Employers and tax and payroll professionals were invited to help the government explore options for the operational alignment of income tax and national insurance contributions, after a recent call for evidence drew more than 70 responses and suggested a ‘clear appetite’ for reform.
The PAYE ‘coding out’ limit for tax underpayments remains at £2,000 for 2010/11 tax returns, but HMRC has invited agents to contact the department to discuss the possibility of arranging coding adjustments for up to £3,000.
The Forum of Private Business welcomed the government’s announcement that from 1 April 2012 Low Value Consignment Relief (LVCR) will no longer apply to goods sent to the UK from the Channel Islands.
The Treasury Committee has assessed the suitability of Michael Jack and John Whiting for the positions of Chair and Tax Director of the Office of Tax Simplification.
A former policeman was jailed for his part in an attempted £330m VAT fraud, the largest of its kind in the UK. Nigel Cranswick and five others were caught by HMRC investigators after claiming that their new business Ideas 2 Go Ltd sold more than 6m mobile phones in eight months.
Personal online tax accounts and pre-filled tax returns could ‘transform’ people’s experience of the tax system and improve their understanding of what they pay, under proposals unveiled at a Downing Street press conference today.
‘Business is “seriously concerned” about the risk of a backlash from the handling of tax avoidance disputes, according to the CBI, as it stepped into a row over the Revenue’s dealings with big companies.