Many claimants seeking tax credits may miss out on up to £500 of their entitlements, because the Revenue (HMRC) is failing to make them aware of their full entitlements.
While backdating of tax claims is automatic for people with children, there is no automatic backdating of tax credit claims for people with no children, who were in work prior to submitting a claim – even though they are entitled to backdate for up to three months, according to the Low Incomes Tax Reform Group (LITRG).
This week’s latest statistics report from government on Child Trust Funds (CTFs) indicates that a quarter of families fail to actively open an investment fund for their children within 12 months of receiving their voucher. This has been attributed to difficulty in choosing a fund from the wide range of options available in the marketplace.
Thousands of pensioners who have overpaid tax on their savings and investments are entitled to reclaim overpayments, and have their interest paid gross in the future, according to an announcement this week by the Revenue (HMRC). Non-taxpayers, including the vast majority of pensioners receiving Pension Credit, are currently taxed on interest in their bank or building [...]
I have come back from a seminar by Invesco Perpetual, where I received information on their future investment strategy. Getting information like this direct from the Fund Managers of one of the most efficient investment companies is worth considering, and building into your investment strategy. Be aware, that when advising clients and building our Principle [...]
HM Revenue and Customs has announced an increase to 3% of the interest charge on all late payments of Inheritance Tax, effective from September 2009.
