Blame The Missus When There Are Issues With Late Tax
Timothy Cooke (TC) successfully appealed against penalties of about £10,000 for late payment of tax. TC made a capital gains on the sale of shares of £380,000 in the year to 5th April 2012 on which tax of £100,000 was payable on or before 31 January 2013. However, he did not pay the tax until … Continue reading Blame The Missus When There Are Issues With Late Tax
A business lady in Northern Ireland found that there was no hiding place when her address was raided by HM Revenue & Customs. In February 2012 Donna Magee was found in a cupboard when her premises were raided and false VAT invoices, bank statements and computer records were found that had used to reclaim VAT … Continue reading No Hiding Place For People Creating False Accounts
It is 15 years since the National Minimum Wage was first introduced in 1999. It currently stands at £6.31 per hour for adult workers and this is set to increase in October to £6.50. This means that someone working 35 hours per week should be earning £221 per week, or £957 per month, before deductions. … Continue reading HMRC: Workers underpaid in 47 % of investigated cases
WatkinsonBlack advocate the use of ‘cloud accounting’ we endorse this by using Kashflow. What do we mean by ‘cloud’? ‘Cloud’ is an area of the internet where relevant data can be accessed online anytime, anywhere, from any internet connected device meaning small business owners can stay connected to their data and to their accountants. The … Continue reading What is Cloud Accounting?
No doubt you have all heard about Gary Barlow and the other members of Take That who are facing a tax bill of about £20m following HMRC’s success in challenging a “tax avoidance” scheme that they entered into. Basically, the scheme made use of perfectly legitimate tax reliefs that are available on investment in intellectual … Continue reading Take That and a lesson to learn