David Cameron Paves Way for HMRC to Target PAYE and NIC Dodgers

From April 2012, HM Revenue and Customs (HMRC) will require a security from employers if they suspect National Insurance Contributions (NIC) and Pay As You Earn (PAYE) taxes will be unpaid. HMRC claims the new legislation, which includes a criminal offence for business owners that are asked to give security but fail to do so,…

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Small Business Owners Must Think Smart to Beat Inflation and VAT Increase

George Osborne on small businesses

The findings of last week’s Bank of England review suggest interest rates are likely to rise over the next 12 months which is particularly concerning for small business owners, still reeling from the recent increase in VAT. Just weeks before the economic review, a study by Aldermore bank found almost 30% of small businesses will…

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Directors are Wrong to Think They Can Avoid Taxman

The 10-year prison sentence a Yorkshire woman recently received for her part in a VAT scam described as ‘brazen and meticulous’ should be a lesson for any business owner or director who thinks they can outsmart HM Revenue and Customs. Jayne Mitchell, 40, and six others imported 7,000 new cars which passed through a chain…

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