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Probate Fee Proposals Could Mean Millions Pay More

Millions of people will be required to pay an increased fee when they die, if new proposals from the Ministry of Justice go ahead. The Ministry of Justice want to raise an extra £250m for the courts service and they have proposed that people should pay up to £20,000 in probate fees when they die, depending on the size of their estate.

Income Tax And National Insurance Could Be Merged

Income Tax and National Insurance could be merged into a single â??earnings taxâ??, as chancellor George Osborne has commissioned a review into the simplification of the tax system.

HMRC Allowed Access To Debtors’ Bank Accounts

Under new rules written into the summer Budget but not announced by George Osborne in his speech, HMRC are allowed to recover tax and tax credit debts directly from debtors' bank and building society accounts, including funds held in cash ISAs.

Labour Would Abolish Non-dom Tax Regulations

The Labour party has claimed that if Ed Miliband is elected as Prime Minister in the May general election, they will scrap the non-domicile rule that allows some wealthy UK residents to limit the tax paid on earnings outside of the country.

890,000 People Face £100 Fine From HMRC

HM Revenue and Customs has claimed that up to 890,000 people will face an £100 fine for not filing their tax returns on time, after they missed their deadline on the 31st January.

HMRC Tax Avoidance Crackdown Increases Payments By 60%

The HMRC has increased tax income from the mass affluent by 60% after increasing resources targeting tax avoidance. However there are still critics who believe that HMRC could be doing more to target the most wealthy 1%.

Treasury Revises Plans To Give HMRC New Tax Powers

Plans to give HM Revenue and Customs (HMRC) the power to raid people’s bank accounts for unpaid taxes have been revised, according to the Treasury. George Osborne originally announced in his 2014 Budget speech, that HMRC would be given the ability to raid the bank accounts of those who owe more than £1,000 in unpaid taxes.

MP’s Call For HMRC To Take Action Over Tax Avoiders

MP’s have criticised HM Revenue & Customs (HMRC) for not acting quickly enough when it comes to action against tax avoiders. The Public Accounts Committee believes the HMRC is taking “unacceptably slow” action, and believe they “must do more, faster”.

Taxpayers Will Now Receive Tax Breakdown Letters

From this week millions of taxpayers will start to receive details of exactly how their money is being spent by the government. The initiative was announced in 2012 by Chancellor George Osborne when the government said it wanted to start a “revolution in transparency”.

Ed Balls Outlines Mansion Tax

Shadow chancellor Ed Balls has announced that if Labour come into power in the upcoming general election he will introduce a "mansion tax", having it start at £250 for homes worth between £2 million and £3 million.

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