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Facebook Triples its UK Tax Bill
Facebook paid £15.7m in UK tax last year, tripling the amount it paid in 2016. Companies House revealed last week that Facebook’s profits for its UK office rose 6.3 per cent to £62.7m in 2017, up from 58.4m a year earlier. Due to an...
What is Tax-Free Childcare
On October 4th 2018 the Government childcare voucher scheme will close to new applicants and be replaced by tax-free childcare (TFC), which is open to parents who meet the conditions and have one or more children aged eleven or under.The previous voucher scheme...
New Tax on Foreign Home Buyers to Tackle Rough Sleeping
At the annual Conservative party conference in Birmingham, Prime Minister Theresa May has announced that foreign buyers of properties in the UK will have to pay extra tax, with the money raised going towards the rising numbers of rough sleepers.Mrs May said “It...
Bizarre Excuses for Late Accounts Filing
Recent Companies House statistics show that the number of penalties handed out for the late filing of accounts has gone up by nearly 25% since 2014 from 161,902 then to 201,634 in 2017/18. Over those four years, the cost to business has increased from...
HMRC Targets Online Retailers in Tax Crackdown
This week, Cameron announced the latest move by HMRC to battle tax avoidance and the “hidden economy”. The Revenue will be granted additional powers to access information from business intermediaries (for example, eBay and Gumtree) and...
Selling Property by Lottery
Can selling your property by lottery save on tax? There has been a wave of stories and articles recently about selling residential properties via a lottery or raffle. The aim of these schemes is to reduce or eliminate tax bills that would otherwise occur if you...
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