Buy to let Landlords Tax Increase

The 2015 Budget included a massive blow to buy-to-let landlords in the form of huge cuts to their tax relief. Currently, landlords benefit from 40 and 45% tax relief on their mortgage interest payments. Osborne intends to reduce this to 20% by April 2020 in order to, in his own words, “level the playing field” […]

Mechanics Tax Rebate EIM50700

Explanation of Capital Allowances for Car Mechanics and Auto Technicians   The regulations covering this area are known as EIM50700 to Tax Office employees. Whilst the capital allowance rules for car mechanics and auto technicians are the same as for employees in other sectors, you may also be able to get extra tax relief under […]

Uniform Tax Rebates under EIM32485

HMRC’s rules under EIM32485 about laundering uniforms explained The Tax Office calls this rule EIM32485 and it describes when there is an entitlement to tax relief for taxpayers who wash work uniforms and protective clothing at home. Do I qualify? If your employer requires you to wear the garments, there is no laundry facilities at […]

Nurses Tax Rebates for Shoes and Tights

If you are a Nurse claiming tax relief on the cost of your shoes and tights is one of the reliefs available to you. The tax office has an agreement in place  for Nurses called EIM67200.   Who is eligible to claim? All genders and grades of nurses and midwives. This includes; healthcare workers or […]

New Budget Plan defies Magna Carta

Government putting themselves above the law Tucked away on page 94 of the Budget Red Book is a plan to give HMRC a new ‘direct recovery’ power. HMRC will be able to seize money from business and individuals’ bank accounts and cash ISAs if they ‘appear’ to owe tax – without following established legal proceedings. […]

HMRC’s ‘unanswered calls’ figure hits over 25%

Between April 2014 and March 2014 17.8 million of the calls made to HMRC got the engaged tone or were left unanswered. That works out as 27.5% of the 64.7 million calls made! That’s a lot of unanswered questions…   The reasons for calling can range from changing address details to finding out if you have […]

10 Years of troubles take their toll on HMRC

New ‘savings’ targets of £80 million may sink a department that is already fighting to keep its head above water.   Since HMRC was born as a merger between Customs and Excise and the Inland Revenue in 2005, it has weathered many a storm. But the latest government demands could prove fatal. As part of […]

Tax Crackdown gets Heavy

HMRC are planning to use another £750 million to help stop tax avoidance. The government wants to target offshore trusts and claims it will triple the number of tax evaders brought to prosecution. The wealthy with a net worth of between £10-20 million are being targeted in an effort to ensure more tax evaders face […]

Child Tax Benefit Charge

How to rebalance your household budget after the knock of the child benefit tax charge   Child benefit is available for all children under the age of 16, or until they are 20 if they enter ‘non-advanced’ education. It is worth £20.30 per week for your firstborn and £13.40 for every other offspring. That adds […]

Landlords hit in Budget

It was announced in the budget yesterday that UK landlords will have their tax relief cut on their mortgage interest payments. Being able to claim tax relief on mortgage interest payments has been a long standing relief for landlords. The proposed changes mean that the higher rate relief of 45% will be cut to 20%. […]

Thousands Sent Incorrect Tax Rebates

Disappointment for thousands of Norfolk County Council employees as their recent tax rebates have to be repaid to HMRC. The reason… a corrupted computer file, which made it appear that the entire council staff had been taxed a month more than they had worked. The council submit monthly returns to the tax office, but the March documents […]

Tax cheats – the age of the paid revenge snitch dawns!

It has always been possible to grass someone up to HMRC if you suspect, or actually know, that they are avoiding tax payments. But it isn’t common knowledge that HMRC will pay you for this information.   Obviously they would rather keep getting tip offs for free, but HMRC’s total payments for insider information rose […]

Government Gateway Crash Frustration

If you or your agent were trying to submit your tax return online recently you probably had problems when pressing submit! The Government’s online access to services point describes itself as; “…an important part of the government’s strategy of developing ‘joined up’ government, enabling people to communicate and make transactions with government from a single […]

HMRC rethink on Automatic Self Assessment

Advisers are celebrating HMRC’s new acceptance of “reasonable excuses” for late filing of self-assessment tax returns and their step away from automatic penalties. This seems to be an acknowledgement that there is a marked difference between people who are trying to avoid paying tax and those who have just missed a deadline. In their own […]

HMRC Property Raids on the Increase

It’s important to remember that a tax evader isn’t someone who is claiming back a tax rebate on overpaid tax. HMRC only want to target people who are deliberately trying to avoid paying the tax they rightfully owe.   This year’s government target for HMRC is 1,165 prosecutions for tax evasion. So it’s hardly surprising […]

Rural Fuel Cost Reduction

Government honours plans to extend rural fuel cost reductions   Those drivers living in isolated island locations have been receiving cheaper petrol and diesel since March 2012. They are charged 5p per litre less and service stations reclaim the shortfall from the government. At the start of 2015, the coalition government laid out plans to […]

ICON Tax Rebates

Just being a member of The Institute of Conservation shows your dedication to conserving our amazing cultural heritage.   As an amalgamation of several other bodies and an organisation that welcomes all conservators and supporters you represent a broad spectrum of different professionals.   Each one of you is entitled to reclaim tax relief on […]

Tax and the Minimum Wage

Government promise to taxpayers on minimum wage   Our new government has promised that no-one working a 30 hour week on a minimum wage will ever have to pay income tax.   The Queen’s Speech outlined the new legislation that will realise this aim; national minimum wage increases and the income tax free personal allowance […]

Late Tax Return Penalties

Is HMRC softening its approach to late tax returns? Or are you one of the 890,000 who were ‘a bit late’ and in receipt of a £100 fine from HMRC? Did you know that if you appeal your fine, within HMRC’s broadened parameters of a “reasonable excuse”, the fine will probably be cancelled?   The […]

Marriage Tax Allowance

How does the new marriage tax allowance work? As of 6th April, couples can register for the Conservative’s new marriage tax allowance, potentially saving each couple £212.00 per year.   But this seems to be less about the amount you can claim and more about reinforcing conservative values, with David Cameron saying the new allowance […]

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