HMRC have confirmed that reports of fraudulent ‘phishing’ emails have risen by 300% over the past year. The figure for August 2011 was 24,000. HMRC are currently helping to shut down around 100 scam websites a month. They are stressing that if anyone receives an email claiming to be from HMRC advising that they are […]
From October 2011 the late submission Construction Industry Scheme monthly returns will result in revised penalties. The penalties are as follows: a basic penalty of £100 for failure to meet due date of the 19th of the month where the failure continues after two months after the due date, a further penalty of £200 will […]
HMRC have published a Gift Aid and Payroll Giving guide for School Charities. The guide contains information and simple examples specifically related to funds received by school charities to help make the most of these donations and identify what qualifies for Gift Aid. The guidance covers the following scenarios: ‘Appeals to fund extra lessons Non-uniform […]
HMRC are reminding individuals and businesses about new Self Assessment penalties for late returns and late payments, which come into effect this autumn. The changes will apply to Self Assessment returns for 2010/11 which must be submitted by 31 January 2012. As stated on the HMRC website: ‘The new penalties for late Self Assessment returns […]
The latest unemployment figures show the number of people out of work rose by 80,000 to 2.51 million in the three months to July 2011. Neil Carberry, CBI Director for Employment Policy, said: ‘This rise in unemployment is troubling, particularly the growing number of young people out of work. With one in five 16-24 year […]
The government has agreed measures with Switzerland to tackle offshore tax evasion. Under the terms of an agreement, existing funds held by UK taxpayers in Switzerland will be subject to a significant one-off deduction of between 19% and 34% to settle past tax liabilities. From 2013, a new withholding tax of 48% on investment income […]
New company car advisory fuel rates have been published to take effect from 1 September 2011. HMRC’s website states: ‘These rates apply to all journeys on or after 1 September 2011 until further notice. For one month from the date of change, employers may use either the previous or new current rates, as they choose. […]
The adult rate of the National Minimum Wage (NMW) increases to £6.08 (£5.93) an hour from 1 October 2011. This is payable to those age 21 and over. The rate for those aged 18 to 20 increases to £4.98 (£4.92) and for 16 and 17 year olds to £3.68 (£3.64) an hour. The apprentice rate, […]
Published guidelines are issued by HMRC. The stated aim is to save time for all concerned by setting out figures which they reckon can be used in the majority of cases They are only advisory, and can apply where the employer reimburses the employee for fuel for business travel in a company car or where […]
The income tax charge on the valuable benefit of having a company car available for your private use is often changed, so as to encourage car makers and drivers to lower CO2 emissions. Plenty of notice is usually given of each change, given that naturally it is not realistic to expect anyone to be able […]
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