HMRC expect to collect £1bn more from tax evasion in latest spending review

During the June spending review the government announced as part of its cuts that HMRC is expected to save £1bn in departmental and administrative costs for 2015-16. However, it is expected to increase its targets for revenues from tax evasion … Continue reading

Get written confirmation of your NI number by email

HMRC has introduced an online version of form CA5403 so individuals can now email to ask for written confirmation of their own National Insurance number. This will be useful where the person has lost or can’t remember their NI number … Continue reading

Planning a large extension? Be careful, the cost may go up from April

Have you heard of the Community Infrastructure Levy (CIL)? No, not many people have, but it might hit you hard in the pocket if you are planning an extension. CIL is a new planning tax that has been introduced in … Continue reading

Tax avoidance loophole that cost HMRC a small fortune

Will the Jimmy Carr publicity impact on businesses adopting genuine tax planning? At the heart of recent tax avoidance cases is abuse of the ability for businesses to extend loans to their directors. The worry now is that legitimate loans … Continue reading

Letter to SW Accountants from Future Capital Partners – Media coverage of film investment schemes

Dear Darren, You will have seen or read in the media over the past few days comment on tax avoidance. We are writing because The Times today (Thursday 21 June) carries a story about Future Capital Partners (FCP) and Ingenious … Continue reading

Not all Tax Avoidance is Risky!

Delay your dividends until the intro of 45% tax rate SMEs can put dividend payments on the back burner until income tax rates for higher earners drop to 45% from April 2013. Not as sexy or high profile as the … Continue reading