The Inland Revenue’s Tax Catch Up Plan has started a new campaign aimed at flushing out undeclared income from self-employed tutors and coaches. If you have been working in education (schools, colleges or universities etc) on a self employed basis, you now have the opportunity to come clean with the Revenue and avoid penalties that…
Up until 13 years ago, I was working in a salon as a stylist but was anxious to branch out on my own so I decided to set up my own business, from my home. I had a bedroom in my property converted into a mini salon and fitted out with the usual items, chairs, mirrors, backwash…
With the prospect of long-term debt from university fees hanging over the heads of millions of children, new Junior ISAs are coming onto the market at just the right time for families to plan ahead. By John Housden The regulations establishing junior ISAs (JISAs in HM Revenue & Customs (HMRC) jargon) were passed at the end of \july…
If you are a company director, you may want to consider a more cost effective way of paying for your life assurance arrangements. Did you know that arranging life cover for yourself can be treated as a legitimate business arrangement and, with your company paying the premiums, there is also the potential of reducing your…
HMRC is concerned that many small businesses do not keep adequate records to support the entries on their tax returns, so they have launched a campaign to encourage better record keeping. However, more serious interventions are expected over the next year. We know from a consultation paper released in December 2010 that HMRC is planning…