Important Importing Information – Part II Calculating Duty and Key Considerations Regarding Importing As we noted in Part I of our series entitled Importing To UK, Important Importing Information, bringing goods into the UK from other countries involves working with various government agencies and conforming to specific regulations. Along with restrictions on certain items and Continue reading »
Important Importing Information, Part I Organizations, Regulations and Publications Related to Importing in the UK If you are a UK retailer that is considering importing goods, it will be helpful to understand the basic guidelines for customs tariffs. Over numerous years, the United Kingdom (UK) has eased these taxes to the point where many have Continue reading »
How to Complain to HMRC Most people don’t like to complain, but in some situations you have a duty to complain. How are wrongs to be corrected otherwise? So, in your dealings with HMRC, if something is not as expected or you were not treated correctly then complain. Here’s what you should do. Basis for Continue reading »
SMEs Bear the Brunt of HMRC Affluent Unit Crackdown You might be surprised to learn that HM Revenue and Customs (HMRC) recruitment of an additional 100 tax inspectors to its Affluent Unit (the team’s remit is to examine the tax affairs of those with more than 1 million in private wealth) has actually lead to Continue reading »
Self-assessment Online Tax Return, Five Self-assessment Tax Return Survival Tips Self-assessment Online Tax Return Introduction This tax year (2012) over 9 million people have submitted their tax return to the HM Revenue & Customs online website, so avoiding the automatic penalty of £100 for filing on or after 1st February 2013. The number of people Continue reading »
Starting in Business, Keeping the Right Business Records Introduction No matter where you business is based, no matter even the country, it’s vital to keep the right, updated records for your business. If you’re trading online, you may even need to keep different records for the countries in which you are trading. All businesses, no Continue reading »
A last-minute rush pushed the number of online tax returns to a new record this year, according to HM Revenue and Customs (HMRC). Some 6,907,410 taxpayers filed their self-assessment tax returns online within the legal time scale, 7 per cent more than in 2010. On the final day for online returns, 572,455 people waited until Continue reading »
HM Revenue and Customs (HMRC) is to introduce changes to the way it deals with mail items concerning tax returns. The tax authority has said that it receives millions of items of post each year in relation to enquiries into customer returns. To manage the process more efficiently in the future, HMRC intends to scan Continue reading »
UK Exports Saw the Trade Deficit Widen In December 2010 a slight fall in UK exports saw the trade deficit, the balance between exports and imports, widen. This state of affairs has prompted the UK Government to help UK firms develop and export their goods and services. The Government’s Trade and Investment White Paper includes: Continue reading »
How would you like the tax man to pay for your next car? Well, if you have your own company that may be possible as the personal cost of buying a car can be mitigated against tax if you also own a company. The costs of buying and running a car, have never been as Continue reading »
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