Personal tax

Unfiled 2014 tax return penalty

Boost sharing economy with tax cuts, says IoD

Individuals should be able to earn up to £10,000 a year tax-free by sharing their time or resources, the Institute of Directors has said.

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Pension lump sum tax implications not understood

Thousands of people could be pushed into the higher rate tax bracket if they take advantage of the new pension freedoms from April 2015, research by MGM Advantage has found.

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Tax on inherited pensions abolished

The 55% tax charge on inherited pensions will be abolished from April 2015, the Chancellor George Osborne has announced.

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New personal tax statement for 24 million people

From October 2014, around 24 million people will receive a personal tax statement from HMRC detailing how their taxes were spent, the Chancellor George Osborne has announced.

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PM hints at inheritance tax change

The inheritance tax threshold should be raised above its current £325,000 limit for individuals, Prime Minister David Cameron has said.

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Residence

Residence is determined by a number of factors including how many days you spend in the UK, where you work and where you have homes. A person may be resident for tax purposes in more than one country in which case their status may be determined by tax treaties between the two countries.

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Tax evasion campaign launched

HM Revenue & Customs has unveiled an advertising campaign tackling tax evaders who hold money in offshore accounts.

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Tax return filing
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