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Monthly Archives: April 2016

Companies to be liable for employees who facilitate tax cheating

The UK will bring forward plans to introduce a criminal offence for corporations who fail to stop their staff facilitating tax evasion, the Prime Minister has announced in a statement to the Commons, ahead of next month’s summit to tackle … Continue reading

Posted in Business

Tax credit renewals online

 HM Revenue and Customs (HMRC) is urging people to renew their tax credits claim online and early before the 31 July deadline. When claimants renew their claim, they must tell HMRC about any changes to their circumstances that they haven’t … Continue reading

Posted in Business

Business investment and the annual investment allowance

The AIA allows businesses to write off the full cost of qualifying expenditure and in recent years the amount allowed as a deduction for tax purposes has fluctuated wildly. From January 2016, the annual limit for AIA expenditure has been … Continue reading

Posted in Business

Tax on savings

From 6 April 2016, if you’re a basic rate taxpayer you’ll be able to earn up to £1,000 in savings income tax-free. Higher rate taxpayers will be able to earn up to £500. This is called the Personal Savings Allowance. … Continue reading

Posted in Business

The Panama Papers

HMRC has responded to the significant leak of information on the activities of individuals and companies that have availed themselves of the offshore advantages of using Panama as a tax haven.  We have reproduced below part of their response: Jennie … Continue reading

Posted in Business