If so, then it is more than likely that you are either making a profit or a loss from your rented property.
But I’ve only got one little flat?
If you own one or more properties other than your main
Penalties on tax and VAT are amounts payable to HMRC when tax returns and VAT returns, as well as other record keeping are not submitted in time for deadlines.
Posts
The old Rangers Football Club, currently in liquidation, has won an appeal against HMRC over its use of Employee Benefit Trusts (EBT’s).
Between 20001 and 2010, the club made payments to players and staff totalling £47.65 million to players and
Businesses are being urged to keep all their records up to date following news that HMRC charged a large penalty to a company who had failed to notify them of a change of name.
This has motivated the Forum of
Tax penalties – A new fining regime, charging up to £1,600 for late filing, will be implemented by HMRC on Friday 17, 2012.
As from previous years, the penalty for missing the Self Assessment deadline is £100. Now though, there
HMRC is planning to send penalty notices for late or missing monthly tax payments within the tax year as opposed to after April 19, which its current policy.
Many people have criticized the current regime for punishing employers by not …
Evidence is growing that the Revenue and Customs have spent much of the last two years retraining and reworking the relatively newly established partnership between the tax inspectors (properly trained and usually astute individuals) and their new found but generally …