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Personal Tax

Taxman recovers extra £500 million from top earners

HM Revenue and Customs (HMRC) has recovered an extra £500 million in tax from those with assets in excess of £20 million in the last three years.

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Report warns aviation restrictions are hampering growth

A group of MPs and businesses have backed a report into the UK aviation industry which warns Heathrow restrictions are damaging the UK economy.

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Higher earners may boost pension savings to avoid losing child benefits

Higher rate tax payers may channel more money into their pension savings in a bid to avoid losing out on child benefit payments when new rules come into force next year.

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A quarter of higher rate taxpayers fail to use pension tax relief

One in four higher rate tax payers say they do not contribute to a pension scheme, despite the tax reliefs available, research from Prudential has found.

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Half a million late self-assessment returns in line for penalties

Half a million people who have yet to file their 2010/11 tax returns will begin to receive additional penalty letters from next week, HMRC has announced.

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HMRC speeds up its call helpline target

HMRC is to spend £34 million over the next two years to hire more staff and reach call centre targets two years earlier than planned.

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HMRC electrician's campaign nearing end

Electricians who have failed to pay the correct amount of tax have just one week to pay any tax owed and take advantage of more lenient payment terms from HMRC.

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SMEs warned about contractor tax obligations

Small and medium sized businesses (SMEs) hiring self-employed contractors are being warned about the risk of avoiding their tax obligations.

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New Universal Credit regulations could hamper self-employed

The self-employed could face difficulties accessing state benefits from next year if draft regulations regarding the new Universal Credit system go ahead, tax advisers have warned.

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£200 million worth of free shares given to workers last year

UK firms gave more than £200 million worth of free shares to employees last year, according to an annual survey by IFS.

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