Capital Gains Tax

Tax fraud prosecutions double as HMRC gets tough

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

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

Tribunal holds £10m artwork exempt from CGT

19th March 2013

The Upper Tax Tribunal has held that painting sold at £9.4million should avoid capital gains tax, after the executors for the Castle Howard estate successfully established that it should be... Read more

Calls for capital gains tax to be reduced

26th February 2013

The increase in the rate of capital gains tax (CGT) in 2010 actually lost the Treasury money, according to the Adam Smith Institute. Its report based on official figures, says that... 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

Call to name and shame tax avoiders

19th February 2013

The Commons public accounts committee is calling on the government to adopt a 'name and shame' approach to tax avoiders in Northern Ireland and the rest of the UK. Over the... 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

New Years resolution to use CGT allowance

7th January 2013

The responses to polls on New Years resolutions for 2013 show an increasing desire among people in Northern Ireland and the rest of the UK to get to grips with... 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

Inheritance tax relief could be abolished

17th December 2010

The recently created Office of Tax Simplification (OTS) has spend the last weeks picking through the hundreds of different tax reliefs and exemptions that exist under the current UK tax... Read more

Chancellor says Capital Gains Tax taper doesn't work

20th July 2010

Giving evidence to the Treasury select committee, Chancellor George Osborne says that he chose not to introduce taper relief on capital gains tax because it added an 'unnecessary degree of... Read more

Capital Gains tax changes in Budget speech

22nd June 2010

Leading up to the Budget speech today Capital Gains tax (CGT) was perhaps the most contentious issue, or certainly the matter causing most uproar as the government was expected to... Read more

Fears of elderly over capital gains tax increase

8th June 2010

Balhousie Care Group, a large residential care home provider, has warned that tens of thousands of elderly people are likely to be suffer significantly if the Government goes ahead with... Read more

Empty property in Northern Ireland 'should be taxed'

23rd May 2008

Northern Ireland finance minister Peter Robinson has proposed that extra rates should be imposed on empty properties in the province in a bid to encourage them back into use.The government... 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

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

Firm moves offshore to avoid CGT changes

17th April 2008

Drug maker Shire has announced it will move its base headquarters to Ireland for tax benefits. One of Britain's largest drug makers, Shire Pharmaceutical said that Dublin offered an "optimum"... Read more

Media mogul in tax cut plea

7th February 2008

Solicitors in Belfast and Northern Ireland will be awaiting the response to a fresh plea to cut corporation tax in the province.As solicitors will know, corporation tax currently stands at... 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

NI business delivered tax blow

18th December 2007

Solicitors in Belfast and Northern Ireland will be disappointed, if not really surprised, to learn that Sir David Varney's report does not recommend a corporation tax cut for their corporate... Read more

Tax report due today

17th December 2007

Solicitors in Belfast and Northern Ireland will be paying close attention to the release of the Varney Report today, which is set to detail the tax measures available to government... Read more

Capital gains tax changes postponed

14th December 2007

Solicitors in Britain and Northern Ireland will have to wait until the new year before discovering what the final plans on capital gains tax will be.Chancellor Alistair Darling announced in... Read more

Half of firms miss tax deadlines

5th December 2007

Solicitors in Northern Ireland will have to ensure that clients adhere to tax deadlines, after a report by the Public Accounts Committee (Pac) revealed that only 60 per cent of... Read more

PM not backtracking on NI tax

4th December 2007

Solicitors in Northern Ireland will have to continue to advise businesses over their tax obligations after the prime minister suggested the government would not change its mind with regard to... Read more

Chancellor urged over capital gains tax plans

30th November 2007

Solicitors in Northern Ireland may face having to tell small businesses that they will have to pay more capital gains tax after if Alistair Darling's proposals are made law.MP Lady... Read more

Capital gains tax blighting business

22nd October 2007

Solicitors in Northern Ireland are likely to see more entrepreneurs investing in commercial property and fewer people prepared to start up their own small businesses, if the government does not... Read more

Rev Paisley urges business tax cuts

26th September 2007

The Reverend Ian Paisley has added his voice to the growing number of people who are urging the government to cut corporation tax in Northern Ireland, according to the Belfast... Read more

Lower rates 'would be less taxing'

18th September 2007

It has been claimed that a lower rate of corporation tax in Northern Ireland would act as a catalyst for economic growth in the province, the boss of a leading... 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

NI commercial property market controlled locally

24th July 2007

Solicitors in Belfast are more likely to see clients who come from Northern Ireland for commercial property transactions, as local people are pushing out foreign investors. Northern Irish chartered surveyors... Read more

Business non-compliance could be taxing

23rd July 2007

Businesses in Britain and Northern Ireland could lose millions and face tax investigations if they do not comply with new Managed Service Companies (MSCs) legislation, Global Compliance Limited warns.With the... Read more

Businesses petition Varney over tax cut

23rd July 2007

A petition has been signed by 50 top businesspeople, demanding that Sir David Varney makes a recommendation to cut corporation tax in Northern Ireland.Sir Anthony O'Reilly, chief executive officer of... Read more

Victory for firms in tax case

20th July 2007

Many hundreds of companies in Britain and Northern Ireland will be able to claim compensation from HM Revenue & Customs after a landmark tax ruling following 12 years of litigation.The... Read more

Professor joins corporation tax cut battle

3rd July 2007

Professor Richard Barnett, vice chancellor of the University of Ulster, has spoken up in favour of slashing corporation tax in Northern Ireland. Speaking at a graduation ceremony at the university,... 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

New punishments for business tax irregularities

17th April 2007

Businesses across Britain and Northern Ireland are being warned to visit their solicitors to ensure their books are in order as new stricter penalties are being brought in for tax... Read more

Beat the 'death duty' through giving

2nd April 2007

On April 6th the new inheritance tax (IHT) nil band rate will jump to £300,000, meaning that now may be the time for some shrewd gifting.As the new rate comes... 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

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