.png)
.png)
Rag trade targeted
Taskforces to tackle tax evaders in the rag trade have been launched by HMRC. They are expected to recover more than £9m by will targeting manufacturing, wholesale, retail and textile recycling in the Midlands, north Wales, and the North West.
IHT forms
HMRC have published updated forms IHT400, IHT404, IHT421, IOV2, IHT 400 notes to reflect the new reduced rate of inheritance tax, which affects estates where the date of death was on or after 6 April 2012 and 10% of the person’s estate was left to a qualifying charity. A new schedule IHT430 reduced rate of inheritance tax is also available.
ISA bulletin
The latest individual savings account (ISA) bulletin can be found on HMRC’s website. It contains an article on the October 2012 version of the ISA guidance notes and two articles on annual returns of information.
Pay up!
An advertising campaign warning tax evaders to declare all their income has been launched by HMRC. It is part of the department’s targeted approach to encourage taxpayers pay the right amount of tax at the right time. To this end, it has set up a website to help those who want to pay the correct tax.
