Correcting VAT errors
We all make mistakes from time to time and underpaying VAT due to an error on your last VAT return can be corrected quite easily by adding it on to your next VAT return. In most cases that will be the end of the matter, however HMRC’s view of careless errors is quite uncompromising so … Continue reading Correcting VAT errors
We have recently lost a great and well-loved comedian when Ken Dodd passed away a few weeks ago. One of the last of the old “music hall” artists he continued to work until a few months before his death. His final performance was on 28th December last year, just 3 months before his death, at … Continue reading How Tickled I Am, And Up Yours, Mr Taxman
Thinking of doing a bit of work on the side? You might change your mind after reading the latest quarterly list of deliberate tax defaulters’ details that has recently been published by HMRC. This latest listing has added 133 names to the list of those who have received penalties either for deliberate errors in tax … Continue reading Largest Tax Defaulter charged £4,300,000 in penalties
Elsewhere in this newsletter we have looked at some of the huge penalties that have been levied by HMRC. The amount of penalties charged have increased recently under certain circumstances. Below we look at how penalties are calculated, and when they have now been increased. When a taxpayer fails to notify HMRC of their tax … Continue reading Penalties for tax errors increased
A potential problem that may affect many parents has been highlighted by MPs who are warning that the changes to child benefit and poor communication from HMRC may mean thousands of parents risk losing out on future pension entitlements. The problem has arisen since child benefit was reformed so that for couples where one partner … Continue reading Pension Entitlements Hit By Child Benefit Changes