British territories sign deal on tax information
£220 million haul from wealthy taxpayers.
Changes to class 2 and class 4 NICs
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HMRC extends Business Records Checks 03/10/11
Smuggling gang jailed for Â£50m tax and VAT fraud.
HMRC is setting up a dedicated bereavement services team to deal with PAYE and Self Assessment when taxpayers die.
The main form which customers use to finalise the tax affairs of the person who has died (R27) has been redesigned following feedback from customers and tax specialists to make it easier to complete. The form now has a new section in which a personal representative (or executor/administrator) finalising the estate of someone who has died can appoint someone to act on their behalf. They can also provide details of the surviving spouse or civil partner to enable HMRC to take action to review their tax affairs.
The objective of the reforms is to offer a single point of contact when finalising the estate and to make it easier for their executors to finalise the tax situation.
Stuart Coleman, Manager of the Tax Department of ABDS says:
“The changes were introduced on 11 April 2012 and will bring with them the following benefits
If you need any help and advice on Inheritance tax, capital gains Tax, or in settling an estate, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help.
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900 E-mail: firstname.lastname@example.org
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