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Latest news

Enemy of Apathy

Today in The Herald, there was an article about general taxpayer ignorance and apathy about our glorious tax system coinciding with the inexcusable failure of HMRC to properly manage their affairs - our affairs. If you want to check out the online version of the article, it's here.

 

It made me wonder just a little if maybe I could help with reducing ignorance by publishing some practical and simple information. As far as the apathy goes, I can do nothing about that!

Do you want the Good news or the Bad news?

angels & demons

The new rules for being eligible for the Employers National Insurance holiday announced in the budget are nearly but still not ready. Thanks to some insider info, I can give you the gist of what's happening.

Taxman's sums add up to more investigations

I think I am still allowed to call "him" the taxman in today's politically correct climate. It is not a statement of fact, simply a term of endearment.

Just in case you haven't caught up with this piece of news here it is.

Most people I know pay tax. I pay tax and I'm an accountant. There is nothing morally wrong with paying tax and yet not everyone does pay tax. Apparently there is a gap between the amount of tax that is theoretically collectible and the amount that actually is collected. I'm not talking here about people taking their time in handing over the cash, I'm talking about profits and earnings that seem to be escaping the taxman's sticky fingers altogether.

We're not talking a few million or even a few hundred millions. The gap is 40 billions.

Yes that's right. £40,000,000,000 - depends of course on what you mean by a billion.

PAYE computer systems

Yesterday, Moneybox live on BBC Radio 4 reported the problems with the HMRC PAYE computer system. You can read the article here. The programme went on to discuss one aspect of policy proposed by the Conservatives which is that they would remove the PAYE burden from employers by using the BACS system. BACS is the payment system used by most people when they pay bills through their bank account.