HMRC Approved Tax Dodge

Gus O’Donnell, then the Cabinet Secretary, personally signed off on a deal that authorised the head of the Student Loans Company to avoid paying thousands of pounds in tax and N.I. He concluded that Ed Lester could be paid through a complex system of company accounts that allowed him to pay tax on his £182,000 revenues of just 21% – rather than up to Fifty percent tax. The decision was also accepted by HMRC regardless of regs., introduced in 2,000, which should have stopped the tax dodge.

For expert advice on all tax matters call Michael Bell and Co on 01484 690730, Michael Bell and Co, Yorkshire Accountants.

Tax does have to be taxing

Apparently, the City diarist is irritated at how tricky HMRC has made it to file a self-assessment form. He wonders if accountancy firms have hand-picked all the bright folk within the Revenue. The CIOT has released figures that back up this feeling. Four in five folk employed advisors to help them submit their return over their web, it exposes. The number of folks hiring tax advisers for their online taxation estimates rose from 72% in 2007 to 77% in 2009, show HMRC figures for online submissions. The number is now believed to be 80%.

For expert advice on all tax matters call Michael Bell and Co on 01484 690730, Trust Yorkshire Accountants Michael Bell and Co.