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
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
Do you work for someone else? Most people who do will have tax deducted from their wages and paid to the tax office by their employers. However, that may not mean that you have paid the right amount of tax, and if you have underpaid then in many cases the tax office will hold you … Continue reading Should you pay tax in a second income?
Decisions arising from the transition to real time information (RTI) have started to emerge at tribunal with two latest cases ruling in the taxpayer’s favour. From just a few of the cases so far the complications around making the transition to RTI, the general trend is not a great deal of pleasure to the taxpayer. … Continue reading Taxpayers win in RTI penalty appeals
Most people would assume that if: – they had a choice between two courses of action, and – their choice had a direct bearing on the actions of someone else, then it would be their responsibility to let that other person know how they intended to act. However, that does not apply to the tax office! … Continue reading Don’t rely on the tax office!