The Confederation of British Industry has produced a report which reveals that large corporations are responsible for paying about a quarter of all the tax paid in the UK, in a bid to prove that large businesses pay their share of tax. According to CBI, the accusations arose as a result of people not understanding how complex the UK tax system is. (more…)

Businesses that don’t pay their PAYE income tax and National Insurance Contributions in a timely manner may have to pay a financial security to HM Revenue & Customs. New rules will be introduced from April 2012 which are aimed at businesses that don’t pay their PAYE deductions to HMRC on time. (more…)

The ‘maid tax’ which has been suggested by David Cameron has received support from the largest employer in the UK domestic cleaning industry, Molly Maid. The tax breaks for families who employ domestic staff like cleaners would boost job creation and gain extra revenue for the Treasury, according to the company. (more…)

George Osborne will be urged by the British Property Federation to introduce tax relief for owners of empty properties in the days leading to the Budget. At present, commercial property owners pay rates on empty properties, which has led to buildings being demolished and developers not being able to afford to build new space. The tax on empty properties is known as the ‘bombsite Britain tax’ for this very reason. (more…)

UK taxpayers are being warned by tax experts to seek financial advice to avoid overpaying tax during the year. According to recently released data, UK taxpayers will overpay £421 each this year, while 85 percent won’t take any preventative action to minimise their tax bill. (more…)

Deputy Prime Minister Nick Clegg is to introduce the idea of a ‘Tycoon Tax’, which will ensure that the millionaires of the UK pay their fair share of tax. The idea was discussed during an interview with The Telegraph, prior to the Liberal Democrats spring conference in Gateshead. (more…)

According to the Small Business Tax Action Report compiled by Unbiased.co.uk, Small and Medium Enterprises in the UK will spend £7.15 billion more than they need to (more…)

The Office of Tax Simplification has called for a simplified method of accounting to be devised for small businesses, helping them to deal with tax administration in a more efficient manner. (more…)

Tax receipts for January were the highest in 13 years, providing some positive news for the Chancellor who is preparing for the Budget in March 2012. (more…)

A tax expert has warned that recent changes to the Inheritance Tax rate band are likely to result in (more…)