10 million People Could Get Tax Rebate After HMRC Errors

This article was written in the Guradian today (6th September 2010). It highlights that more than 10 millian people will be due rebates due to errors with H.M. Revenue and Customs Tax code System.

The first letters to arrive advising tax payers of rebates and demands will be tommorow.

To read the article in full follow . . . → Read More: 10 million People Could Get Tax Rebate After HMRC Errors

Tax Credits – Request for Information

HMRC have powers to request information that underpin your claim for tax credits. If you fail to comply with their request you may find your tax credit payments will be suspended.

As there are no clear statutory rules about the type of records you should keep or how long they should be kept, It is likely . . . → Read More: Tax Credits – Request for Information

The 31st July Deadline

31 July 2010 is an important deadline in the self assessment calendar and also the renewal deadline for tax credits.

Below are a list of items that need to be completed by this date. 

2008/09 Self Assessment Tax Return

Outstanding returns for 2008/09 should be submitted or incur a £100 penalty. No penalty will . . . → Read More: The 31st July Deadline

Payroll Filing and Compliance 2009/10

There are three annual payroll returns and associated payments to HMRC that need to be made during the next three months for the tax year 2009-10. They are:

Due date 19 May 2010 Almost without exception the annual form P35 and associated P14s need to be filed online on or before 19 May 2010. . . . → Read More: Payroll Filing and Compliance 2009/10

HMRC Sponsor New TV Series

HMRC has sponsored a new 4-part TV series, The Business Inspector, starting tonight on Five at 8pm. The aim of the series, which is produced by the makers of ‘Ramsay’s Kitchen Nightmares’, is to raise awareness among small businesses that they need to keep good records and improve their all-round business knowledge and direction.

Online VAT Filing from Imbercal

We are pleased to announce the immediate availability of our online VAT filing software.

Today we release our VAT filing software, approved by HMRC for submitting your VAT return automatically. Available for no extra cost to Imbercal subscribers, you can now do away with the hassle of submitting your Return via paper.

Simply by . . . → Read More: Online VAT Filing from Imbercal

Taxman’s Error Could Hit Thousands of Pensioners

Following the introduction of a new computer system at HM Revenue & Customs, thousands of pensioners may have been issued with the wrong tax code.

The people that could be included, and could be paying too much or too little tax, are:

1. People who started to claim their state pension during the 2009/10 tax year. 

. . . → Read More: Taxman’s Error Could Hit Thousands of Pensioners

HMRC – Change of Bank Accounts

During 2009 HMRC changed its banking services and therefore the sort codes and account numbers changed. HMRC continued to accept payments made to the old accounts, but this will change as these old accounts will be closed.

In order to ensure that you are paying the correct account, the details of some of the . . . → Read More: HMRC – Change of Bank Accounts

Change in Pension Age

From 6 April 2010, the normal minimum pension age for registered pension schemes is increasing from 50 to 55.

From this date, payments to a member under the normal pension age are likely to be unauthorised unless:

the member has a protected pension age the normal minimum pension age does not apply because the . . . → Read More: Change in Pension Age

Are you paying too much duty?

Does your company have a duty ruling from H. M. Revenue and Customs which is more than three years old?

If so it is very possible that this ruling is not in accordance with current regulations and you could be paying too much duty. For example, you may have a ruling on the values . . . → Read More: Are you paying too much duty?