March News...

According to HMRC statistics a record number of taxpayers filed their Self Assessment tax returns online this year.

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HMRC are warning taxpayers to be vigilant as there have been several reports of scam emails offering a tax repayment. Taxpayers should not respond to any email promising a tax repayment.

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HMRC has announced that they will launch a new method of paying tax liabilities, known as Managed Payment Plans, in April 2011.

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HMRC have announced a new initiative to reduce student loan over repayments for those ex students who repay their loan through PAYE deductions.

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HMRC have updated their guidance on the issue of multiple or incorrect PAYE tax codes to some employees following the introduction of their new National Insurance and PAYE computer system.

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The Vehicle Scrappage Scheme is a voluntary scheme for motor dealers under which participating dealers give buyers a £2,000 discount off the purchase price of a new car (or certain types of small van) in exchange for scrapping their old qualifying vehicle.

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Government figures released show that the inflation rate increased to 3.5% in January 2010 from the previous month’s figure of 2.9%.

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