Jon Stow Consulting – Tax Solutions

It was announced last month that HMRC’s New Disclosure Opportunity deadline for those with undeclared offshore assets to come clean has been extended from 30th November 2009 to 4th January 2010. This is no doubt because rather fewer delinquent “customers” have come forward than Permanent Secretary for Tax Dave Hartnett hoped, despite the prospect of much more serious penalties for those who are caught or come forward later.HMRC has also revamped its process for receiving anonymous tip-offs concerning tax evaders, details of which are here. To be truly anonymous, one would suppose that many would baulk … Continue Reading

Not all was bad news in the Pre-Budget Report. I wrote in September about HM Revenue & Customs’ intention to abolish the practice of Equitable Liability. I said that if HMRC thought they did not have a legal basis for this discretionary power then legislation could correct this. Mr. Darling is to introduce just such a measure.I think this is a rare victory for the taxpayer and I congratulate Keith Gordon for his campaign and petition which I feel must have contributed to this change of heart.

In my business we frown upon tax evasion. It is our duty to uphold the law through helping our clients in their self assessment of their income, profits and their company accounts. We have to tread a firmer line than Joe or Jo Public, though unrepresented taxpayers may make mistakes in the Revenue’s favour as well as their own. It is my experience that they do.This week we have seen further hikes in taxation, principally through National Insurance and more obviously the return to 17.5% VAT. Personal Allowances are frozen for next year, so there will be some … Continue Reading

Sometimes we know what is going to happen but we just carry on anyway to see if we are right, even if we get nothing out of it except the satisfaction of being prescient. So it was the other night when events unfolded as expected.It began with a telephone call from the wife of a former client whom I had dug out of a big hole he had got himself into. She said she was starting a business and was worried about tax issues. Could I visit her? “The initial consultation is free isn’t it?” I already knew … Continue Reading