Content
Leading article...
We can't go on like this...
General tax...
The name is Bond
Blessed are the givers
Excuses, excuses
PAYE the penalty
Silver and gold
Moving goalposts
Doctor, doctor...
Something phishy
Pension problems
Tax dot com
Unpleasant discoveries
Fair's fair (at last)
Chartered taxpayers
This year, next year
VAT...
Focus your mind
Flat rates aren't flat
Reverse the charges
Flapjack flash
Ready set ECSL
A lofty idea
Law items...
I want my lawyer
Not on my holiday
A grey area
No difference
| Sometimes a taxpayer gets in a mess, and fails to deal with an excessive demand for tax in time. Everyone agrees that the tax isn't due, but the deadline for appealing has run out. For some years HMRC have cancelled the debt using a concession called "equitable liability". Last year, it seemed for a while that they were going to scrub that and apply the full rigour of the law to everyone. After a campaign by the tax profession, there was a change of heart in the Pre-Budget Report. The power to forgive will now be put on a proper legal footing, which means HMRC will have to be reasonable in applying it. There are some conditions before the taxpayer qualifies, but the new rule will avoid people having to pay tax that shouldn't be due. Of course, it's better not to get in a mess in the first place, but it's nice to know that there is a way out if you do. |
© Bayar Hughes & Co., 2010.