Welcome to our blog, we’ll try out best to keep you updated on the latest developments in the tax industry as well as pointing out some useful and interesting points around claiming you tax back.
Up to a quarter of a million people, who live and work in the UK for less than six months of the year, should lose their entitlement to personal allowance, currently worth £10,000 a year. On August 12, Chancellor George Osborne revealed tough new measures aimed at curbing down the influx of seasonal workers from EU countries.
Yesterday, HMRC revealed a best off compilation of excuses (some quite hilarious) used by tax credits claimants. This is a fun way to remind anyone wishing to renew their tax credits that they have until July 31 to do so, otherwise they could face losing their entitlement.
Ok, we all know that many people overpay their income tax and can claim a refund from HMRC. If this is your case, we can help as we are a private registered tax agent with HMRC.
HMRC is using its Health and Wellbeing campaign to encourage professionals in that industry to come forward. The Health and Wellbeing Tax Plan was a campaign that gave health professionals an opportunity to tell HMRC about income still undeclared and get the best possible terms by making a ‘voluntary disclosure’.
Most landlords would already be aware of the ‘Wear & tear allowance’ for furnished lettings, but many are still confused about what it covers. According to HMRC, it refers to “the provision by the owner of plant or machinery, including furniture, for use in a residential property”. Because these items do not qualify for capital allowance, a deduction may be available for a wear and tear allowance.
Emigrating is a truly life-changing event, with so many important things to plan ahead. Most people who are serious about emigrating will carefully prepare their new life ‘down under’ in order to muster any chance of success. So you’ve sorted out your visa and a place to stay? Good. And you secured that new job too? Excellent. Packing & moving arrangements all done? Splendid!
You may have spotted this poster or heard the radio campaign orchestrated from HMRC in an effort to reduce tax fraud. Their catchphrase ‘We’re closing in on undeclared income’ is no idle threat.
It’s that time of the year again, the deadline for submitting a tax return for the 2013 tax year was 31st January 2014. If you were requested to send in a return and didn’t do it by the deadline, you will incur an automatic £100 fine – dura lex, sed lex (‘the law is harsh but it’s the law’ is the coined adage from the Romans).
Tax codes are a bit of a mystery for most people. Yet, understanding what they are and how they are worked out could help you realise if you paid the right amount of income tax… or not! 1 in 3 people have overpaid their income tax and a whopping £322million on average is overpaid every year!
The deadline for submitting your tax return online for the tax year ending 2013 is the 31st of January 2014.
The deadline for submitting your tax return online for the tax year ending 2013 is the 31st of January 2014.
Employees – Check if you are due a tax rebate using our Tax Refund Calculator
Employees who incur work-related expenses which are not already reimbursed by their employer (or in full), may be entitled to claim a tax rebate.
There are a variety of reasons why you could be due a tax refund, here we explain some of the most common.
A tax refund from HM Revenue and Customs can be very difficult to obtain, without knowing all the rules, regulations and small print you might miss out on all or some of the tax you’re owed.
According to HMRC’s own statistics, 1 in 3 taxpayers overpays tax, with an estimated £322 million remaining unclaimed every year. Yet, few people bother to check if they overpaid tax in the first place, and the majority of taxpayers do not seek the expert help of a tax agent to claim their money back.