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.
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Accountants and other drivers could soon find their motoring activities taxed in a different way if the government listens to proposals from the RAC.
A plumber from Hampshire was recently given a four-month jail sentence, suspended for 12 months, after Southampton Crown Court found him guilty of tax evasion.
If you thought the top income tax rate in the UK was high, spare a thought for the high earners in France who could shortly be facing a whopping 75% tax bill.
The government’s plans to introduce the ‘pasty tax’ continue to provoke anger in the bakery trade.
Accountants may want to be on the lookout for clients whose dealings appear to be suspect after an antique trader was found guilty of a VAT fraud.
Accountants may want to check out the HMRC website and look at the Business Tax Dashboard that was added during the Revenue’s Easter maintenance offline period.
Accountants may be interested to learn that some of HMRC’s webinars can now be accessed on demand.
Accountants may want to remind their clients that paper filing of VAT returns is now a thing of the past for virtually all businesses.
Further evidence that HMRC will not tolerate fraudsters came with the news that guilty verdicts were recently passed on a married couple that tried to steal £220,000 by using a VAT scam.