of tax breaks without which they may have to sell up. Not a good thing in a falling market. But it could benefit owners of foreign holiday property. Buried deep [...]
Full StoryWithholding Tax Under Challenge
I recently received a question from the owner of a UK company questioning the imposition of Spanish withholding tax on payments his company received from a Spanish subsidiary. He thought that the EU Parent-Subsidiary Directive exempted the tax. In fact it would do for dividends but not for royalty payments, which these payments were for [...]
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