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 “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 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 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 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 Under Chancellor Jeremy Hunt, the self-employed also face a number of tax rises. For example, if you work through a limited company, you may have to pay corporation tax. Government increased the corporate income tax rate this year so owners of limited companies … 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 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 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 MSP pensions make Westminster look downright stingy. Holyrood pensions are more expensive because the annual pension earned is more generous and is still based on final salary with a retirement age of 65. Meanwhile, in 2015 Westminster moved to cheaper, career-average pensions with … 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 HMRC is expected to issue fines totaling £60m after hundreds of thousands of taxpayers missed the deadline for self-assessment. Official figures released on Wednesday revealed that 600,000 people had not submitted their tax returns by midnight on 31 January. The number of defaulters … 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 As many as half of landlords have not set aside money to pay taxes as the self-assessment deadline expires next week, the survey found. Landlords who earned more than £10,000 in property income (before expenses) or more than £2,500 (after expenses) in the … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Conservatives hidden taxes means millions more people will be caught in higher tax rates. But there is a silver lining. Rising inflation and frozen tax thresholds will force 1.5 million taxpayers to pay higher taxes over the next five years, HM Revenue and … 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 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 After nearly 25 years at the city’s top law firm, Dan Neidle expected a quiet retirement — but instead he’s playing a leading role in a political storm. Mr Neidle, who retired from his role as a partner at Clifford Chance last year, … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE There is still a good week until the deadline for submitting the tax return on January 31. But nearly five million have yet to file, and in the rush to meet the deadline, they could risk losing out on lucrative tax benefits. Consumer … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE As the deadline to file your income tax returns creeps closer, social media influencers have turned tax filing into a TikTok craze. Taxpayers they must submit their self-assessments by January 31 to avoid delays due to late payment penalties and interest. In the … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Analysis reveals that Rishi Sunak’s underhanded attacks on revenue are causing an extra 200,000 workers a year tax return headaches. Experts say deep freeze of tax brackets means that hundreds of thousands of taxpayers could be at risk of a £100 penalty because … 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 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 Almost five million taxpayers have still not filed a tax return, according to the latest figures from HM Revenue and Customs. Taxpayers must file their annual self-assessments by January 31 to avoid late penalties and interest. But if you leave your tax return … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE Nearly two million over-65s now have to file tax returns, new figures reveal. It comes as more and more pensioners pay higher taxes under the Conservatives and HM Revenue and Customs is in deep customer service crisis. The latest figures from HMRC show … 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 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 The Christmas and New Year holidays are a surprisingly busy time for tax returns. Anyone required to file a return for the 2021-2022 tax year must file it by January 31, 2023 to avoid late payment penalties. Last year, more than 12 million … Read more
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE More than 3,000 people filed their self-assessment tax returns on Christmas Day this year, perhaps taking advantage of the lull after the King’s speech and before a tense family game of Monopoly. As families across the country gathered to celebrate the festive period, … 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 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 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 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 A court has ruled against HM Revenue and Customs after fining a man for paying tax “too early”. Company director John Howard was charged £300 for three allegedly late filings – made months before the tax return deadline via HMRC’s real-time information system. … Read more