Are you a landlord? If so, then it is more than likely that you are either making a profit or a loss from your rented property.
Penalties on tax and VAT are amounts payable to HMRC when tax returns and VAT returns, as well as other record keeping are not submitted in time for deadlines.
Posts
The old Rangers Football Club, currently in liquidation, has won an appeal against HMRC over its use of Employee Benefit Trusts (EBT’s).
Businesses are being urged to keep all their records up to date following news that HMRC charged a large penalty to a company who had failed to notify them of a change of name.
A new fining regime, charging up to £1,600 for late filing, will be implemented by HMRC on Friday 17, 2012.
HMRC is planning to send penalty notices for late or missing monthly tax payments within the tax year as opposed to after April 19, which its current policy.
Evidence is growing that the Revenue and Customs have spent much of the last two years retraining and reworking a relatively newly established partnership.