In This Edition:

  • 50% tax rate on the way out?
  • The Bribery Act comes into effect
  • HMRC leaps into action
  • What goes up must come down
  • Paying tax up front?
  • The waiting is the hardest part
  • More letters from HMRC


50% tax rate on the way out?
The Chancellor and the Business Secretary have recently indicated that the 50% tax rate will only be temporary.
 
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The Bribery Act comes into effect
The Bribery Act 2010 came into force on 1 July, creating the new offences of offering or receiving a bribe, bribery of foreign public officials, and failing to prevent a bribe being paid on an organisation’s behalf.
 
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HMRC leaps into action
HM Revenue & Customs (HMRC) has been given substantial funding with the aim of raising an additional £7 billion each year – so unsurprisingly it has been very busy with a wide range of initiatives.
 
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What goes up must come down
Hardly anything ever stays the same in the tax world, and that is particularly true for capital allowances.
 
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Paying tax up front?
The tax authorities are turning the screw yet again on tax avoiders with a range of new measures that could affect a number of taxpayers.
 
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The waiting is the hardest part
Late payments have become a growing problem for many small businesses. A third of small and medium size enterprises (SMEs) still say that big businesses do not pay on time.
 
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More letters from HMRC
Millions of taxpayers will receive letters in the second half of this year telling them they have paid the wrong amount of tax over the 2010/11 tax year.
 
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Key Tax Dates
Tax Calender
 
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