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Don’t Let The Taxman “Discover” Your Mistakes!

February 1st, 2006

31 January is the Groundhog Day of the Self-Assessment system for income tax and CGT. 31 January 2006 was the last possible date for: Taxpayers to submit their returns for 2004/05Taxpayers to… 

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HMRC Powers

Posted by James Bailey

Keep Your Records!

April 1st, 2006

We had a question at Tax Insider last month, asking how long the law requires you to keep your records for tax purposes. The short answer, which we gave in the Q&A section, is: Business Records –… 

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HMRC Powers

Posted by James Bailey

“The Thickness of a Prison Wall” – the difference between tax planning, tax avoidance, and tax evasion

July 1st, 2006

This article is an extract from James' new book, "Tax Secrets for Property Developers & Renovators", available from the Property Tax Portal The quotation in the title comes from the ex Chancellor of… 

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HMRC Powers

Posted by James Bailey

Tax Investigations – how penalties are calculated

August 1st, 2006

HMRC have the power to “enquire” into any tax return from a company, a partnership, or an individual. They do not have to give a reason for the enquiry. Anyone who submits a self assessment tax… 

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HMRC Powers

Posted by James Bailey

Tax Investigations – The New Penalty Regime

March 1st, 2007

When the 2007 Finance Bill is published shortly after the Budget Speech on 21 March, it is likely to contain new legislation dealing with penalties for tax offences. Draft legislation has already been… 

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HMRC Powers

Posted by James Bailey

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