Tag Archives: UK Tax News

OTS expected to advise that Income Tax & NI should be merged

Following the General Election the Coalition Government set up the OTS to, among other things, overhaul the highly unpopular IR35 legislation, which requires contractors to prove that they are no de facto employees of their clients. However, it is understood the OTS will highlight in the interim report the difficulty of finding a workable alternative […]

LLPs warned to get right paperwork in place from day one

Graeme Jump, Senior Counsel at Mace & Jones Partnership said “Frighteningly, this decision was only in respect of a trial of a number of preliminary issues, but it still took nine days of High Court time. It seems quite likely that there may be further litigation. Sadly this is yet another case where business people […]

More than 2/3 of UK Businesses say VAT Increase has not affected business

The research also found that nearly 50% of firms has spent less than five hours managing the VAT increase to 20% and 29% of small business owners chose to absorb the additional 2.5% cost increase rather than pass it on to their customers. The Managing Director of Intuit UK, Pernille Bruun-Jensen, said that “It’s reassuring […]

IFS Says 750,000 People set to pay 40% Tax from April 2011 Onwards

The effects of the change are expected to see the middle classes hit the hardest with the Institute for Fiscal Studies estimating that on average households across the United Kingdom will have to pay an additional £200 in 2011 / 2012.  The changes are bad news for many households who have already seen prices increase […]

OTS says initial report will be provided in time for the 2011 Budget

John Whiting, the Tax Director for the Office of Tax Simplification, said that \”I am delighted that these events were so well received and stimulated such valuable debate amongst those attending. That is exactly what we hoped for as we seek input to help us simplify Britain\’s tax code as openly as possible. Some points […]

ACCA Hopes That HMRC Is Geared Up To Deal With Tax Queries In Light Of PAYE Error

Chas Roy Chowdhury, the ACCA’s Head of Taxation said that “HMRC’s recent announcement is worrying for many ordinary tax payers. While it is important we pay the right amount of tax at the right time, it is also important that our tax authority bills us correctly and keeps correct records. It is also important that […]