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Archive | November, 2011

25 investigators join HMRC’s fight against tax evasion

Accountants will remember that way back in September, Danny Alexander, the chief secretary to the Treasury, announced that HMRC would be creating 100 new roles to crack down on tax evasion.

Will more accountants face a higher income tax bill?

An extra 1.4 million people, including accountants, could find themselves paying income tax at the higher rate by 2015, according to Grant Thornton.

iXBRL filing might add hours to the workload of accountants

Online accountants could find that it takes them up to eight hours longer to file corporate tax returns in iXBRL format.

HMRC to alter policy on penalty notices

Accountants in London may be interested to learn that HMRC is going to alter its policy for sending out penalty notices to employers who make late monthly payments.

HMRC warns medics to come clean about tax evasion

Accountants may be interested to learn that HMRC is giving doctors and dentists one last chance to rectify their tax affairs or face a possible criminal investigation.

Gaming firms could be in for bumper VAT refunds

Contractor accountants might be interested to learn that the European Court of Justice ruled in favour of the Rank Group in a long-running dispute over VAT.

Should we be allowed access to our income tax records?

Online accountants may be interested to learn that the government is considering allowing all taxpayers to access their tax records online.

Real-time PAYE payroll reporting will go ahead as planned

HMRC intends to stick to its timetable to introduce real-time PAYE reporting even though accountants, employers and payroll software providers have expressed concerns that the timetable is unachievable.

Finance departments increase usage of senior-level interims

Accountants may be interested to learn that a recent study by Robert Half International has discovered that nearly 40% of CFOs say their finance teams do not have enough time or resources to satisfactorily support the business.

Government extends tax breaks for British film industry

Accountants may be interested to learn that the government has extended the British film industry’s tax breaks until the end of 2015.