While Scotland’s finance secretary says that anyone purchasing a property in the country that costs less than £325,000 will benefit from a new tax scheme, the new so-called ‘mansion tax’ has been criticised by financial experts for raising the price on the most expensive properties in Scotland, it was recently reported.
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HMRC has increased the amount of tax revenue it collects considerably over the last five years, but it could have brought in even more if it hadn’t reduced the number of people working in its compliance and enforcement teams.
It will probably come as no surprise to learn that taxation rates are edging up in EU member states. Official data from the EU shows that VAT rates are increasing as are corporate and high earner’s personal income tax rates.
A new study from the CIMA and the American Institute of CPAs suggests that finance professionals are being pressurized to act unethically.
Chief Finance Officers in the UK are decidedly downbeat about the UK’s economic prospects for the remainder of this year, according to the latest global research.
Accountants have been voicing their displeasure after receiving letters from HMRC reminding them to file P35s for their clients even though this has already been done through the online system.
A BBC Panorama program aired earlier this week has fuelled the tax haven debate again.
HMRC has warned Internet traders that time is running out if they want to take advantage of the e-Markets Disclosure Facility.
Research by Marks Sattin shows that, in the last 12 months, accountants have received salary increases in excess of seven times the national average.
A recent survey has revealed that unpaid tax bills are one of the main reasons SMEs find themselves with cash flow difficulties.