HM Revenue & Customs are to issue reminders to employers who have missed the deadline for filing their employer annual returns much sooner than previously. The change will take place to avoid the accumulation of penalty charges as a result of missing the deadline. (more…)

As the launch of Real Time Information draws near, research from KPMG reveals employers are not prepared for the new system, leaving planning to the very last minute. According to KPMG, businesses should be planning the changes required to cope with the new system. Real Time Information has been introduced by HM Revenue & Customs to bring taxation into the 21st century, ensuring accuracy of tax bills as employers submit information each time an employee or pensioner is paid. However, together with the gradual introduction of pension auto enrolment, KPMG fears that a number of businesses are leaving preparations too late. (more…)

As HM Revenue & Customs continue to crack down on tax avoidance, online traders are to be tracked using web robots. HMRC data indicates that significant numbers of people are receiving income which needs to be declared to the tax man. The campaign for e-marketplace traders will include online traders being tracked by the web robots. (more…)

HM Revenue & Customs are about to introduce a new system which will provide assurance checks on all settlements over £100 million. The move follows a public outcry in which Dave Hartnett, the top tax official, was accused of arranging “sweetheart” deals with large companies like Vodafone and Goldman Sachs. Settlements of this size will, in future, be examined by an “assurance commissioner”. MRC want to provide reassurance that large corporations are treated exactly the same as individual taxpayers and smaller businesses. (more…)

Experts have warned that the introduction of the General Anti Avoidance Rule in the March Budget could cost HM Revenue & Customs a high price. As HMRC crack down on wealthy individuals like footballers and banks, they may find themselves faced with expensive legal bills as they are taken to court to prove innocence. (more…)

The Electricians Tax Safe Plan is now underway, with 50,000 electricians receiving letters from HM Revenue & Customs inviting them to settle any unpaid tax. A warning will be given by (more…)

The latest campaign to be launched by HM Revenue & Customs will concentrate on builders who are suspected of cheating the tax man. Construction workers will be invited to contact HMRC and pay (more…)

Following consultation with employers, tax advisers and other stakeholders of the Real Time Information system, HM Revenue & Customs has decided to retain the form P45. (more…)

Workers and tradesmen who receive cash in hand payments are damaging the UK economy, according to Dave Hartnett, HM Revenue & Customs boss. In an interview with the Daily Telegraph, Mr Hartnett stated that, from April 2012, there will be a crackdown on individuals and businesses asking for payments in cash to avoid payment of tax.

Following on from his statement, Hartnett advised householders to make use of the whistleblowing service launched by HMRC to inform tax inspectors of anyone they know who is accepting cash in hand. He said that anyone who takes part in tax evasion is “diddling” the UK economy, which will result in further cuts on services being made. He said:

“Tax provides the funding to run the country: hospitals, schools and (more…)