Nichola Ross Martin's Tax Consultancy

There is some uncertainty as to the tax treatment of dividends which are paid out of newly distributable reserves as a result of a capital reduction.

Permanent Secretary, Dave Hartnett has confirmed HMRC's intention to roll out further tax disclosure facilities in the future in order to target "sensibly defined groups", as identified by its risk analysis.

The “big cheeses” of business and employers organisations have launched a petition to say "No" to the rise in National Insurance Contributions (NICs) planned for April 2011.

VAT cheque payments by post - important changes

From 1 April 2010 all cheque payments by post will be treated as being received by HM Revenue & Customs (HMRC) on the date when cleared funds reach HMRC’s bank account.

It is reported that HMRC is taking a keen interest in the tax planning schemes of some of some UK based footballers and sports stars. What is interesting is whether IR35 will apply in these cases.