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Tax credits
Tax credits claimants have until 31 July to submit a new claim, which can be done via GOV.UK, as well as by post and phone. HMRC have published the top ten excuses they have been given by claimants for not renewing on time.
Finance Act
The Finance Bill received royal assent on 17 July, becoming the Finance Act 2014.
Tax credits
Tax credits claimants have until 31 July to submit a new claim, which can be done via GOV.UK, as well as by post and phone. HMRC have published the top ten excuses they have been given by claimants for not renewing on time.
Finance Act
The Finance Bill received royal assent on 17 July, becoming the Finance Act 2014.
Paper returns
HMRC have provided guidance to help advisers manage the 31 October 2014 self assessment deadline.
Reduced rate
Notice 708/6 Energy-Saving Materials has been amended to reflect that from 1 August 2013 the reduced rate no longer applies to installation of energy-saving materials in buildings used solely for a relevant charitable purpose.
Pensions
Draft guidance has been published on the transitional changes on pension flexibility that came into force on 27 March 2014.
Dual contracts
Restrictions on the Remittance Basis – Dual Contracts has been published as guidance on HMRC’s website. It covers the rules for the taxation of overseas earnings and employment income of foreign-domiciled employees claiming the remittance basis of taxation who are working inside and outside the UK.
Contracting out
Countdown to End of Contracting-Out issue 2 has been published. It discusses the changes to contracting-out due to the introduction of the new state pension in April 2016.
John Potter, tax consultant, Liverpool, writes...
I was interested to read the hilarious list of excuses published by HMRC concerning the failure by customers to renew their claims for tax credits on time.
I am acting for a lady who has three sons and who failed to claim credits to which she was fully entitled for seven years.
Her reason: “I did claim the credits for the first two years and they were an absolute godsend.
But then HMRC demanded that I repay them. How could I? The money had been spent. I was too scared to claim after that in case they put me further into debt.”
The matter is with the adjudicator. I wonder whether my client has made the HMRC list.