Tax legislation gives the taxpayer a number of ways to challenge a HMRC enquiry including the right to challenge unreasonable demands for documents and information as well as challenge the inspector’s conclusions. However, challenging a decision can be time consuming and costly.
Key UK tax facts and figures at your fingertips for 2016/17, including personal tax and business tax rates.
A change in the law and recent challenges by HMRC have resulted in investors in tax avoidance schemes not deriving the benefit they expected and, more worryingly, facing significant tax liabilities. Read more about how we support clients who are affected by litigation arising from participation in tax avoidance schemes.
It is a worrying time for clients experiencing significant tax liabilities from investing in tax avoidance schemes, with some even facing potential insolvency.
As the 2016/17 tax year approaches, there are numerous dates that employers must be aware. Mazars’ employer solutions team can advise and assist you in meeting your compliance obligations – the 2016/17 Employers’ Tax Calendar will assist with tracking these.
The last couple of Budgets have made more tax changes to the financial plans of individuals than we have seen for many years. Those changes concerning personal pensions and dividends are the most important and for some people action should be taken before 6 April 2016.
Research & Development Tax Relief is a Revenue supported initiative designed to ensure UK businesses remain competitive in the Global economy. With 230% tax deductions available on qualifying R&D spend, this is an opportunity not to be missed.
Interest in employee ownership is thriving, with more and more businesses in the UK becoming employee owned. Employee owned businesses (EOBs) are wholly or significantly owned by their employees, either directly or indirectly.
Following the announcement at the Summer Budget, some further details are emerging about the changes to how dividends will be taxed with effect from 6 April 2016. Although there will be some winners from this change, individuals with significant dividend income will pay more income tax.
The summer budget saw yet further announcements on proposed reforms and so called simplification to pension schemes. At first glance the changes may seem rather unexciting but they do throw up some valuable opportunities that you may be able to benefit from.