Wrong tax – around 5 million people have either paid too much or too little tax, it has been revealed.
Approximately 3.5 million people will be notified they have overpaid their tax, with the average rebate being £379.
On top
Tax helpline – around a quarter of all taxpayers calls to HMRC help lines go answered, with no guidelines being in place to advise callers how long they may have to wait.
Exchequer secretary David Gauke said that HMRC did
UK Recession has returned after the economy shrunk by 0.2 percent in the first three months of 2012.
The Office for National Statistics (ONS) said the contraction was caused by a sharp fall in construction output.
BBC economics editor Stephanie
The surprise increase in inflation last month prompted some speculation that the Bank of England might raise interest rates as a way of curbing inflation.
But the bulk of thought is that there will be insufficient improvement in the UK
The degree of tax avoidance by the super rich has been revealed after figures released by the Treasury.
The findings show that nearly 1,000 British taxpayers who earn over £1 million per year are paying less than 30 percent of
New tax year – The beginning of the new tax year tomorrow will see significant changes to both tax and benefits in time in time for the beginning of the 2012/13 tax year.
One of the main changes will be
UK employment – The British job market has received a boost after a survey suggested that more firms were looking to hire people than let them go.
Recruitment firm Manpower, who conducted the research, said the survey’s findings showed that
Tax Amnesty – Advisors Favour General Tax Amnesty. A survey of nearly 100 accountancy firms has discovered that almost 80 percent of tax advisors favour a general disclosure facility for people to declare unpaid tax from the past.
HMRC has
Tax on State Pensions – More than five million retired people could save up to £1000 per year if Chancellor George Osborne takes the advice of the Office for Tax Simplification (OTS) and scraps income tax on state pensions.
The
HMRC settlements – In the midst of public feeling that HMRC has had too cosy a relationship with large companies in relation to their tax settlements, new rules will be implemented in an attempt to make their dealings more transparent.