Giving with one hand, taking away with another
Posted 28 January 2008 at 8:39AM by Ian Betteridge in Hints and tips
From trawling through the papers, we spotted a remarkable coincidence. According to The Times, the Chancellor is set to announce a change to his controversial proposals on Capital Gains Tax which may cut £200 million from the amount he is likely to collect.
Then, moving quickly over to some research by accounting firm KashFlow, we spotted that small businesses will be giving HMRC a bonus this year in the form of fines for returning their tax forms late. The amount of the bonus? £200 million.
Coincidence? Well almost certainly it is. And the important point is that simply that if you want to avoid paying over the odds, then getting your tax form in on time is vital. This is especially true for very small businesses, where the amount you end up paying in fines might prove to be a large chunk of the total payments.
So, even if you're very busy - make sure you get those forms completed in time.
Tags: bt broadband office, small business, tax
New feature: Rate this post!
Average rating: 0/5
Comments
2. At January 29, 2008 3:55 PM, SIMON wrote:
I think hmrc is a joke, pay tax fine. but pay half of next years as well that has nearly cost me my business as this year has been no where near as good as last but hey well put you return your owed on account.
So yet again we are paying out what we dont have to and can we get it back...... yes when there ready!!!!!
3. At January 29, 2008 4:12 PM, John wrote:
Just another instance of
Don't do as I do, do as I say or pay the consequences.
4. At January 30, 2008 10:23 AM, anjanesh wrote:
mmm my tax forms seem to get lost in the post on its way to HMRC ...
5. At January 31, 2008 4:33 PM, Allan wrote:
SIMON too true i know how you feel double trouble
Post a comment
As 14 days have passed, comments are now closed for this entry.
1. At January 29, 2008 12:10 PM, Ade wrote: