blog header image

Posted : 14 Mar 2016 at 16:27:52
Category: News

Share this article

This should ensure that people who make errors over relatively small sums of tax do not get caught by the offence which, for now, will apply just to income tax and capital gains tax

But the Chartered Institute of Taxation (CIOT), which called for safeguards earlier this year, says its main concern on behalf of taxpayers still stands

A taxpayer may fall within the ambit of the offence without any intention or knowledge on their part

The same document states that the offence will be triggered in three ways - failing to notify HMRC of chargeability of tax; failing to file a return and filing an inaccurate return

- ContractorUK

SIMILAR NEWS

blog header image
NEWS
CONSTRUCTION GROWTH SLOWS AS COSTS “GO THROUGH THE ROOF”

The pace of construction growth slowed in August as buyers reported near record rises in input cost inflation.       The bellwether IHS Markit/CIPS UK Construction PMI Total Activ ...

blog header image
NEWS
SUBCONTRACTORS HIT OUT AT HMRC OVER SLOW VAT REPAYMENTS

Specialist contractors have hit out at HMRC over the time it takes to reclaim VAT payments following a controversial change in the tax regime earlier this year. The “domestic reverse charge&rd ...

blog header image
NEWS
LABOUR COSTS ‘BREAK RECORDS’ AS VACANCIES SOAR

Recruiters have reported “record-breaking” increases in labour costs as new data shows vacancies hitting fresh highs. Between May and July, there were 38,000 vacancies in the construction ...

blog header image
NEWS
TIMBER SHORTAGE DUE TO 'UNPRECEDENTED' POST-LOCKDOWN DEMAND

The price of timber has risen sharply with builders struggling to get supplies, as post-lockdown construction and DIY projects create huge demand. The Timber Trade Federation (TTF) said supplier ...

blog header image
NEWS
UK CONSTRUCTION FACES ‘PERFECT STORM’ AS SUPPLY SHORTAGES LOOM

UK construction is facing a “perfect storm” of growing skills and materials shortages as demand for building reaches record levels driven by home improvements, the housing market and new i ...

blog header image
NEWS
DEMAND FOR CONSTRUCTION WORKERS CLOSE TO 20 YEAR HIGH

The staff shortage in construction is continuing to bite, with 33,000 job vacancies for the period of April to June according to the latest figures from the Office for National Statistics. It is the s ...

business-directory Business Directory
smartbusinessdirectory Payroll Services Business Directory
truebusinessdirectory payroll-services Directory
payroll-services Directory