PM RULES OUT TAX PLEDGES BUT SAYS HE IS 'LOW-TAX' CONSERVATIVE

David Cameron has refused to rule out tax rises after the next election, but said his goal is to "give people back some of their hard earned money" as the economy improves.

But speaking last month, the chancellor George Osborne said tax rises "were not required" to achieve future borrowing targets and they could be met solely by further cuts in spending

Full story http://www.bbc.co.uk/news/uk-politics-23395146

NEWSLETTER 70

Headlines from our latest newsletter.  Please click on any of the links below for more information :

NON STATUTORY EXPENSES

HMRC have introduced an optional system of ‘simpler income tax for smaller businesses’ which takes effect from April 2013 for smaller unincorporated businesses.

GIFT AID SMALL DONATIONS SCHEME

HMRC have published detailed guidance for charities and community amateur sports clubs (CASCs) on the new Gift Aid Small Donations Scheme (GASDS).

GOVERNMENT PUBLISHES 'SUPPORTING AUTOMATIC ENROLMENT'

Under Pensions Auto Enrolment employers will have to automatically enrol eligible workers in a qualifying pension scheme and make pension contributions for those employees.

SINGLE COMPLIANCE PROCESS

HMRC have been trialling a new approach to enquiries, known as the Single Compliance Process (SCP).

TAX RETURN AMNESTY

HMRC have launched a tax return ‘amnesty’ for those individuals who have been issued with a self assessment tax return or notice to complete a tax return for any year up to 2011/12 and have not completed the return(s).

EMPLOYEE SHARE OWNERSHIP

The Department for Business, Innovation and Skills (BIS) has published some useful guidance on employee share ownership following the Nuttall review.

REAL TIME INFORMATION AND ANNUAL SCHEMES

HMRC have received a number of requests since April 2013 from employers, asking for the status of their PAYE schemes to be changed to ‘annual’ which is only an option where employees are only paid once a year.

HMRC ANNOUNCE LATEST TASKFORCES

The latest targets in HMRC’s sights are tax dodger’s involved in:

• the holiday industry in Blackpool, Lake District, North Wales, Devon
   and Cornwall
• restaurants in Yorkshire and Humber
• road hauliers in the Midlands and
• the fishing industry in Scotland.