http://www.wilson-nesbitt.com/articles/ Wilson Nesbitt Solicitors - Income Tax News RSS feed en-gb email@wilson-nesbitt.co.uk info@flamegreen.com 30 http://www.wilson-nesbitt.com/articles/890/31072008/tax_concerns_for_contractors.html Contractors who are employed by public sector organisations could be hit with tougher income tax obligations under the terms of a new set of government proposals. At present, contractors can claim their travel expenses from the group they work for but the Treasury is considering the introduction... Thu, 31 Jul 2008 19:00:00 BST http://www.wilson-nesbitt.com/articles/775/21052008/britons_should_claim_all_tax_credits.html Taxpayers in the UK should make sure that they claim all of the tax credits available to them, according to a new report.Independent financial advice promoter Unbiased.co.uk has called for people in the country to apply for all available credits in order to avoid paying unnecessary tax.The... Wed, 21 May 2008 13:07:00 BST http://www.wilson-nesbitt.com/articles/768/16052008/simplification_in_tax_forms_needed.html A report has claimed that self-return tax forms are too complicated and should be made simpler to complete.The Committee of Public Accounts has found that forms produced by HM Revenue and Customs are not simple enough to fill in.Conservative MP Edward Leigh, chairman of the committee, said that... Fri, 16 May 2008 14:00:00 BST http://www.wilson-nesbitt.com/articles/761/14052008/tax_break_leaves_no_room_for_manoeuvre.html The chancellor's £600 increase in the basic tax allowance to £6,035 leaves the government no "room for manoeuvre", the Institute for Fiscal Studies (IFS) has claimed.IFS's director Robert Chote told BBC Two's Newsnight programme that this... Wed, 14 May 2008 13:37:00 BST http://www.wilson-nesbitt.com/articles/762/14052008/10p_tax_compensation_plan_announced.html The chancellor has announced how the government plans to compensate lower-earners after the abolition of the ten pence tax bracket.He told the commons that he will increase the individual personal tax allowances by £600 to £6,035 this year.Of the 5.3 million households that lost... Wed, 14 May 2008 13:36:00 BST http://www.wilson-nesbitt.com/articles/757/12052008/consumers_seeking_more_financial_advice.html The credit crunch has increased the number of people looking for financial advice, according to Unbiased.co.uk. Figures released by the independent website show that the number of people asking for advice on investments rose by 33 per cent.The same survey also revealed that the volume of people... Mon, 12 May 2008 13:54:00 BST http://www.wilson-nesbitt.com/articles/746/06052008/most_successful_companies_being_driven_abroad.html The government's tax policies are driving the best companies abroad to take advantage of more favourable tax rates, the Telegraph reports.Despite their previous "reputation for economic competence", the government's current tax policy problems, such as complicated... Tue, 6 May 2008 13:23:00 BST http://www.wilson-nesbitt.com/articles/739/30042008/income_shifting_again_under_attack.html The practice of income shifting has again come under attack by the treasury, according to ContractorCalculator.Treasury officials are in the process of revising proposals to ban the practice, where small family businesses split their dividend income between partners in order to make the most of... Wed, 30 Apr 2008 19:11:00 BST http://www.wilson-nesbitt.com/articles/740/30042008/pension_values_could_fall.html Millions of Britons could see the value of their pension pot fall because of the changes in the income tax system.The chancellor has reduced the basic level of income tax from 22 to 20 per cent.Although this means basic rate taxpayers will have more money to spend, tax rebates on their pensions... Wed, 30 Apr 2008 19:10:00 BST http://www.wilson-nesbitt.com/articles/726/24042008/increased_income_tax_for_highest_earners_would_not_help_poor.html An increase in the income tax band paid by the nation's top earners would not provide a significant amount of money to help the poor, according to research produced by the Institute for Fiscal Studies (IFS) reported in Accountancy Magazine.The IFS analysed evidence from the last 40 years and... Thu, 24 Apr 2008 13:27:00 BST http://www.wilson-nesbitt.com/articles/700/07042008/uk_income_tax_changes_unreasonable.html The latest changes in the UK income tax system will penalise the lowest-paid people in Britain, according to MPs.Government regulation has scrapped the ten per cent tax band, meaning that more people now have to pay the basic rate of tax.The basic tax rate has been reduced from 22 per cent to 20... Mon, 7 Apr 2008 17:14:00 BST http://www.wilson-nesbitt.com/articles/694/03042008/tax_rules_can_be_explained_by_solicitors_in_northern_ireland.html Consumers should ensure that they are paying the right amount of tax, according to the Chartered Institute of Taxation (CIOT).John Whiting, chairman of the CIOT's management of taxes sub-committee, said that Britons should take "an enlightened interest in their tax... Thu, 3 Apr 2008 16:41:00 BST http://www.wilson-nesbitt.com/articles/557/11012008/government_to_produce_taxpayers_charter.html After solicitors in Belfast and Northern Ireland have seen many clients complaining that they don't understand their tax obligations and tax forms, the government has announced a new Taxpayers' Charter will be published. HM Revenue & Customs (HMRC) has announced the launch of a... Fri, 11 Jan 2008 12:30:00 GMT http://www.wilson-nesbitt.com/articles/428/26102007/armagh_tax-dodgers_fined_millions.html There was no way that even the best solicitors in Northern Ireland could have prevented a pair of hoteliers being fined £2.2 million between them after a Belfast court heard evidence of a string of tax evasion offences.Brothers Patrick and John McParland, who own popular Northern Ireland... Fri, 26 Oct 2007 11:03:41 BST http://www.wilson-nesbitt.com/articles/315/10082007/100000_offshore_tax_accounts_targeted.html HM Revenue & Customs (HMRC) is going to investigate a minimum of 100,000 people in Britain and Northern Ireland who have not disclosed off-shore bank accounts.HMRC had given every taxpayer the chance to disclose their offshore accounts with impunity up until June 22nd this year, but more... Fri, 10 Aug 2007 13:15:00 BST http://www.wilson-nesbitt.com/articles/294/30072007/accountants_face_greater_regulation.html Accountancy services in Britain and Northern Ireland will face greater regulation from December 15th 2007.Companies offering accountancy, tax, audit and insolvency services will be forced to undergo monitoring for compliance by an independent professional body or by HM Revenue & Customs,... Mon, 30 Jul 2007 09:15:00 BST http://www.wilson-nesbitt.com/articles/215/28062007/hmrc_consults_on_tax_payments.html HM Customs and Revenue (HMRC) has launched a consultation on improving tax payment options and managing debt.Payments, Repayments and Debt: The Developing Programme Of Work is the title of the new consultation paper, which seeks comments on various proposals to make it easier for taxpayers to pay... Thu, 28 Jun 2007 13:00:00 BST http://www.wilson-nesbitt.com/articles/179/06062007/arctic_case_leaves_hmrc_cold.html Solicitors will be keeping a close watch on the case of Arctic Systems v HM Revenue and Customs (HMRC), as thousands of small businesses could be billed for extra tax if the House of Lords overturns a Court of Appeal ruling on tax in December 2006.HMRC is calling on the House to overrule a... Wed, 6 Jun 2007 12:15:00 BST http://www.wilson-nesbitt.com/articles/165/29052007/ni_workers_most_taxed_in_uk.html The level of tax that workers in Northern Ireland pay is the highest in the whole of the UK, according to the Adam Smith Institute.People in the province pay more than 40 per cent of the value of their wage packet to the taxman, through income deductions, VAT and other taxes. UUP finance... Tue, 29 May 2007 13:00:00 BST http://www.wilson-nesbitt.com/articles/121/11052007/self-assessment_tax_is_taxing.html According to recent research, a third of taxpayers in Britain and Northern Ireland found self-assessment (SA) forms were difficult to understand and therefore complete.The Chartered Institute of Taxation (CIOT) revealed that 89 per cent of taxpayers would gladly welcome changes to the tax system... Fri, 11 May 2007 13:00:00 BST http://www.wilson-nesbitt.com/articles/85/18042007/offshore_accounts_due_tax_probe.html The Chartered Institute of Taxation (CIOT) has announced its support for new procedures to enhance clarity within the area of undisclosed income.HM Revenue & Customs (HMRC) has targeted offshore bank accounts in particular, with a new tax administration initiative, which effectively... Wed, 18 Apr 2007 14:30:00 BST http://www.wilson-nesbitt.com/articles/56/23032007/browns_budget_heralds_major_tax_reforms.html Although Gordon Brown's Budget was described as 'fiscally neutral' by some and a 'con trick' by others, the chancellor defended the latest measures announced on Wednesday, saying that a massive overhaul of the tax system was on the way.In an interview with Sky News, Mr... Fri, 23 Mar 2007 17:45:00 GMT http://www.wilson-nesbitt.com/articles/45/16032007/concern_over_tax_inspector_incentives.html Concerns have been raised over new plans that could see tax inspectors across Great Britain and Northern Ireland receive incentives for finding further taxable funds.Under proposals from HM Revenue and Customs (HMRC), tax inspectors could be put onto incentive schemes that will result in them... Fri, 16 Mar 2007 12:54:48 GMT http://www.wilson-nesbitt.com/articles/31/07032007/income_tax_fraud_on_the_increase.html New research has suggested that tax fraud is on the increase in the UK and income tax fraud is representing a major part of that problem.Solicitors in Northern Ireland and the rest of the UK are set to see the number of claims brought to them regarding income tax fraud rise over the years ahead... Wed, 7 Mar 2007 19:00:00 GMT http://www.wilson-nesbitt.com/articles/26/05032007/conflicting_opinion_over_stamp_duty_rises.html Almost a quarter of postcode districts in Great Britain and Northern Ireland now qualify to pay the higher three per cent stamp duty rate, which applies to properties valued above £250,000. This figure is compared to only one in 20 districts five years ago, a new report by Halifax... Mon, 5 Mar 2007 00:00:00 GMT