Tag Archives: income tax

Institute of Economic Affairs Suggest Scrapping 20 Taxes

The London based Institute of Economic Affairs (IEA) has suggested repealing some 20 taxes in a reform of the tax laws, in an effort to simplify the system. Out would go capital gains tax, inheritance tax and council tax, among … Continue reading

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Tax Implications of Tribunal Finding Uber Employs Drivers

The London Employment Tribunal finding in a test case that Uber divers are its employees, not so-called partners or supposed contractors, has huge tax implications. As well recognising that the drivers have worker’s rights in law, eg holidays and sick … Continue reading

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Professional Bodies Pre-Approved for Tax Deduction

An updated list of professional bodies or learned societies recognised for income tax deduction has been published by HMRC. Fees or subscriptions can be reclaimed for tax if membership is either obligatory or helpful for doing ones job, but only … Continue reading

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Employment Intermediaries and Tax

Employment intermediaries are responsible for ensuring that Income Tax and National insurance (NI) is paid for the workers they supply. An employment intermediary is a business which contractually arranges for a person to work for a third person who then … Continue reading

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Top Rate of Tax to be Reduced in Budget ?

The Chancellor has claimed figures show a rise in the tax-take form top earners since he reduced the top rate of income tax from 50% down to 45%. The Shadow Chancellor claims the figures have been distorted and calls them … Continue reading

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Headline Taxes vs. Stealth Taxes

Figures from HMRC show that for the 10 years 2004-15 to 2014-15 while headline PAYE income tax receipts went up from £108.7bil to £138.9 bil there was a much bigger rise in less obvious, one-off or stealth taxes. National insurance … Continue reading

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Number of VAT Traders Back Over 2 Million

HMRC published statistics this week on the numbers of different types of tax and taxpayers. For 2014-15 the number of VAT registered traders has climbed back to over 2 million, for the first time since 2007-08 and before the recession. … Continue reading

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