Income Tax

Chancellor hints at Inheritance tax reform

Chancellor hints at Inheritance tax reform

By Lenore Rice Chancellor Sajid Javid has sparked speculation that inheritance tax could be scrapped or otherwise reformed by saying there was "a real issue" around inheritance tax and that it... Read more

HMRC sign commercial property lease on new Belfast office

By Neil Logan HM Revenue and Customs (HMRC) has signed a new commercial property lease that will see 1,600 employees situated in the Erskine House in Belfast from 2021. Erskine House is... Read more

U-turn on self-employed NI contributions increase

Small business owners and self-employed workers have today been told that the planned increase in national insurance contributions for the self-employed announced in the budget will not go ahead. There was... Read more

Small businesses and self-employed hit hardest by the budget

An increase to the national insurance contributions (NICs) paid by the self-employed and small business owners, as well as higher taxes on dividends meant Philip Hammond's first budget made for... Read more

Poll reveals inheritance tax is the most hated tax in the UK

By Lenore Rice A survey has revealed that inheritance tax is the most hated tax among people in Northern Ireland and the rest of the UK, with 90 per cent of... Read more

End of year tax returns scrapped in favour of real-time accounts

Chancellor George Osborne announced in his Budget speech today that the government will scrap annual tax returns and replace them with a 'real-time' online accounts system that calculates tax throughout... Read more

HMRC reclaims record amount in unpaid taxes

Almost £3.65 million of unpaid tax has been recovered from taxpayers in Northern Ireland and the rest of the UK by HMRC as a direct result of avoidance schemes, evasion... Read more

Don’t file your paper Tax Return

Taxpayers in Northern Ireland and the rest of the UK who were issued with a paper self assessment Tax Return, had until 31st October 2014 to submit the return in... Read more

Cameron pledges to raise income tax thresholds

David Cameron has pledged to raise the threshold at which income tax becomes payable, and also the threshold at which an employee would be liable to pay the 40p income... Read more

HMRC to target all UK income of Expats

Expats who rent out their UK homes or receive a government pension could get their personal allowances cut as part of a proposed government plan. Currently EU nationals and British expats... Read more

Hint at tax breaks for Northern Ireland high earners

Taxpayers in Northern Ireland and the rest of the UK may be paying less income tax in the future as David Cameron has suggested some high earners might be moved... Read more

Northern Ireland tax workers to strike over redundancies

Northern Ireland employees of the HM Revenue and Customs (HMRC) are to go on strike on Friday over redundancies and office closures. The strike action has been co-ordinated across HMRC offices... Read more

Self Assessment payment deadline looms

Many individual taxpayers in Northern Ireland and the rest of the UK will have recently received a self assessment statement from HMRC. This statement will usually have a payslip attached to... Read more

HMRC issue 2013/2014 interim penalty letters in error

Some employers in Northern Ireland and the rest of the UK will have received 2013/14 interim penalty letters in error. HMRC's analysis shows that this issue affects only employers who met... Read more

Northern Ireland Taxpayers missing out on tax relief

Higher rate taxpayers in Northern Ireland and the rest of the UK who do not pay into a pension scheme are missing out on a collective £225m in tax relief... Read more

Emily Morris receives STEP NI Diploma

Pictured right - The President of the Supreme Court Lord Neuberger presents Emily Morris with her STEP NI Diploma at a STEP conference at the Stormont Hotel in Belfast with... Read more

HMRC treble use of debt collection firms

Taxpayers in Northern Ireland and the rest of the UK owing money to HMRC are finding bailiffs calling to their door more often as evidence shows that the taxman has... Read more

Investigations into NI savers' tax affairs double

Savers in Northern Ireland and the rest of the UK are now being targeted as HMRC tax investigations double. This has raised concerns that innocent mistakes on self-assessment tax... Read more

Northern Ireland tax investigations on the rise

The number of people in Northern Ireland and the rest of the UK being investigated by the taxman has doubled in one year. Recent figures show that HMRC made... Read more

NI taxpayers caught by 60pc income tax rate

Many taxpayers in Northern Ireland and the rest of the UK are paying an income tax rate of 60 per cent as a result of a little-understood policy introduced by... Read more

Completing your 2013/14 Tax Return form

Self Assessment (SA) taxpayers in Northern Ireland and the rest of the UK should now be thinking about gathering the relevant information in order to complete their 2013/14 Tax Returns. SA... Read more

Direct Recovery of tax debts from defaulters

The government is consulting on proposals to recover tax and tax credit debts from businesses and individuals in Northern Ireland and the rest of the UK that are actively refusing... Read more

Northern Ireland Taxpayers don’t understand their tax obligations

A new HMRC report reveals that Taxpayers in Northern Ireland and the rest of the UK have a limited understanding of tax and their tax obligations. It also suggest... Read more

Last chance for 2013/14 PAYE details

Employers in Northern Ireland and the rest of the UK must now use an earlier year update (EYU) if they still need to send PAYE information for 2013/14 that ought... Read more

Northern Ireland tax investigations could increase

HMRC have recently announced their latest tax campaign targeting those in Northern Ireland and the rest of the UK with second incomes. This is the latest in a long line of... Read more

Northern Ireland taxpayers can now submit their Tax Returns

As from 6th April 2014, self assessment taxpayers in Northern Ireland and the rest of the UK can submit their 2013/14 Self Assessment forms. If you send in a paper 2013/14... Read more

HMRC target Northern Ireland landlords

HMRC’s Let Property Campaign gives individual landlords in Northern Ireland and the rest of the UK who are letting out residential property in the UK or abroad the opportunity to... Read more

Concerns for Northern Ireland tax defaulters

HMRC’s powers to allow it to take money directly from the banks of tax debtors in Northern Ireland and the rest of the UK have been criticised as they may... Read more

HMRC targets NI taxpayers with undeclared second incomes

Northern Ireland taxpayers with undeclared second incomes can avoid a HMRC tax enquiry by availing of their latest scheme.HMRC has launched a second incomes campaign, giving an opportunity for individuals... Read more

Northern Ireland Rich contributing more since tax cut

A senior Tory MP says that cutting the top rate of income tax for those in Northern Ireland and the rest of the UK has massively increased the amount of... Read more

Taxpayers to get personal tax statements from October

As part of the government’s wider drive to make the tax system simple, easier to understand and more transparent, at Budget 2012 it was announced that from October 2014 approximately... Read more

Northern Ireland self employed – things you should know

As a sole trader your profits are taxed as any other income by the HMRC and as you are self-employed your tax will be self-assessed. You will need to register with... Read more

NI workers benefit from tax cuts of £2,000 since 2010

Reports suggest that David Cameron will today speak of his “pride” at having cut tax by almost £2,000 for the typical worker in Northern Ireland and the rest of the... Read more

Tax clampdown under threat as HMRC plan job cuts

George Osborne's budget promise to fund a clampdown on tax evaders in Northern Ireland and the rest of the UK appears to be under threat after a leaked memo showed... Read more

Unpaid Class 2 NIC collected from PAYE tax codes from 2014

Employees in Northern Ireland and the rest of the UK who have a class 2 NIC debt will find that their 2014/15 tax code may be amended to collect the... Read more

Transferrable tax allowance for some Northern Ireland couples

From April 2015 married couples & civil partners in Northern Ireland and the rest of the UK may be eligible for a new transferable tax allowance. The transferable tax allowance will... Read more

NI Tax avoiders to be forced to pay off bills sooner

HMRC will now demand faster payments of income tax and national insurance from people in Northern Ireland and the rest of the UK using disclosed avoidance schemes. The new rules mean... Read more

Budget 2014 to benefit Northern Ireland taxpayers

As was widely expected, the Chancellor has announced an increase in the personal tax allowance to £10,500 in 2015-16 which will benefit taxpayers in Northern Ireland and the rest of... Read more

Childcare tax break for Northern Ireland Working parents

A childcare tax break is to be expanded, with working parents in Northern Ireland and the rest of the UK set to receive more money for longer than previously planned. The... Read more

Tax cut suggested for Northern Ireland employees

Radical new proposals by the Conservative party aim to scrap the 40 per cent higher rate of income tax which could see more than two million middle-class workers in Northern... Read more

NIC savings for Northern Ireland employers for 6th April 2014

George Osborne has written to employers in Northern Ireland and the rest of the UK to make sure they know about the new £2,000 Employment Allowance which will be introduced... Read more

Tax deadline looms for Northern Ireland Health Professionals

By Gary Adair HMRC has warned health professionals in Northern Ireland & the rest of the UK that they are running out of time to bring their tax affairs up to... Read more

PM hints at tax cuts for Northern Ireland taxpayers

Reports suggest that Prime Minister David Cameron will raise hopes of tax cuts in Northern Ireland and the rest of the UK by declaring "every efficiency" found by the Government... Read more

40p tax threshold could be raised for NI taxpayers

Tories have called on the Chancellor to reward the middle classes by raising the 40p tax threshold for taxpayers in Northern Ireland and the rest of the UK so that... Read more

7pc of Northern Ireland taxpayers filed late tax returns

HM Revenue & Customs has broken down Self Assessment taxpayer by region and finds that taxpayers in Northern Ireland registered 7 per cent of late tax returns, which was the... Read more

3 per cent increase in minimum wage recommended

By Gillian Crotty The UK economy is now ready for an above inflation increase in the minimum wage according to the Low Pay Commission, who have recommended to the government that... Read more

Undeclared offshore account holders face HMRC clampdown

HMRC’s latest campaign which starts on 24th February 2014 will target offshore account holders in Northern Ireland and the rest of the UK in a new clamp-down on tax evasion. With... Read more

New digital services launched for Self Assessment taxpayers

Three new pilot digital services are to be launched by HMRC with the aim of helping taxpayers in Northern Ireland and the rest of the UK manage their tax affairs... Read more

How Northern Ireland Employers can avoid HMRC PAYE penalties

Employers in Northern Ireland and the rest of the UK will soon have to make their final PAYE submissions for 2013/14. In order to avoid payroll penalties they need to ensure... Read more

Tax Cheats in Northern Ireland and rest of UK named by HMRC

HMRC have today published the latest list of deliberate tax defaulters which include individuals and businesses from all parts of mainland UK and Northern Ireland.This policy is HMRC's latest approach... Read more

HMRC target hidden wealth

A HMRC taskforce was launched on 11th February 2014 to target hidden wealth in London & East Anglia with a further 30 taskforces planned for 2014/15 which will target other... Read more

Labour's 50p tax rate pledge criticised by big business

By Lenore Rice Senior figures at 24 of Britain's most successful companies have written an open letter attacking Labour's pledge to bring back the 50p rate of income tax if they... Read more

Kinnock calls for return of 50 pc income tax rate

By Lenore Rice Former Labour leader Lord Kinnick believes the Labour party should bring back a 50 per cent income tax rate if it is returned to government. In 2010 the Labour... Read more

MLA calls for stamp duty and income tax powers for NI Assembly

Basil McCrea, the leader of the NI21 party, has once again brought the devolution of tax powers to the Northern Ireland Assembly debate into the spotlight, as he says his... Read more

Thousands miss self-assessment child benefit deadline

By Lenore Rice Approximately 165,000 high earning parents are estimated to have missed the 5th October deadline for submission of their self-assessment form in respect of collection of Child Benefit. Parents earning... Read more

Tax deadline approaches for high earning parents

By Lenore Rice Parents who receive a salary over £50,000 and also receive Child Benefit must complete an income tax self assessment return by 5th October to avoid penalties. The High Income... Read more

Gov to publish marriage tax break proposal

David Cameron has announced that proposals for a marriage tax break will be published shortly, and it is believed that details will be given to Parliament by the time of... Read more

Wozniak calls for companies to be taxed on income

At a conference in Londonderry, Northern Ireland, Apple co-founder Steve Wozniak called for companies to be taxed on their income instead of profit to bring them into line with the... Read more

HMRC targets tax evasion in NI restaurant trade

Her Majesty's Revenue and Customs (HMRC) has set up a special task-force to target tax evasion in the Northern Ireland restaurant trade. A significant sum of money has been made available... Read more

Tax fraud prosecutions double as HMRC gets tough

The aggressive approach taken by the HMRC to tax evasion and tax fraud over the past couple of years has seemingly paid off, as prosecutions relating to tax fraud are... Read more

How the 2013 budget benefits Northern Ireland

Now that Chancellor George Osborne has delivered the government's 2013 Budget the analysis and commentary on who wins and who loses begins. In Northern Ireland in particular, quite a large... Read more

2013 Budget tax announcements at a glance

Chancellor George Osborne has today delivered the 2013 Budget. Here are some of the key points in respect of tax: Income Tax From April 2013 the personal allowance will increase to £9,440 By... Read more

First list of tax dodgers published by HMRC

The HM Revenue and Customs (HMRC) has published a list of 'deliberate tax defaulters' for the first time, in a week when there has been talk of adopting a name... Read more

'Labour gov would bring back 10p tax rate'

Ed Miliband has announced that if Labour are returned to government they will bring back the 10p starting rate of tax. It was actually the Labour party, led by Gordon Brown,... Read more

Proposed simplification of tax for pensioners

The Office of Tax Simplification (OTS) has recommended changes to the tax system in respect of pensioners, including a rethink on allowances and savings incentives. The OTS have suggested the introduction... Read more

Self-assessment tax return deadline looms

The deadline for the submission of online self-assessment tax returns is approaching, with taxpayers failing to meet the 31st January deadline to receive a £100 fine, even if they do... Read more

HMRC tells employers to prepare for PAYE changes

Employers in Northern Ireland are being advised not to leave it too late to make the necessary changes in order to be able to comply with new Pay As You... Read more

New Years resolutions more finance orientated

The past couple of years have seen a change to the most popular New Years resolutions made by people in Northern Ireland and the rest of the UK. While dieting, exercise... Read more

HMRC warns late self-assessment tax filers

The 300,000 people who failed to meet the deadline for filing their self-assessment tax return, and continue to ignore letters from the HMRC, have been warned that it could reach... Read more

Chancellor's Autumn statement: Tax summary

Chancellor George Osborne announced the government view on the UK economy and its future plans in his Autumn Statement today. In particular, there were a number of tax changes outlined,... Read more

End of month deadline for self assessment returns

People in Northern Ireland and the rest of the UK that file paper self-assessment tax returns have just over a week to avoid large fines. Approximately 20% of self-assessment returns are... Read more

Self Assessment deadline looms for paper returns

Taxpayers in Northern Ireland and the rest of the UK are being notified by HMRC to submit their self assessment tax returns before 1st November 2012 in order to avoid... Read more

Higher rate taxpayer deadline looms

Higher rate taxpayers in Northern Ireland and the rest of the UK have until 2 October to contact HMRC to confirm they wish to take part in their Tax Return... Read more

HMRC campaign targets higher rate taxpayers

HM Revenue and Customs has written out to 7,100 taxpayers in Northern Ireland and the rest of the UK advising them to submit their tax returns or face fines and... Read more

Employers favour cut in NI contributions

A new survey has revealed that Employers would most prefer to see a cut in the rate of employer National Insurance contributions (NIC) over any other tax relief. Of those polled... Read more

Clegg proposes emergency 'wealth tax'

Deputy prime minister Nick Clegg has proposed an emergency tax on the wealthiest people living in Northern Ireland and the rest of the UK for a limited period of time. Mr... Read more

HMRC to send out 50,000 penalty letters

Half a million people who failed to submit their tax returns for 2010/11 before the deadline will receive penalty letters this week. The introduction of higher penalties in April 2011 has... Read more

Tax evasion informants payments on the rise

HMRC has paid out over £1m to tax informants in Northern Ireland and the UK over the last number of years to informants providing information on anyone evading tax.  These... Read more

Employers – avoid tax penalties for those late returns

Employers in Northern Ireland and the rest of the UK have until 19th May 2012 to submit their annual returns which provide details on employees’ tax and national insurance deductions... Read more

25000 people in NI lifted out of income tax

Approximately 25,000 people in Northern Ireland will not be required to pay income tax as a result of the announcement today by the Chancellor that the threshold for income at... Read more

Income tax changes to top rate and initial threshold

Chancellor George Osborne has announced in his budget speech that the 50p top rate of income tax will be cut to 45p next year, and that the threshold of earnings... Read more

Shadow chancellor calls for tax cuts

Ed Ball, the Labour shadow chancellor, has put forward his suggestions for tax cuts to stimulate the UK economy, ahead of the Budget speech to be given next month. Mr Ball... Read more

Increase income tax threshold quicker says Clegg

Deputy Prime Minister Nick Clegg has told the government to raise the threshold for payment of income tax to £10,000 faster, and not to wait to 2015. The coalition government had... Read more

Cameron says 50p tax rate to be scrapped

David Cameron has once again advised that the 50p income tax rate is a temporary measure, and will be scrapped. The Prime Minister was responding to an article in The... Read more

Plans to give taxpayers online access to tax records

The government is proposing to give taxpayers online access to their tax records as part of their efforts to improve clarity and transparency of the tax system. Taxpayers in the Republic... Read more

Economists urge government to drop top tax rate

A group of 20 well known economists have written an open letter to the Financial Times requesting the government to scrap the top 50p rate of tax in order to... Read more

High earners unaware 50pc tax is actually 66pc

Centre for Policy Studies think-tank says high earners are unaware of the actual amount of income tax they are paying each month, revealing that the top-end 50 per cent tax... Read more

Plans to cut top rate of income tax

New Treasury figures have convinced David Cameron and George Osborne that a cut to the top rate of tax from 50p in the pound to 45p will not result in... Read more

UK employees among the highest taxed

New research by UHY, the international accounting and consultancy network, has revealed that employees in the UK, at both the lower and higher ends of the salary spectrum, are among... Read more

HMRC hires 1000 workers to improve debt collection

HM Revenue & Customs (HMRC) has received criticism of late in respect of its increasingly aggressive debt recovery tactics; in particular in response to an error they made with millions... Read more

New tax regulations to squeeze UK households

New tax regulations to be introduced on Wednesday 5th April will affect approximately 750,000 adults throughout the UK, reducing household incomes by a total of £500million. The lowering of the threshold... Read more

Possible income tax and National insurance merge

Chancellor George Osborne announced a consultation process to start the possible move to merge National Insurance with Income tax. The move would form just part of an overall effort to... Read more

HMRC bankruptcy of woman lacking capacity annulled

The bankruptcy of Nicola Haworth after an order obtained by the HM Revenue and Customs (HMRC) has been annulled on the basis that she lacks capacity, and that the HMRC... Read more

Millions to have their tax bills written off

HM Revenue & Customs (HRMC) has decided to write off the tax bills of almost two million people, with the amount of unpaid tax estimated by some at £500million, though... Read more

6million tax error letters to be sent by HMRC

Six million tax payers will be receiving letters from HM Revenue & Customs to advise that they have been overpaying or underpaying tax; the errors having been revealed when a... Read more

HMRC to resolve £3billion in tax overpayments

HM Revenue & Customs (HMRC) is struggling to deal with  18 million cases of over and underpaid taxes which have combined to create an overpayment to the taxman of £3billion... Read more

How the budget effects Northern Ireland

Chancellor George Osborne's first budget speech was certainly one of the most dynamic and surprising that there has been for some time; full of spending cuts and tax increases. While the... Read more

Millions could pay too much tax this year as result of incorrect HMRC tax codes

According to the Chartered Institute of Taxation, a significant proportion of the 25 million PAYE tax codes issued by HM Revenue & Customs for 2010/2011, double the amount in 2009/2010... Read more

Higher small business taxes 'could raise unemployment'

The government should help small businesses to retain their staff by not hitting them with larger taxes, an organisation suggests.Research published by the Federation of Small Businesses (FSB) and conducted... Read more

Businesses increasingly looking for income tax payment extension

Solicitors in Northern Ireland are seeing an upturn in the number of companies asking HM Revenue and Customs (HMRC) for an extension on the paying of income tax and other... Read more

Tax concerns for contractors

Contractors who are employed by public sector organisations could be hit with tougher income tax obligations under the terms of a new set of government proposals. At present, contractors can... Read more

Britons 'should claim all tax credits'

Taxpayers in the UK should make sure that they claim all of the tax credits available to them, according to a new report.Independent financial advice promoter has called for... Read more

'Simplification in tax forms needed'

A report has claimed that self-return tax forms are too complicated and should be made simpler to complete.The Committee of Public Accounts has found that forms produced by HM Revenue... Read more

Tax break leaves 'no room for manoeuvre'

The chancellor's £600 increase in the basic tax allowance to £6,035 leaves the government no "room for manoeuvre", the Institute for Fiscal Studies (IFS) has claimed.IFS's director Robert Chote told... Read more

10p tax compensation plan announced

The chancellor has announced how the government plans to compensate lower-earners after the abolition of the ten pence tax bracket.He told the commons that he will increase the individual personal... Read more

Consumers 'seeking more financial advice'

The credit crunch has increased the number of people looking for financial advice, according to Figures released by the independent website show that the number of people asking for... Read more

'Most successful companies being driven abroad'

The government's tax policies are driving the best companies abroad to take advantage of more favourable tax rates, the Telegraph reports.Despite their previous "reputation for economic competence", the government's current... Read more

Income shifting 'again under attack'

The practice of income shifting has again come under attack by the treasury, according to ContractorCalculator.Treasury officials are in the process of revising proposals to ban the practice, where small... Read more

Pension values 'could fall'

Millions of Britons could see the value of their pension pot fall because of the changes in the income tax system.The chancellor has reduced the basic level of income tax... Read more

Increased income tax for highest earners 'would not help poor'

An increase in the income tax band paid by the nation's top earners would not provide a significant amount of money to help the poor, according to research produced by... Read more

UK income tax changes 'unreasonable'

The latest changes in the UK income tax system will penalise the lowest-paid people in Britain, according to MPs.Government regulation has scrapped the ten per cent tax band, meaning that... Read more

Tax rules can be explained by solicitors in Northern Ireland

Consumers should ensure that they are paying the right amount of tax, according to the Chartered Institute of Taxation (CIOT).John Whiting, chairman of the CIOT's management of taxes sub-committee, said... Read more

Government to produce Taxpayers' Charter

After solicitors in Belfast and Northern Ireland have seen many clients complaining that they don't understand their tax obligations and tax forms, the government has announced a new Taxpayers' Charter... Read more

Armagh tax-dodgers fined millions

There was no way that even the best solicitors in Northern Ireland could have prevented a pair of hoteliers being fined £2.2 million between them after a Belfast court heard... Read more

100,000 offshore tax accounts targeted

HM Revenue & Customs (HMRC) is going to investigate a minimum of 100,000 people in Britain and Northern Ireland who have not disclosed off-shore bank accounts.HMRC had given every taxpayer... Read more

Accountants face greater regulation

Accountancy services in Britain and Northern Ireland will face greater regulation from December 15th 2007.Companies offering accountancy, tax, audit and insolvency services will be forced to undergo monitoring for compliance... Read more

HMRC consults on tax payments

HM Customs and Revenue (HMRC) has launched a consultation on improving tax payment options and managing debt.Payments, Repayments and Debt: The Developing Programme Of Work is the title of the... Read more

Arctic case leaves HMRC cold

Solicitors will be keeping a close watch on the case of Arctic Systems v HM Revenue and Customs (HMRC), as thousands of small businesses could be billed for extra tax... Read more

NI workers most taxed in UK

The level of tax that workers in Northern Ireland pay is the highest in the whole of the UK, according to the Adam Smith Institute.People in the province pay more... Read more

Self-Assessment: Tax 'is' taxing

According to recent research, a third of taxpayers in Britain and Northern Ireland found self-assessment (SA) forms were difficult to understand and therefore complete.The Chartered Institute of Taxation (CIOT) revealed... Read more

Offshore accounts due tax probe

The Chartered Institute of Taxation (CIOT) has announced its support for new procedures to enhance clarity within the area of undisclosed income.HM Revenue & Customs (HMRC) has targeted offshore bank... Read more

Brown's Budget heralds 'major tax reforms'

Although Gordon Brown's Budget was described as 'fiscally neutral' by some and a 'con trick' by others, the chancellor defended the latest measures announced on Wednesday, saying that a massive... Read more

Concern over tax inspector incentives

Concerns have been raised over new plans that could see tax inspectors across Great Britain and Northern Ireland receive incentives for finding further taxable funds.Under proposals from HM Revenue and... Read more

Income tax fraud on the increase

New research has suggested that tax fraud is on the increase in the UK and income tax fraud is representing a major part of that problem.Solicitors in Northern Ireland and... Read more

Conflicting opinion over stamp duty rises

Almost a quarter of postcode districts in Great Britain and Northern Ireland now qualify to pay the higher three per cent stamp duty rate, which applies to properties valued above... Read more