According to the ‘Adam Smith Institute’, today 30th May 2011 is ‘Tax Freedom Day’ - This is the first day of this calendar year that the average Briton stops working to pay taxes and actually starts earning money solely for themselves. All the money earned between the start of the year and May 29th, 149 days [...]
Wednesday, January 13, 2010
TaxPenny can help those affected by the "Tax Health Plan" announcement by HMRC. If you have had any secondary income that you have not declared fully within the last 20 years, get in touch and we can help you.
Wednesday, December 9, 2009
Alistair Darling revealed his Pre-Budget Report at 12:30 PM today. VAT will be going back to 17.5% from January 1st as expected. Small companies benefit from a deferment in the increase of corporation tax. He’s added a 10% corporation tax for income from patents in the UK and wants to charge banks 50% on any [...]
Thursday, October 29, 2009
Can you be sure as a pensioner that you have been correctly taxed? Not so, according to the National Audit Office.
Thursday, October 29, 2009
Do you need to notify the taxman if you are receiving rent on any residential property?
Saturday, May 30, 2009
TaxPenny News is a specialist UK Tax News Service provided by TaxPenny - The Online Tax Return Specialists. Visit our main site at www.taxpenny.co.uk to learn more about the services we provide. If you need help completing your tax return and would like a professional to take the burden off your shoulders, enter your details into our [...]
Wednesday, May 27, 2009
The adult rate of the National Minimum Wage (NMW) will rise to £5.80 (£5.73) an hour in October 2009. This is payable to those age 22 and over. The hourly youth development rate will increase to £4.83 (£4.77) and for 16 and 17 year olds to £3.57 (£3.53) an hour. Penalties for non compliance HMRC are able to [...]
Sunday, May 24, 2009
HMRC have won their case in the Court of Appeal as to the treatment of tips and service charges for bar and restaurant workers. The court ruled in favour of HMRC in the National Minimum Wage (NMW) legislation case relating to tips, gratuities and discretionary service charges. The case concerned Annabel’s restaurant and night club and [...]
Thursday, May 21, 2009
The ability of UK employers to allow employees to opt out from the European Working Time Directive is set to continue. This means that, where employees wish, they will still be able to work more than 48 hours a week. The European Parliament had wanted to scrap the opt out. Employment Relations Minister Pat McFadden said: “We refused [...]
Sunday, May 10, 2009
The forms P11D and where appropriate P9D, which report employees and directors benefits and expenses for the year ended 5 April 2009, are due for submission to HMRC by 6 July 2009. The process of gathering the necessary information can take some time so it is important that this process is not left to the [...]
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Monday, May 30, 2011
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