Tax News - May 2013
From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:
Making the most of Discounted Gift Trusts
Although the government’s proposals for a General Anti-Abuse Rule (GAAR) were extended to include inheritance tax (IHT), there are still opportunities available for individuals to minimise their liabilities.
Tax campaign targets sales of second homes
Tax investigators are to target people who have sold properties that are not their main homes and have not informed HM Revenue and Customs (HMRC) about any profit made.
‘Too good to be true’ pension release claims targeted
HM Revenue & Customs (HMRC) has issued a new warning on the risks involved in the early accessing or unlocking of a pension.
RTI triggers national insurance number guidance
Following the introduction of Real Time Information (RTI) reporting for PAYE, employers have been given new guidance on verifying or obtaining national insurance numbers.
Late filing penalties start adding up
More penalties are on the way in May for taxpayers who have failed to submit their 2011-12 tax return online.
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