MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE These accountants and tax advisers enable families to set up new businesses and use the dividends to pay for their children’s school fees through a fund that is taxed at a significantly lower rate than usual due to tax-free personal and dividend allowances … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE There were hundreds of thousands of innocent taxpayers the target of investigations by HM Revenue and CustomsThe Telegraph can reveal. A total of 267,000 civil investigations of taxpayers conducted between the 2019-2020 and 2021-22 tax years did not result in any “compliance returns”, … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Grieving families have been forced to pay thousands in extra inheritance tax due to severe delays in the courtsThe Telegraph reported in March. It comes after one in five applications for probate, the legal document needed to administer the estate of a deceased … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE He said: “For the past eight years, people have known that if a loved one dies under 75, they can inherit an intact pension free of all tax. “The money could sit in a drawing account, invest and grow, and be a source … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE A tax official has been accused of charging high interest rates to taxpayers who struggle to pay their bills on time. As of March 2023, 565,000 HMRC taxpayers were paying interest on their late tax payments, according to official figures. The number jumped … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Another fundamental flaw is the way independent taxation has been swept aside, requiring partners to know intimate details of each other’s financial affairs. Furthermore, it was certainly presumptuous for our legislators to assume that it would be clear who was and who was … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Since launching 10 years ago, HICBC has raised around £2.8bn, according to the latest official figures for 2019-2020. The £50,000 limit has remained the same since 2013. If it rose with inflation, it would be more than £65,000 today. Decision on the freezing … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE The Public Accounts Committee – responsible for scrutinizing government spending – has previously branded HMRC’s levels of customer service as “unacceptable”. HMRC’s performance figures show this average call waiting times at the tax office more than tripled last year, from five minutes and … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE HMRC defended its scheme, suggesting that there would never be a situation where large numbers of staff volunteered at the same time. Based on 66,000 employees, 3,500 days equals 25 minutes per person each year. HMRC’s policy is more generous than other government … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE “It would not be unreasonable for people to be concerned about the penalty,” he added. “If you have a problem with HMRC, every day it’s not resolved is tax on the line and potential for minimal interest costs and penalties below. “The new … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Kieran Bowe, of law firm Russell-Cooke, said that in some cases the interest on the inheritance tax bill now exceeds the return on the estate’s property portfolio. He said: “Since 2008 interest on inheritance tax is no longer a problem. Now the rates … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE HMRC wrote that she was seconded for two years and returned in December 2019: “I am not self-employed, I am PAYE employed but I am responsible for all PAYE payments as part of my job. . I am afraid that the person to … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE But you should think twice before touching the bank of grandma and grandpa. Depending on who makes the transfer and when, paying tuition fees can result in an unexpected inheritance tax bill. Tuition Fees: Inheritance Tax Relief? Inheritance tax is not payable on … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE A contractor has been accused of recruiting 10,000 Filipinos to take part in an alleged tax fraud that is believed to have cost taxpayers at least £50 million. An investigation by Tax Policy Associates alleges that the Anderson Group, a construction contracting firm, … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE What is the threshold for inheritance tax? Each individual is taxed at a rate of 40% on all their wealth above the £325,000 threshold. This threshold is known as the zero degree band. But from April 2017, additional protection known as the ‘family … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Responding to a letter from the HMRC advocating the closure, the chair of the influential Finance Committee Harriett Baldwin today slammed HMRC for a “failure to lead” after the HMRC revealed it failed to consult third parties about the impact of the helpline. … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE But about 11 million people file a “self-assessment” income tax return if they have other sources of income or have had them in the past. HMRC fined 92,000 of the lowest-paid 10 per cent of residents for filing their tax return late in … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Many say the introduction of the nil-rated residential band has increased confusion for taxpayers. Shaun Moore, of investment firm Quilter, said: “Although it was introduced with the aim of making more estates exempt from inheritance tax, in practice its use has often been … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE It is not the first time HMRC has been questioned by MPs over customer service issues. At the beginning of the year is the Finance Committee asked HMRC why taxpayers were made to wait on the phone for hours before it is cut … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE The pensions helpline is set to see a further surge in activity in the coming months, with money-saving expert Martin Lewis set to cover the issue on his ITV show on Tuesday. After the extension, the consumer advocate wrote on Twitter: “I suspect … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Demands from the Inland Revenue to divert funds to deal with Brexit and staffing crunches amid the coronavirus pandemic have also pushed the new system forward. Gareth Davies, head of the NAO, said: “Repeated delays and the re-design of Making Tax Digital have … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE meanwhile, the number of marriages has decreased. From 1989 to 2019, the number of marriages decreased by 36.6%. Marriage rates fell to a record low in 2020 as wedding venues and registry offices closed due to quarantine. The structure of families has changed … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE The announcement also comes just three weeks after HMRC launched a campaign urging taxpayers to file their tax returns earlier this year. Tax experts have warned that the last-minute shutdown will cause a rush to phone lines this winter, putting more pressure on … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE If you are employed you will also have a PAYE reference number which will look something like this 203/S12345. This will be your employer’s PAYE reference, but together with your name is sufficient for HMRC to find your details. If you need to … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Pam Ermisz, 69, Netley Abbey, Southampton: “HMRC lost my inheritance claim” Mrs Ermisz’s brother died unmarried and without a will, leaving her – his only sibling – as executor. When she applied for letters of administration, Ms Ermisz said HM Revenue and Customs … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE The longer the wait, the more the interest will increase. Someone who owes £100,000 and started paying interest at the start of this year would have owed more than £2,600 in interest by now, according to HMRC’s online calculator. Waiting times for probate … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE A Conservative government could save the middle class from this growing injustice in one fell swoop – and with relatively little impact on public finances, experts have suggested. Inheritance tax brought in £7.1 billion for the Exchequer in the last tax year, just … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE He said: “The people operating the phones do not have sufficient training or expertise. “It can be passed on to frontline staff, but ultimately politicians need to provide HMRC with the appropriate funding it needs. “If ordinary people can’t get to the taxman, … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE According to reports, the High Court judge, who ruled on tax cases, invested in a tax avoidance scheme along with two of her colleagues. Judge Joanna Smith invested in a controversial tax scheme challenged by HM Revenue and Customs before being appointed to … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Laura Suter, a broker, said about one in ten people who were supposed to file their tax return were asked to pay late interest. “With tax-free allowances for capital gains and dividend taxes falling dramatically over the next year, more people will have … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Basic rate taxpayers face losing more than two-thirds of their income to hidden taxes – and rates will only get worse as the bands remain frozen until 2027-28. There are three levels of income tax in the UK: Basic, 20 pcs each Higher, … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Why are Aim shares risky? The cost of listing on Aim is lower than on the main market, and the requirements are also less demanding. To list on the main market of the London Stock Exchange, companies must be in existence for at … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE An ‘absolute disgrace’ as hundreds of thousands of pensioners are taxed £3,000 too much. MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE What happens if a parent has not opened a trust fund account for the child? A third of children’s trusts were set up by HMRC on behalf of eligible children because parents and guardians failed to do so within a year of receiving … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Official forecasts released at the Spring Budget show the 40% death toll will add £38bn to the Exchequer over the next five years, with annual taxes expected to reach £8.4bn by 2027-28. Andrew Tully of pensions company Canada Life said the record numbers … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE The three-year rule You may be able to claim a refund of the 3% stamp duty surcharge if you sell your main residence within 36 months of completing another property. To qualify, you must send your claim to HMRC within 12 months of … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Income tax collected through the PAYE system represents the largest single source of government funding. This year, HMRC expects to collect £228 billion through PAYE. Add to that the bulk of the £172 billion in National Insurance contributions, which amounts to around 40 … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Many people choose to make lifetime gifts to bring their assets below the £325,000 ‘nil rate band’, below which no IHT is owed. On death, tax is charged up to 40% on anything above that. As death benefit tax rises, more families are … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE One in three with higher earnings they potentially don’t know they’ll be dragged into the top tax bracket, according to Barclays Wealth research. A worker on £145,000, who was just below the previous threshold, will pay almost £1,000 more in tax this year … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Pension reforms that could cost you £150,000. MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Those who are dragged into higher income tax brackets have a double whammy. For example, if you earned just above the higher rate threshold in the current tax year and earned £2,000 in dividends, you would not have to pay dividend tax. But … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Others inherit investment portfolios that have declined in value due to stock market volatility. Mr Richards said one of his clients lost £1m because delays in an inheritance meant the family sold their £3m portfolio after the start of the Ukraine war, by … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE But with careful planning, dreams are possible. Here, The Telegraph explains everything you need to know about how to retire early and how much money you’ll need to get the retirement you want. When is the earliest I can retire? The earliest age … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Millions of grandparents help look after their children every year, and while many are happy to do so out of the goodness of their hearts, few realize that spending time with their grandchildren could also boost their State Pension payments – if they … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE The beginning of spring heralds the end of the tax year. With April 5th fast approaching, now is the time to complete your year-end tax planning. For those of us who are trying to save for the future, this year is especially important … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Most people’s hearts sink when an HMRC envelope comes through their letterbox. Unless, of course, they are for a tax refund. Terry Wright, 80, from Hammersmith, was pleasantly surprised when HMRC wrote to him in June 2022 saying he had paid too much … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE It is confirmed that as many as 10 people have taken their own lives due to the tax crackdown, which definitely needs to be stopped as soon as possible. I’m talking about the controversial “loan load”; a tax levy passed in 2017 that … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE HM Revenue and Customs has been accused of charging “simply unfair” interest rates to taxpayers who faced late payment bills that were up to 17 times higher than what is returned to those who have overpaid. The Chartered Institute of Taxation, a trade … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Self-assessment season may be over, but after seven years of filing tax returns I’ve been stung again by the added burden of HMRC – payments on account. Putting money aside for my tax bill should be easy enough, especially for a personal finance … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE More than 600,000 people are expected to miss Tuesday’s meeting deadline for self-assessment, which resulted in HM Revenue and Customs incurring £60m in late payment penalties. Hundreds of thousands will face an automatic penalty of £100 if they fail to file their tax … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Filing your taxes is never as easy as it should be. But this year it was much worse. I have now calculated that I have spent 24 hours on hold at HMRC trying to resolve what should have been a simple question. But … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Almost 400,000 taxpayers were fined for not filing their tax returns on time – even though almost none of them owed any tax. Taxpayers required to file a self-assessment tax return will be hit with an automatic £100 fine if they miss the … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE The maximum penalty can then be reduced in three ways. If you tell HMRC about the mistake, the penalty can be reduced by up to 30 per cent. If you help the taxman with their investigation, it can be reduced by up to … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE There are also fears that the ongoing dispute over the tax affairs of Mr. Zahawi, now in his 10th day, came as a “gift” to Sir Keir Starmer at Prime Minister’s Questions on Wednesday. Downing Street said on Tuesday that the inquiry into … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE An outage at HM Revenue and Customs’ website has blocked taxpayers from completing their tax returns in the latest spate of IT delays and breakdowns. Thousands of reports were sent to outage tracking website Downdetector between late morning and early afternoon on Tuesday … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Families will pay a record amount of inheritance tax to the Treasury, official figures have revealed. Grieving relatives paid £5.3 billion in death benefits between April and December 2022which is £700 million more than the same period a year earlier, HM Revenue and … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE One relief that allows spouses to pass on family savings tax-free to each other is £500 million less than HMRC had expected. The second, the nil-rated residential band, cost taxpayers £1.3bn in 2019-20, £100m less than previous estimates. Chris Etherington, from tax firm … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE HM Revenue and Customs will answer hundreds of thousands of taxpayers’ basic questions by text this month in a bid to improve the lot of its poor customer service record. Taxpayers with routine questions will receive a text message with a link to … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Former Sky Sports pundit Stuart Barnes professional rugby playerwon a £700,000 IR35 case against HM Revenue & Customs, accusing him of working as an “undercover employee”. Mr Barnes was involved in a dispute with HMRC over a £700,000 tax bill for income tax … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE HMRC makes millions of pounds from taxpayers who delay paying their self-assessment bills. Taxpayers who apply to settle their self-assessment bill late could pay HM Revenue and Customs a total of up to £10m in interest this year, new analysis suggests. More than … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE HM Revenue and Customs is targeting social media influencers and online sellers who avoid tax in its latest campaign of incentive letters. Offshore companies that have property in the UK and cryptocurrency tax dodgers were previously the focus of HMRC these “nudge letter” … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE HMRC head office is sure to be stung damn report issued by the Public Accounts Committee last week. In one piece, he concluded that “it is not acceptable to not answer calls from people trying to pay government money”. Surely the ability to … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE HM Revenue & Customs is closing down taskforce set up to recover £4.5bn of covid fraud after admitting that the division was not good value for money. The Taxpayer Protection Taskforce has been set up to tackle fraud in the government’s Covid financial … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE HMRC was ordered to pay back the penalty after the court ruled it was not fair to expect it to have known the value of the company car should count as income. The tax office has been criticized for its “aggressiveness” after fining … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Thousands of HMRC workers are preparing for a strike vote as taxman struggle to improve “unacceptable” levels of customer service. Around half of HMRC staff – around 30,000 members of the Public and Commercial Services (PCS) union – will vote on Monday on … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE This January marks 10 unlucky years since that the introduction of the “High Income Child Benefit” charge.. HICBC, introduced by the coalition government of David Cameron and George Osborne, has left thousands of people having to file a tax return and hundreds of … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE MPs have given HM Revenue and Customs three months to improve “unacceptable” levels of customer service in the damn report. The powerful Public Accounts Committee (PAC), responsible for overseeing government spending, said it was “not convinced” that HMRC’s plans to tackle its problems … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE The number of new non-home in Britain has fallen 40 percent in a year as the threat of a tax crackdown on foreign nationals begins to alienate entrepreneurs. The number of new applications for foreign tax status fell from 14,200 to 8,500 in … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE MPs have raised “serious concerns” about HMRC’s ability to answer calls from taxpayers after The Telegraph revealed that workers were kept waiting for several hours as government personnel worked from home. More than five million taxpayers have until January 31 to file outstanding … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Millions of workers and retirees face the possibility of penalties if they don’t file their tax returns on time before the month-end deadline. At the same time, taxpayers report long and frustrating delays when calling HMRC to ask for help and guidance. The … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Taxpayers have been left with huge phone bills after mistakenly using hoax calling services to contact HM Revenue and Customs. Taxpayers who need to call HMRC have been urged to carefully check online search results and avoid calling numbers starting with 09, 087 … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE HM Revenue & Customs targets bereaved families with raid inheritance tax after making a record £326m from investigations last year. The Inland Revenue has stepped up efforts to seize money from families who underpay their inheritance tax bill, in a sign that it … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE The advantage of VCTs is that you can invest up to £200,000 a year with 30% income tax relief if the funds are held for five years, plus tax-free capital gains and dividends. Octopus Investments’ Nick Bird, head of VCT, says these tax … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE This is similar to the referee moving the goalpost just as the shooter is taking a penalty kick. Last week is the Court of Appeal decided unanimously for Wilkes and it is a shame that other families will not now benefit from this … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Hundreds of thousands of parents risk fines for claiming too much child benefit following Jeremy Hunt’s stealth tax raid. It is in the autumn statement the chancellor has frozen the threshold at which the allowance falls to £50,000, despite rising inflation. If one … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE HM Revenue and Customs has lost £9bn after cutting staff dealing with tax avoidance during the Covid pandemicthe spending watchdog said Thursday night. National Audit Office (NAO) said HMRC had moved thousands of tax compliance staff into Covid support schemes, reducing its capacity … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE HMRC has closed all its phone lines and cannot say when they will reopen, leaving taxpayers with urgent questions on hold. On Friday morning, the tax office warned that no one would be able to call the department by phone after it had … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE John Cullinane of the Chartered Institute of Taxation, a trade body, told me: “There is a strong case for the wider use of enforcement, but the barriers to this are real and serious. This could easily result in less revenue for HMRC, at … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE As Lenin once observed, “There are decades when nothing happens and weeks when decades happen.” This seems as true today as ever. I have never known a time of such uncertainty with so many people U-turns in short succession. At her party conference … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE A buyer buying a property for £1m would face a stamp duty bill of £41,250, but a buyer buying four linked properties for a total of £1m could claim relief and pay just £10,000 – a saving of £31,250 pounds. This is because … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE HM Revenue and Customs has lost a £25m legal action after charging a man with smuggling alcohol into Britain and freezing his assets for seven years. Parul Malde accused of evasion by HMRC VAT and excise duties on imported alcohol, won its landmark … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE I served on the subcommittee when it was first formed. Our president, the former Minister of Finance, made it clear that we are there to advise and that the ministers decide on this. Of course, this should be the case, but the point … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Millions of grandparents could lose £275-a-year tax relief for looking after their grandchildren. A little-known rule refers to grandparents looking after children under 12 years of age can get National Insurance tax credit worth 1/35 of the full state pension up to their … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Savers have had to raid pension funds to cope with rising living costs, new figures from HM Revenue and Customs have revealed. More than 500,000 pensioners withdrew an average of £7,200 between April and the end of June – a total of £3.6bn. … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Tens of thousands of laid-off workers are forced to pay a “hidden tax” up to £7,500 on their payouts due to the little known HM Revenue and Customs rule. About 51,000 people paid income tax on their severance pay in 2017-18, the latest … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE It is after the trauma of the pandemic The NHS is on its knees in a bleak winter. Patients face a daily battle to get seen by their GPalmost 7 million people are waiting in line for treatment, delays to emergency services are … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE I was then contacted by various other journalists asking how they could take the story forward. Obviously, this included how their readers would be able to get their money back, but there is another group of interest, and that is those directly related … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Over the past year, tax officials have launched investigations into 270 professional footballers, equal to one for every 12 players in the top four divisions in England and Scotland. HMRC figures show this tripled the number of investigations into players’ tax affairs last … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Taxpayer gifts to the national treasury have fallen sharply over the past five years as the general public has grown disillusioned with high taxes and excessive government spending. A freedom of information request by The Telegraph revealed that the Treasury received £16,122 in … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Overall, the death benefit will take in an extra £2.3bn this tax year, with benefits jumping by a third to £8.3bn, according to forecasts from the Office for Budget Responsibility. The Wealth Club’s Alex Davies said the “nil rate band” has remained at … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE The number of self-employed people and landlords fined for careless mistakes in their tax returns rose sharply last year as the Inland Revenue tried to clamp down on £32 billion “tax loophole”. Pressure has increased on civil servants to deliver HM Revenue and … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE A troubled Belfast shipyard that built the Titanic has been rescued with a £55m defense contract just weeks after the tax authorities tried to shut down the company. Harland & Wolff has won the first defense contract in its 161-year history to refit … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE The official calculator says those on £70,000 will pay just £178 more in NI over the next 12 months compared to the same period last year. In reality, the actual increase in tax in the previous tax year will be £447. A note … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Bereaved families face up to £ 140,000 avoidable inheritance tax due to confusion over the “most confusing” rule of the death benefit. From 2018, homeowners will receive additional tax breaks for their main home when they transfer it to direct descendant, known as … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Tory MP Kevin Hollinrake, a member of the Commons Treasury committee, said: “It is often in people’s financial and personal interests to work from home, so it doesn’t seem appropriate to have a tax credit for those who choose to work from home. … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE 5) Remember that parental allowance is not child’s play I sometimes wonder who invented the rules on child benefits and in particular the “high-income child benefit tax”. The the system was clearly perverted from the day it was first published, but we got … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Sir Steve Webb, a former pension minister and now a partner at LCP, said it was a “shame” that ordinary savers who wanted to access their pension savings were routinely overburdened and forced to claim the surplus. “This‘ money carousel ’lasted long enough. … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Nearly two million people have said they plan to cut back in 2020 after the holidays removed one of the biggest barriers to relocation, real estate builders Audley Villages say. Sean McCann of NFU Mutual advisers said the rules were “terribly complicated”. “They … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE The young savers have returned £ 34 million in Isa bonuses to help fund the cost of buying their first home. Potential buyers have returned record sums from their Lifetime Isas in the last tax year, money earmarked for a deposit. The amount … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE This year, HM Revenue & Cars will waive fines for delays in tax returns, and almost half of self-assessed taxpayers must submit their documentation before the January 31 deadline. For the second year in a row, the tax authority has postponed the deadline … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE A former senior civil servant in charge of Brexit planning has warned that some British companies may “abandon imports” due to new rules introduced in the new year. Philip Rycroft, who was permanent secretary of the Department for Exit from the European Union … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Despite inflation and wage growth, the border has not risen for almost a decade. The wage ceiling level is so outdated that 120,000 families with a basic tax rate will be forced to pay benefits next year, even though it was designed to … Read more