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Today (6 July) is ostensibly the filing deadline for Forms P11D / P11D(b) and it is well known that there are penalties for failure to file on time.  However, despite the penalty 'clock' starting on 7 July, no penalty will in fact be charged unless the returns are still outstanding beyond 19 July.  As per HMRC's own CWG5 Booklet Class 1A National Insurance Contributions on Benefits in Kind: "The filing deadline for the return is 6 July. If we do not receive the return ... Continue Reading

Higher Rate taxpayers who have failed to submit tax returns are being offered the opportunity to come forward and pay up under a time-limited HM Revenue & Customs (HMRC) campaign. The Tax Return Initiative, launched on 3 July, is aimed specifically at people liable to pay tax at rates of 40% and above who have been told to submit a Self Assessment tax return for 2009/10 or earlier, but have not done so. However the campaign is also available to any individual who has tax returns to submit ... Continue Reading

The Chartered Institute of Taxation (CIOT) has published a list of key points in relation to the new statutory residence test. Some of those points are: There is to be a definitive test of residence by reference to days in the UK and ties to the UK - the more ties to the UK, the fewer days can be spent here before triggering residence status.  Automatically Overseas (not resident) if have left the UK and return visits are less than 16 days for 3 years and 46 days ... Continue Reading

Peter Vaines of Squire Sanders comments on a recent "discovery assessment" case and HM Revenue & Customs' powers to request information. Introduction I suppose I ought to make some comment on the regrettably ill informed furore over the payment of taxes. I will make only a short point. I think the rule of law is rather important. Whatever view one takes of tax schemes there is something rather misguided about describing people who go to (extreme) lengths to obey the law, as "morally ... Continue Reading

The French Wealth Tax has a wider scope and longer reach than some people realise, warns Anthony Newgrosh of BKL Tax Introduction Significant changes have already been made to the French wealth tax regime this year.  This tax is an annual charge which is payable both by French residents based on their worldwide nest-egg and also by non-residents with French assets in excess of €1,300,000. It typically applies in respect of French holiday homes and shares in French companies. UK ... Continue Reading

LITRG suggests people get ahead with dealing with their tax affairs before the summer holidays arrive. Introduction The main areas to consider relate to tax for last year, keeping papers as they come in, and getting tax credits renewals out of the way well before the deadline. Topical reminders Tax, tax credits and benefits often interlink, so LITRG always recommends that people look at their overall circumstances. The following topical reminders highlight points to consider ... Continue Reading

HMRC are writing to explain to tax credits claimants whose working tax credit (WTC) payments were stopped on 6 April 2012 that they may still be entitled to WTC. Background LITRG and other organisations had urged HMRC to tell claimants that they needed to contact HMRC as soon as possible if they might come within the exceptions to the new rule and be able to have their payments reinstated. The new rule Before 6 April 2012, a couple with children qualified for WTC as long as one ... Continue Reading

Employees and pensioners have tax taken off them throughout the year via Pay As You Earn (PAYE).  LITRG provides guidance on the tax calculation (‘P800’) for 2011/12. Introduction In the last two years, LITRG’s guidance has helped thousands of taxpayers to decipher their ‘P800’ tax calculations. What to do Whether you receive a notification that you are due a refund or one that says HMRC think you have not paid enough tax, you should always check ... Continue Reading

What's the latest you can submit Forms P11D, P11D(b), etc., before a penalty is incurred? This might appear to be a simple question but appearances can be deceptive, for this question, it seems, has foxed and befuddled the finest minds at HMRC for at least the last year.  Last year, for the 2010/11 season, TaxationWeb ran this article: P11D Filing Deadline - HMRC's "Best Hidden Concession" Means More Time to File!  Has HMRC used the intervening period to get its house in ... Continue Reading

Negotiation's What You Need TaxationWeb says negotiation is an integral element of dealing with the tax authorities. There have been two 'big news' stories this week, namely HMRC To Investigate Government Contracts Paid "Off Payroll" which of course harks back to the Student Loans Company case from earlier this year, and HMRC "Big Business" Tax Deals Cleared by National Audit Office But Notes Lack of Tax Expertise; it is the second of these that I wanted to linger on. I am pleased ... Continue Reading