A sub-contractor was delighted to find that HMRC’s computer had doubled up the amount of CIS tax that he had had deducted under CIS in 2009/10. This meant no further tax to pay on 31 January 2011…or so he thought.
Archived SME tax news
HM Revenue & Customs (HMRC) is intending to place a restriction on the amount of a company's assets that can be distributed as capital prior to it being struck off the Companies Register.
The WikiLeaks website has been handed information on about 2,000 offshore banking clients of the Swiss bank Julius Baer. It is unclear whether this will provide tangible evidence of tax evasion.
New measures came into effect on 1 January 2011 to strengthen and improve the Disclosure of Tax Avoidance Schemes (DOTAS) rules.
New Minimum Wage rules came into effect on 1 January 2011, making schemes where some travel expenses counted towards the National Minimum Wage (NMW) ineffective.
The leading UK professional bodies involved in taxation have issued updated guidance on how tax advisers should act in difficult situations.
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Measures previously announced in December 2010 for the 2011 Finance Bill include: