HMRC’s New Penalty Regime

From 2010-2011 H.M Revenue and Customs have dramatically increased the financial penalties for late submission of self assessment returns. These penalties are in addition to the increased penalty regime introduced in April 2009. Annexed is a resume of their new powers and new penalties which do not just relate to late submissions but also to…

Understanding the annual investment allowance

When the previous government doubled the annual investment allowance (AIA) from £50,000 to £100,000, the response was widely received in positive manner. It was also a way for the former government to keep our businesses spending to apparently “stimulate growth” within the economy. However, since the coalition government gained power the “goal posts” have subsequently…