Introduced as a result of the Finance Act 2012, and flagged in our previous post on HICBC and followed up here, the new High Income Child Benefit Charge has sent shockwaves through certain taxpayers. This new charge came into effect on 7 January this year and is already impacting on a huge number or people, [...]
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It’s the time of year when company directors need to have P11Ds on their agenda. In effect, any company that has extended benefits or paid expenses to either its directors or its employees needs to be collating the details of those payments or benefits and getting them ready to send to HMRC. What’s more, any [...]
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HMRC publishes an array of tax statistics. One item that caught my eye was that for the 2012-13 tax year, the top 1% of earners are projected to have paid 26.5% of all Income Tax receipts. This figure is predicted to rise to 29.8% for 2013-14. The last year for which certain figures are available [...]
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Although Employee Shareholder Status has finally received the green light and looks set to go ahead later this year, it’s journey to fruition has been far from plain sailing. Going back to October 2012, this new status was mooted by George Osborne at last year’s Conservative Party Conference. Neatly described by Osborne as a three-way [...]
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Most employers currently have their eye firmly fixed on the Real Time Information (RTI) ball. Keen to make sure they have their RTI ducks in a row, it would be only too easy this year to miss another deadline or two. One deadline and reporting structure which will remain unaffected by RTI is the reporting [...]
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Fury was raging amongst MPs only last week when it was disclosed that RWE npower, which is one of the “Big Six” UK energy suppliers hadn’t paid corporation tax in the years 2009-2011. This news story is the latest in a string of attacks on big business by MPs, who are reported as claiming that [...]
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As regular readers of this blog will know, we published an article earlier this year outlining the general anger at the proposed HMRC rule change regarding ESC A19. In a nutshell, HMRC has now consulted on whether or not they could or would bring about Extra-Statutory Concession (ESC) A19 changes that would effectively make taxpayers [...]
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Patent Box is a new tax saving opportunity for innovative firms in the UK to pay a reduced rate of tax on any profits they make from intellectual property. Essentially enabling a final rate of Corporation Tax as low as 10%, this new scheme came into force in April of this year (2013). Qualifying companies [...]
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In their last round of election campaigning the Conservatives voiced their desire to raise the Inheritance Tax (IHT) Nil Rate Band (NRB) to £1m, with a view to dramatically cutting the proportion of the population who were being brought within the scope of the charge, largely by virtue of the value of their homes. A [...]
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No matter in which sector you trade, there’s always a bit of nail-biting suspense before a Budget. Invariably, you’ll have people chasing you to do things before the ‘sell-by’ date that’s predicted or encouraging you to take preventative measures, but the time immediately after a Budget is often the most interesting time to take time [...]
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Hitchin Boys School Year 9 cricket teamJune 18, 2013
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Does the new High Income Child Benefit Charge affect you?June 17, 2013
Introduced as a result of the Finance Act ...
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