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Archive | February, 2012

Should VAT repayments attract simple or compound interest?

Accountants may be amongst those who are interested to learn whether the European Union’s Court of Justice will rule in favour of taxpayers in the long running battle over the repayment of VAT.

HMRC finally admits that a smartphone really is a mobile phone

More and more accountants are using smartphones and they will be pleased to learn that HMRC has finally decided to classify them as mobile phones, five years after they were first introduced to the market.

Differing opinions over Ed Balls Budget demands

Accountants will no doubt be aware that Ed Balls, the Shadow Chancellor, recently called on George Osborne to make tax cuts in the Budget next month.

Late filing penalty notices are on the way to 850,000 taxpayers

HMRC has revealed that 850,000 people, including some accountants, will receive £100 penalty notifications this year for not filing their self-assessment income tax returns on time.

What would accountants like to see in the Budget?

Accountants may be interested to learn that Ed Balls, is calling on George Osborne to cut taxes when he delivers his budget statement next month.

Can PwC’s shadowing scheme attract more female accountants?

PwC has started a new scheme to help females who want to join the male-dominated accountancy profession.

Electricians have until 15th May to own up to tax evasion

Contractor accountants will be interested to learn that HMRC launched its Electricians Tax Safe Plan last week to enable sparkies who may have been guilty of tax evasion the chance to rectify matters in return for reduced penalties.

Potential PAYE dodging employers to pay security deposit

Accountants may want to advise their clients to get their tax and National Insurance payments in order after the news that HMRC has been given new powers to crackdown on companies that do not pass on contributions to the Revenue.

Should budding accountants go to university?

A degree should not be a prerequisite for those wishing to become accountants, according to the ICAEW.

How much did HMRC spend on its latest tax evasion case?

Despite reports to the contrary, HMRC claims it cost less than £300,000 to pursue Harry Redknapp and Milan Mandaric for suspected tax evasion.