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Budget Summary 2013

Budget announcements contain many fundamental taxation changes which will affect business and personal lives for the years to come. Written in plain English, we have segmented our summary into the key areas of taxation, including business and corporate, employment, personal and capital. We have also included comments on the more important changes, together with any planning points that may arise.

Tax rates 2013/14

Many of these figures are fundamental to our business and personal lives and you will find the key taxes summarised here. We are sure that you will find it a useful point of reference throughout the coming tax year.

Tax rebate phishing scam

HMRC are warning taxpayers not to fall victim of scam emails sent by fraudsters. In 2012 taxpayers reported almost 80,000 tax rebate phishing emails and HMRC took action to close down 522 illegal sites.

Paying HMRC by Bill Pay

HMRC are aware that there are problems with the Bank of Santander’s Bill Pay service which is used by many individuals to pay their self assessment tax liabilities by credit or debit card.

Tax investigations service

HMRC are becoming increasingly aggressive in their attempts to raise additional tax revenue. Just one of the ways that HMRC try this is by targeting particular business sectors.

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