From October this year, HMRC is set to gain powers to take money directly from your bank account. While HMRC seemed to be amending legislation in line with public concerns, it now appears promised safeguards are not in place.
In the distant past, surplus company money was often used to buy expensive cars with which company owner-directors could have their fun, but tax on company cars soon became prohibitive. Is 2015 your only chance to save tax by buying a Porsche?
Despite it being alleged that it’s the footballing megastar’s father who has control over the family’s finances, judges have confirmed that Lionel Messi will probably still be prosecuted for tax evasion in the Spanish courts.
Every business owner has an obligation to ensure they pay the correct amount of tax to HM Revenue & Customs, but that doesn’t mean they should ignore legitimate tax breaks or fail to account for deductible business expenses.
With a number of similarities to PAYE, the Construction Industry Scheme (CIS) is a mandatory withholding tax from a self-employed construction subcontractor's payments and paid directly to HM Revenue and Customs on their behalf.
Your venture is growing and you haven’t had a weekend since you had the idea for the business. Perhaps it’s time to hire some staff, but do you know the legal and financial implications of becoming an employer? We explain your basic obligations in two short articles.
It might have taken a judge 147 pages to describe what Gary Barlow and his Take That cohorts did wrong but in the eyes of the law in fact none of the charges were criminal. So what's the difference between tax evasion and tax avoidance?
With its soft sponge base, thin chocolate topping and tangy orange centre it would be hard to find someone in the UK who didn’t like the humble Jaffa Cake, well, unless you ask around the HMRC office that is.
In 1991 the powers that be at HMRC tried to reclassify Jaffa Cakes as biscuits which would have pushed up the price by 20%. There was an outcry. How could the Jaffa “Cake” which goes from soft hard when stale, as opposed to a biscuit which goes from hard to soft when off, be victimised like this?!
We know that keeping track of all tax rules can be hard, especially as we live in an increasingly global economy. Don't fear, that's why we're here. Your business could be hit by double taxation, make sure you are prepared.
Valentine’s Day is round the corner so it’s time to stock up on your partner’s favourite chocolates and flowers.
Sometimes a card is enough to say those three magic words, ‘I love you’, especially for married couples but if that just won't cut it and you're struggling to think of something orginal then you could turn to HMRC.
The festive season is over, the New Year fireworks have long since faded, so now it’s time for small business directors and sole traders to turn to the serious January business of the dreaded self-assessment tax return.
VAT can be tricky to understand when you’re a start-up or even if you’ve been in business for a while. We’ve written this article to make it clear and to help you ensure that you have the most effective set up for your small business.
1966 was the year UK celebrities ran for their lives as the whopping 95% supertax rate was imposed by Harold Wilsons Labour Government.
Mick Jagger fled to France and John Lennon legged it to the United States while his Beatles comrades penned a song entitled the Taxman to express their disgust at the sky high charge but even now with the UK’s top tax band being less than half of that the subject of tax still raises hot debates amongst UK citizens.
Here we take a look to see if we really are moaning for a reason, are we really are amongst the worst off when it comes to the most taxed earners in the world?
In these challenging economic times, it makes sense for small business owners to make sure that they aren't overpaying corporation tax. We've put together some tips which we have found useful when trying to keep tax to a minimum.