Income Tax

HMRC targets tax evasion in NI restaurant trade

HMRC targets tax evasion in NI restaurant trade

14th May 2013

Her Majesty's Revenue and Customs (HMRC) has set up a special task-force to target tax evasion in the Northern Ireland restaurant trade. A significant sum of money has been made available... Read more

Tax fraud prosecutions double as HMRC gets tough

26th April 2013

The aggressive approach taken by the HMRC to tax evasion and tax fraud over the past couple of years has seemingly paid off, as prosecutions relating to tax fraud are... Read more

How the 2013 budget benefits Northern Ireland

21st March 2013

Now that Chancellor George Osborne has delivered the government's 2013 Budget the analysis and commentary on who wins and who loses begins. In Northern Ireland in particular, quite a large... Read more

2013 Budget tax announcements at a glance

20th March 2013

Chancellor George Osborne has today delivered the 2013 Budget. Here are some of the key points in respect of tax: Income Tax From April 2013 the personal allowance will increase to £9,440 By... Read more

First list of tax dodgers published by HMRC

21st February 2013

The HM Revenue and Customs (HMRC) has published a list of 'deliberate tax defaulters' for the first time, in a week when there has been talk of adopting a name... Read more

'Labour gov would bring back 10p tax rate'

14th February 2013

Ed Miliband has announced that if Labour are returned to government they will bring back the 10p starting rate of tax. It was actually the Labour party, led by Gordon Brown,... Read more

Proposed simplification of tax for pensioners

23rd January 2013

The Office of Tax Simplification (OTS) has recommended changes to the tax system in respect of pensioners, including a rethink on allowances and savings incentives. The OTS have suggested the introduction... Read more

Self-assessment tax return deadline looms

18th January 2013

The deadline for the submission of online self-assessment tax returns is approaching, with taxpayers failing to meet the 31st January deadline to receive a £100 fine, even if they do... Read more

HMRC tells employers to prepare for PAYE changes

17th January 2013

Employers in Northern Ireland are being advised not to leave it too late to make the necessary changes in order to be able to comply with new Pay As You... Read more

New Years resolutions more finance orientated

31st December 2012

The past couple of years have seen a change to the most popular New Years resolutions made by people in Northern Ireland and the rest of the UK. While dieting, exercise... Read more

HMRC warns late self-assessment tax filers

14th December 2012

The 300,000 people who failed to meet the deadline for filing their self-assessment tax return, and continue to ignore letters from the HMRC, have been warned that it could reach... Read more

Chancellor's Autumn statement: Tax summary

5th December 2012

Chancellor George Osborne announced the government view on the UK economy and its future plans in his Autumn Statement today. In particular, there were a number of tax changes outlined,... Read more

End of month deadline for self assessment returns

22nd October 2012

People in Northern Ireland and the rest of the UK that file paper self-assessment tax returns have just over a week to avoid large fines. Approximately 20% of self-assessment returns are... Read more

Self Assessment deadline looms for paper returns

2nd October 2012

Taxpayers in Northern Ireland and the rest of the UK are being notified by HMRC to submit their self assessment tax returns before 1st November 2012 in order to avoid... Read more

Higher rate taxpayer deadline looms

5th September 2012

Higher rate taxpayers in Northern Ireland and the rest of the UK have until 2 October to contact HMRC to confirm they wish to take part in their Tax Return... Read more

HMRC campaign targets higher rate taxpayers

3rd September 2012

HM Revenue and Customs has written out to 7,100 taxpayers in Northern Ireland and the rest of the UK advising them to submit their tax returns or face fines and... Read more

Employers favour cut in NI contributions

30th August 2012

A new survey has revealed that Employers would most prefer to see a cut in the rate of employer National Insurance contributions (NIC) over any other tax relief. Of those polled... Read more

Clegg proposes emergency 'wealth tax'

29th August 2012

Deputy prime minister Nick Clegg has proposed an emergency tax on the wealthiest people living in Northern Ireland and the rest of the UK for a limited period of time. Mr... Read more

HMRC to send out 50,000 penalty letters

16th August 2012

Half a million people who failed to submit their tax returns for 2010/11 before the deadline will receive penalty letters this week. The introduction of higher penalties in April 2011 has... Read more

Tax evasion informants payments on the rise

2nd August 2012

HMRC has paid out over £1m to tax informants in Northern Ireland and the UK over the last number of years to informants providing information on anyone evading tax.  These... Read more

Employers – avoid tax penalties for those late returns

3rd May 2012

Employers in Northern Ireland and the rest of the UK have until 19th May 2012 to submit their annual returns which provide details on employees’ tax and national insurance deductions... Read more

25000 people in NI lifted out of income tax

22nd March 2012

Approximately 25,000 people in Northern Ireland will not be required to pay income tax as a result of the announcement today by the Chancellor that the threshold for income at... Read more

Income tax changes to top rate and initial threshold

21st March 2012

Chancellor George Osborne has announced in his budget speech that the 50p top rate of income tax will be cut to 45p next year, and that the threshold of earnings... Read more

Shadow chancellor calls for tax cuts

20th February 2012

Ed Ball, the Labour shadow chancellor, has put forward his suggestions for tax cuts to stimulate the UK economy, ahead of the Budget speech to be given next month. Mr Ball... Read more

Increase income tax threshold quicker says Clegg

26th January 2012

Deputy Prime Minister Nick Clegg has told the government to raise the threshold for payment of income tax to £10,000 faster, and not to wait to 2015. The coalition government had... Read more

Cameron says 50p tax rate to be scrapped

10th January 2012

David Cameron has once again advised that the 50p income tax rate is a temporary measure, and will be scrapped. The Prime Minister was responding to an article in The... Read more

Plans to give taxpayers online access to tax records

16th November 2011

The government is proposing to give taxpayers online access to their tax records as part of their efforts to improve clarity and transparency of the tax system. Taxpayers in the Republic... Read more

Economists urge government to drop top tax rate

7th September 2011

A group of 20 well known economists have written an open letter to the Financial Times requesting the government to scrap the top 50p rate of tax in order to... Read more

High earners unaware 50pc tax is actually 66pc

23rd August 2011

Centre for Policy Studies think-tank says high earners are unaware of the actual amount of income tax they are paying each month, revealing that the top-end 50 per cent tax... Read more

Plans to cut top rate of income tax

10th August 2011

New Treasury figures have convinced David Cameron and George Osborne that a cut to the top rate of tax from 50p in the pound to 45p will not result in... Read more

UK employees among the highest taxed

14th June 2011

New research by UHY, the international accounting and consultancy network, has revealed that employees in the UK, at both the lower and higher ends of the salary spectrum, are among... Read more

HMRC hires 1000 workers to improve debt collection

13th April 2011

HM Revenue & Customs (HMRC) has received criticism of late in respect of its increasingly aggressive debt recovery tactics; in particular in response to an error they made with millions... Read more

New tax regulations to squeeze UK households

5th April 2011

New tax regulations to be introduced on Wednesday 5th April will affect approximately 750,000 adults throughout the UK, reducing household incomes by a total of £500million. The lowering of the threshold... Read more

Possible income tax and National insurance merge

24th March 2011

Chancellor George Osborne announced a consultation process to start the possible move to merge National Insurance with Income tax. The move would form just part of an overall effort to... Read more

HMRC bankruptcy of woman lacking capacity annulled

15th March 2011

The bankruptcy of Nicola Haworth after an order obtained by the HM Revenue and Customs (HMRC) has been annulled on the basis that she lacks capacity, and that the HMRC... Read more

Millions to have their tax bills written off

16th November 2010

HM Revenue & Customs (HRMC) has decided to write off the tax bills of almost two million people, with the amount of unpaid tax estimated by some at £500million, though... Read more

6million tax error letters to be sent by HMRC

7th September 2010

Six million tax payers will be receiving letters from HM Revenue & Customs to advise that they have been overpaying or underpaying tax; the errors having been revealed when a... Read more

HMRC to resolve £3billion in tax overpayments

22nd July 2010

HM Revenue & Customs (HMRC) is struggling to deal with  18 million cases of over and underpaid taxes which have combined to create an overpayment to the taxman of £3billion... Read more

How the budget effects Northern Ireland

22nd June 2010

Chancellor George Osborne's first budget speech was certainly one of the most dynamic and surprising that there has been for some time; full of spending cuts and tax increases. While the... Read more

Millions could pay too much tax this year as result of incorrect HMRC tax codes

28th January 2010

According to the Chartered Institute of Taxation, a significant proportion of the 25 million PAYE tax codes issued by HM Revenue & Customs for 2010/2011, double the amount in 2009/2010... Read more

Higher small business taxes 'could raise unemployment'

29th October 2009

The government should help small businesses to retain their staff by not hitting them with larger taxes, an organisation suggests.Research published by the Federation of Small Businesses (FSB) and conducted... Read more

Businesses increasingly looking for income tax payment extension

13th February 2009

Solicitors in Northern Ireland are seeing an upturn in the number of companies asking HM Revenue and Customs (HMRC) for an extension on the paying of income tax and other... Read more

Tax concerns for contractors

31st July 2008

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... Read more

Britons 'should claim all tax credits'

21st May 2008

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... Read more

'Simplification in tax forms needed'

16th May 2008

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... Read more

Tax break leaves 'no room for manoeuvre'

14th May 2008

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... Read more

10p tax compensation plan announced

14th May 2008

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... Read more

Consumers 'seeking more financial advice'

12th May 2008

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... Read more

'Most successful companies being driven abroad'

6th May 2008

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... Read more

Income shifting 'again under attack'

30th April 2008

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... Read more

Pension values 'could fall'

30th April 2008

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... Read more

Increased income tax for highest earners 'would not help poor'

24th April 2008

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... Read more

UK income tax changes 'unreasonable'

7th April 2008

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... Read more

Tax rules can be explained by solicitors in Northern Ireland

3rd April 2008

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... Read more

Government to produce Taxpayers' Charter

11th January 2008

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... Read more

Armagh tax-dodgers fined millions

26th October 2007

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... Read more

100,000 offshore tax accounts targeted

10th August 2007

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... Read more

Accountants face greater regulation

30th July 2007

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... Read more

HMRC consults on tax payments

28th June 2007

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... Read more

Arctic case leaves HMRC cold

6th June 2007

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... Read more

NI workers most taxed in UK

29th May 2007

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... Read more

Self-Assessment: Tax 'is' taxing

11th May 2007

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... Read more

Offshore accounts due tax probe

18th April 2007

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... Read more

Brown's Budget heralds 'major tax reforms'

23rd March 2007

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... Read more

Concern over tax inspector incentives

16th March 2007

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... Read more

Income tax fraud on the increase

7th March 2007

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... Read more

Conflicting opinion over stamp duty rises

5th March 2007

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... Read more

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