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Blog: Tax News

New HMRC Campaign on second homes

Economy built on innovation

I’VE written here before about the opportunities afforded by the tax allowances introduced by HMRC on research and development, and the benefits businesses can get from investigating and utilising them. The idea of ‘R&D’ immediately brings to mind an image of clever scientists in long white lab coats, developing products and processes of the highest

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New HMRC Campaign on second homes

New HMRC Campaign On Second Homes

Residential landlords across the north east are being targeted again by the taxman, this time in a new campaign designed to recoup undeclared profits on the sale of second homes. HMRC’s new Property Sales campaign aims to claw back any unpaid capital gains tax (CGT) from people selling property that is not their main residence,

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SDS for Whos Who

Stephen Slater – Chance to get started on patents

GIVEN that the North East can point to world-class innovators such as Joseph Swan, William Armstrong and Robert Stephenson in its industrial history, and given the strength of our thriving economy, it might come as a surprise to learn that our region is home to the least number of patents of any part of the

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View our 2012 Autumn Statement summary

Chancellor George Osborne presented his 2012 Autumn Statement against a backdrop of global economic uncertainty. With the past year bearing witness to ongoing difficulties in the eurozone, the Chancellor faced something of a balancing act in his bid to encourage growth while sticking to the austerity programme. The Chancellor announced a number of significant measures

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Reduction in pensions tax relief to hit thousands of GPs

Thousands of GPs will be hit by the Chancellor’s reduction of tax relief for pensions savings, GP leaders and accountants have warned. In his autumn statement today, George Osborne announced the Government will reduce the amount of money people can save annually and in their lifetime savings before incurring tax. From 2014-15, individuals will receive

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Chancellor set to reveal Autumn Statement measures

05 Dec 2012 Chancellor George Osborne will deliver the 2012 Autumn Statement to the House of Commons today, with many economists predicting that the Office for Budget Responsibility will cut its economic growth forecasts for the UK, and that the Chancellor has failed to meet his ‘golden rules’ on the economy. However, the Chancellor is

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R chico

Get the records straight, tax expert tells landlords as HMRC launches North East Taskforce

A north east tax expert is advising local landlords to make sure their financial affairs are fully in order in advance of a tax blitz on the region’s property rental sector. HM Revenue & Customs has formed six new task forces which are aiming to collect around £23m from people working in different industries and

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Seed Enterprise Investment Scheme (SEIS)

The following guidance for companies and investors from HM Revenue & Customs is divided into four parts. HM Revenue & Customs (HMRC) recommends that you read all of the guidance, irrespective of whether you are a potential investor or a company considering using the scheme. This guidance provides an overview of SEIS. It does not

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Pension changes

Pension changes could leave GPs facing fines

Changes to pension allowances mean that GPs will need to submit new tax calculations to HMRC for the 2011/12 financial year. However it is unlikely that GPs will have access to the figures required to make these calculations in time, meaning they could face substantial financial penalties, healthcare accountants have warned. Recent changes to pension

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