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论文题目：关于英国税的课程的论文，案例形式。
Thank you for your letter of 15th December. Further to your enquiry concerning tax implications of your business. I’m writing to provide you the following accounting advices for tax year and illustrate each part to you specifically. All the workings are attached below. The structure of the main body is: Hope you and your families are all keeping well Yours Sincerely Any individual who have taxable income or gains of which HMRC is not aware, MUST notify HMRC of their chargeability to tax within six months of the end of the tax year in which the income arises. The non-disclosure of chargeability is only granted if all of the following conditions are satisfied: Clearly, none of the above conditions are satisfied. Any individual who fails to notify chargeability within the permitted six-month period will incur a penalty. Please continue to the following section.
Apart from above, a single new penalty regime relating to the submission of incorrect returns and failure to notify taxable income will be introduced as from 1 April 2009. Finance Act 2007 introduced a new penalty regime for the submission of incorrect returns for the purpose of income tax. This common regime, which takes effect for returns which are due to be filed on or after 1 April 2009, will apply if an incorrect return leads to an understatement of the amount of tax due and the inaccuracy was either careless or deliberate. Finance Act 2008 extends the penalty regime administered by HMRC so that it now applies to a failure to notify a taxable activity. The amount of any penalty under the new regime will depend upon the ‘degree of culpability’ of the taxpayer. If tax or NICs are unpaid as a result, nor where the taxpayer has a reasonable excuse for the failure, the 30%, 70% and 100% penalties described below will apply. (a) An inaccuracy in a document is ‘careless’ if it is caused by the taxpayer’s failure to take reasonable care. In this case, the penalty payable will be 30% of the potential lost revenue. The 30% penalty will also apply if the taxpayer fails to notify HMRC of an under-assessment. (b) An inaccuracy is ‘deliberate but not conceal’ if it is made deliberately but the taxpayer does not make arrangements to conceal it. In this case, the penalty payable will be 70% of the potential loss revenue. These penalties are usually fixed in amount but the law often specifies only the maximum amount of a penalty and HMRC has the power to reduce the amount charged if it sees fit to do so. Whether or not a penalty is mitigated will usually depend mainly upon the seriousness of your offence and the degree to which you has co-operated with HMRC. For example, there will be greater reductions if the disclosure is ‘unprompted’ than it is ‘prompted’. A disclosure is unprompted if it is made at a time when the taxpayer has no reason to believe that the irregularity has been discovered or is about to be discovered by HMRC. Therefore, I would strongly advise you to offer full cooperation, by voluntarily notify tax authorities any taxable income you may have as soon as possible to maximally avoid these penalties, and move fast as a PAYE audit team from HMRC will shortly be arriving at VERSION.#p#分页标题#e# Finally, I believe the following two definitions worth your particular attention. Please bear in mind after your registration with HMRC, as a taxpayer, by providing information which is correct and complete, you are entitled to organize your financial affairs in any way you please and may do so in such a way that your tax burden is minimized. This perfectly legal activity is known as tax avoidance. This concept needs to contrast sharply with tax evasion, which is a dishonest behavior, for instance, concealing a source of income. Tax evasion is against law and was strengthened by the Finance Act 2000, which introduced a statutory offence of fraud. Anyone convicted on the ground of evading income tax may be sentenced to up to six months in prison and may be fined up to £5,000. The penalties are increased to a maximum of seven years in prison and/or unlimited fine in a higher court. It is of vital importance for you to be aware that your transactions history involves trace of money laundering practice, meaning you are suspected of engaging in financial activities which generates an asset or a value as the result of an illegal act, which involve actions such as tax evasion or false accounting, in order to conceal the identify, source and destination of money. Nowadays, the illegal activity of money laundering is recognized as potentially practiced by small and medium businesses, and even individuals through a complex network of shell companies based in various location. A wide range of financial activities and business practice is covered by section 327 to 340 of the Proceeds of Crime Act 2002 and all of the Money Laundering Regulations 2003 and 2007. In the UK, money laundering need not involve ‘money’ and ‘laundering’ either. There is no lower limit to what has to be reported – a suspicious transaction involving as small as £10 may be subject to be reported. UK money laundering legislation dictates concealing offence as ‘disguising, removing or transferring proceeds of criminal conduct for the purpose of avoiding prosecution’. The penalty for commission of an offence under this section is imprisonment of up to six months, or a fine not exceeding the statutory maximum, or both, on summery conviction. The penalty may be raised to imprisonment of up to 14 years, or a fine, or both in higher court. The UK legislation has also created a money laundering offence where a person ‘becomes concerned in, an arrangement which facilitates the acquisition, retention, use, or control of criminal property by another person.’ This means, all persons loosely related to the business, especially lawyer and professional advisers, are technically required to report and obtain consent for their own involvement in crime and such suspicious activities. In other words, as accountants of your business, both Reg and I are responsible to report any transactions which we suspect may possess criminally property of any kind. Failure to comply with this legal obligation may result in the same penalty as for concealing proceeds offences set above.#p#分页标题#e# It is therefore in your best interest to conduct a money laundering compliance review as soon as you can so as to continually ensure your business is implementing, if there is any, the correct anti-money laundering procedures to comply with the 2007 Money Laundering Regulations. Your internal review will need to make sure the adherence to above regulations and adequate trainings have been provided for relevant staff. All written records, business invoices and identification of clients have been scrutinized to ensure they are appropriate and being followed. Whilst you will need to assess the process used in ‘confectionery’, it is vital to make immediate and regular report to SOCA (Serious Organised Crime Agency) for any suspicious transactions or business activities of this kind. Generally, your property income for tax year 2008/09 is calculated on the accruals basis in accordance with UK GAAP. Taking into account that cottage was only available for renting the rest of the year for 12 weeks at £600 a week, gross income is calculated as £600*12. Expenditure which is incurred ‘wholly and exclusively for the purposes of a property business’ is deductible from property income. In this respect, advertising – the cost of providing services to tenant, and cleaner – maintenance to the property whilst property let, are allowed in full, whereas water rates & council tax – which are the legal responsibility of the occupier of premises not the owner, new crockery and minor repairs are apportioned according to the length the property is partly let. On the other hand, capital expenditure is normally not deductible when computing property income but tax relief – wear and tear allowance may be available in relation to expenditure on furniture and other equipment let to a tenant. Please note that Reg has elected for the 10% wear and tear allowance. In other words, the allowance is calculated at 10% of the rents, less any part of those rents which are deemed to reimburse Sam for expenses that are legally the tenant’s responsibility (i.e. council tax and water rates). The tenants were in occupation for 12 weeks, so 12/52 of the council tax and water rates were their responsibility. The wear and tear allowance is therefore 10% of (£7200 – 12/52*(£550 + £1100))#p#分页标题#e# 5.0 The responsibilities of employers under the PAYE system Upon my rough calculations of your staff’s annual salary presented below, which shows that each part-time staff receives £7,800 a year gross and each full-time staff receives £9,431 on average, you have to abide by law to apply PAYE to everyone in your company. Please note that one of your friends – Fleur has never done any work for your business so the £55,000 on her name must be exempted from payroll costs. So does the payment to your nanny. Under UK legislation you are not allowed to disguise any of your tax liabilities by adding up obviously irrelevant expenditure, or manipulate your accounting ledgers for tax purposes. While you are certainly entitled to withdraw cash from your own business, it must not in the name of payroll cost.
Whilst the PAYE system applies to all payments which are assessable as employment income, such as salary, wage and bonus set out above, it also covers benefits in kind, including company car, medical insurance and other benefits. In this case, the fact that the sales representative drives a car owned by VERSION both business and private mileage and Reg is paid 350p per mile for using his own car for business purposes should be accounted for when you decide to apply PAYE scheme in your company. You can use form P46 (car) to tell HMRC if you give an employee the use of a company car or if they change the car that you provide for them. Likewise, PAYE is applied to any expenses allowances that you pay to your employees, in your case, annual travel reimbursement £936 and £520, for both your full-time and part-time staff as subsistence payments. You can use form P9D and P11D to tell HMRC about all the taxable benefits or expenses your employees have received. Use form P11D for employees who earn £8,500 a year or more and form P9D for employees who are paid less than £8,500. You pay these amounts to HMRC monthly or quarterly. A tax month runs from the 6th of one month to the 5th of the next month. Therefore, employers are generally required to make a payment to HMRC on or before the 19th of each month, or by the 22nd if you make electronic payments. All employers with 50 or more employees are now required to submit their end-of-year forms to HMRC electronically. Employers like you with less than 50 employees – 36 full-time and 10 part-time staff will have to comply by May 2010, but there are tax-free incentive payments for you to start filing online earlier than this. The entire system is cumulative and requires employers to keep track of each of their employees’ gross pay and income tax paid to date in form P11. One last responsibility of you is to give each of your employees a pay slip at or before the time that you pay them. This can be in either paper or electronic format but it must show certain items, including each employee's gross pay, any deductions and the net amount payable after the deductions have been made. If you don't give your employees a detailed pay statement they are entitled to complain to an employment tribunal. At the end of each tax year you must give them a summary of their pay and deductions on form P60, which basically shows the employee’s pay and tax for the whole year. Keeping records 6.0 Penalties for getting PAYE wrong Firstly, you must keep monthly records on form P11 of the amount of PAYE you've deducted from employees' pay and forward this payment to HMRC periodically. If you don't send the correct amount, or if you send it in late, you may have to pay interest on any money owing at the end of the tax year that isn't paid by the following 19 April. On the other hand, at the end of each tax year you must submit the employers' annual return – form P35 and a yearly summary – form P14. These should be returned by 19 May after the tax-year end. If they're more than a week late, HMRC will charge a penalty of at least £100 for every month past the due date. You must also submit details of any benefits or expenses paid to directors or employees on forms P11D, P11D (b) and P9D. These should be returned by 6 July after the tax-year end. If they're late, you'll be charged a penalty of £300 with a possible additional daily penalty of £60.#p#分页标题#e# 7.0 VAT penalties Generally, a taxable person, who fails to notify HMRC of liability to register, or makes late notification, is liable to a penalty which is calculated as a percentage of the amount of tax due from you between the date on which registration should have occurred and the date on which notification is eventually made, or the date HMRC becomes aware that you are required to be registered. A percentage will then be applied to this figure to calculate your penalty. The later you register, the higher the penalty you will pay. The current percentages are 5% for a delay of up to nine months, 10% for a delay of between nine and 18 months and 15% for a longer delay. There is a minimum penalty, currently £50, for any late VAT registration. Please note that revised penalty for failing to register are expected to be introduced as from 1 April 2009. These penalties will form part of the new penalty regime relating to any failure to notify HMRC of a taxable activity, which has been very well outlined in section 2.0 above. Advices The best way to approach this with HMRC I would suggest is to register as soon as possible and explain why the delay, better to come clean it may earn you some reduction on a potential settlement and interest will continue to accrue until liability fully discharged. If your registration is over 9 months late but less than 18 months there is a 10% penalty on the VAT not declared. This will be on the VAT for the period from the date you should have registered to the date HMRC receive your notification. So the quicker you notify the less the penalty. Plus, if you notify HMRC voluntarily the penalty can be mitigated by up to 50%. You will then be issued with a VAT return covering the period from when you should have been registered to the end of your allocated VAT return stagger. Once the VAT return has been submitted you may be able to negotiate a Time to Pay agreement with HMRC. Please also bear in mind that from this point in time interest will start to be charged on the outstanding debt.#p#分页标题#e# Reference and Bibliography:
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