HMRC – UK local tax authorities published recently “Income tax statistics and distributions”

Income Tax is an annual tax on an individual's income for a tax year (6 April to the 5 April the following year). It is the UK Government’s largest single source of tax revenue. For this reason UK Statistics Authority prepared a large and useful statistics based on this factor. Test.

The statistics aim to provide the taxpayers with more information on the current situation and to systematize and organize important information in one place. HMRC produce Income Tax statistics both on a liabilities and receipts basis:
Income Tax liabilities - http://www.hmrc.gov.uk/stats/income_tax/liabilities-april2011.pdf
Income Tax receipts - http://www.hmrc.gov.uk/stats/income_tax/it-stats-apr11.pdf

Liabilities are amounts of tax due on incomes arising in a given tax year, whereas receipts show amounts paid and collected in a given year. Due to lags in the payment of Income Tax, particularly that collected via Self Assessment, and other reasons, statistics on Income Tax liabilities will not match those for receipts.

If you require statistics about how much tax is actually paid and collected by HMRC in any given tax year, or information on how the tax has been collected, then you should look at statistics on Income Tax receipts.
The nature of how Income Tax is collected means it is not possible to analyse Income Tax receipts by taxpayer characteristics, for example, by taxpayer’s marginal tax rate, age or gender. However, these analyses are possible through modelling of Income Tax liabilities based on a representative sample of taxpayers using administrative data.
If you require detailed breakdowns of income taxpayer numbers and the distribution of tax liabilities across taxpayers and tax bands, then you should look at statistics on tax liabilities.
HMRC also produce detailed statistics on taxpayer incomes - http://www.hmrc.gov.uk/stats/income_distribution/menu.htm

If you are going to the USA, be careful with the tornados

From our clients in USA Dendax team just understand that cluster of tornadoes has hit the US state of Massachusetts, killing at least four people.

They left a trail of destruction across 24 towns, ripping off roofs, uprooting trees and scattering debris.
Worst hit was Springfield, the third largest city in the state, where 33 injuries were reported. A state of emergency has been declared and the National Guard has been called in.

Tornadoes are rare, but not unheard of, in the north-eastern US.

State Governor Deval Patrick said the path of damage from the first and most powerful tornado rampaged from Westfield, just west of Springfield, and extended east to the community of Douglas.

A second, slightly less powerful twister, cut a path from West Springfield to Sturbridge in the central part of the state.
The damaged area is about 90 miles (145km) west of Boston.

The storm struck after a tornado alert was issued for much of the East Coast, including Philadelphia, New York and Boston.
Dendax is here to give you advices what to do in case of tornado. Dendax team strongly suggests you to:

• In a home or building, move to a pre-designated shelter, such as a basement.
• If an underground shelter is not available, move to an interior room or hallway on the lowest floor and get under a sturdy piece of furniture.
• Stay away from windows.
• Do not try to outrun a tornado in your car; instead leave it immediately.
• If caught outside or in a vehicle, lie flat in a nearby ditch or depression.
• If you know in advance that tornado is coming prepare money, ID card, any valuables a set of clothes water and food and go into a shelter.

For more information contact the Shreveport National Weather Service at 631-3669, the Louisiana OEP at 800-256-7036, or the American Red Cross at 865-9545. find out what types of disasters could occur and how you should respond. Learn your community’s warning system and evacuation plans.

Dendax is looking for local representatives!

Dendax is looking for local representatives!

Related to the planned expansion of our activities and the constantly rising number of clients we have, Dendax is starting new project – we are searching for local representatives and franchising partners from all over the world! Dendax team will be happy to welcome everyone who wants to be our partner and represent our service in their region and also cover some simple criteria. Our representative qualification criteria are:


• Substantial familiarity with the trade area in which the representative will promote and offer the services of Dendax
• Willingness to diligently exert time and best efforts in attracting as much as possible clients to the services of Dendax
• Sound reputation, integrity and similar business values to those of Dendax
• Business and marketing skills
• Respect and concern for customers
• Partners must be supportive and directly involved in the business
• Partners must not cooperate, initiate contact or cooperation, sign contracts or other agreements with other tax refund companies, competitors of Dendax, as long as the representation agreement expire
• Entrepreneur ambitions and skills
• Commitment to protecting and enhancing the Dendax brand

Contact our marketing department to start cooperation with us, visit our website , or just call +420 226 809 111 or send request to marketing@dendax.com

You have received scam email from HMRC that you are entitled to a tax rebate? What should you do?

Local County Council from many countries all around the world said residents have informed trading standards officers they have received suspicious ‘phishing’ e-mails purporting to have come from the taxman, complete with the HM Revenue & Customs logo.

Phishing is a tactic used by Internet-based thieves to trick unsuspecting victims into revealing personal information they can then use to access the victims’ financial accounts. These criminals use the information obtained to empty the victims’ bank accounts, run up credit card charges and apply for loans or credit in the victims’ names. In this case foreigners receive an e-mail requesting they submit their application for a refund and are directed to a link where they are asked to fill in bank details.

Pay Attention:HM Revenue & Customs does not inform people of tax rebates via e-mail. HMRC requests that any suspicious e-mails are not opened but are simply forwarded to them at phishing@hmrc.gsi.gov.uk or to your tax representatives! If you receive such suspicious email please forward it to marketing@dendax.com. We are in close touch with the HMRC and will take care that you are fully protected!

Work and Travel USA 2011? Good news: Dollar rate is rising!

Latest news about US Special Forces operation in Pakistan and Osama bin Laden’s death shocked the world in the beginning of May. Spot silver prices tumbled, marking their biggest loss since late 2008, and gold fell more than $25 an ounce off a record high, extending losses on news that Al-Qaeda leader was killed in the operation in Pakistan.

While commodities like Oil, Silver and Gold have dropped in price, the US dollar is rising after the breaking news confirmed by the U.S President Barack Obama! Most of the financial analyst consider that the strengthen of the U.S. dollar is only temporary. For the long term, the policy of the U.S. central bank (Federal Reserve) still plays an important role on the U.S. dollar exchange rate movements. However the news for the rising dollar made happy a lot of foreigners and job seekers planning to visit the USA during the summer with working visas.
As we know thousands of people travel each summer to the United States in their search for better life standard, job opportunities or just overseas adventures. Most of these people are planning not only to work for living, but to be able to save money and bring them home. As most of our readers may know a work visit to the USA means a large investment, which is not affordable for most of the people. In this situation a significant part of the foreigners loan money from friends, relatives or banks. For these people the news for the rise of the dollar exchange rate is the most important information for a long time ago.

Earning and saving money is a tough task nowadays. Going to the USA is the only option for a lot of people. For this reason we encourage all our clients to fully inform themselves about all the laws and legal requirements in regards to their money.

Do you know that there is one more option to save money from your work in USA? Yes there is! The tax refund option! Registration for tax refund on www.dendax.com will refund you 100% of the paid in USA taxes! Do not miss the chance to get your money back. You can use them for investment in future trip, summer vacation, education or whatever you can think of! Just contact the Dendax team by a single visit of www.dendax.com!

The wedding of the decade?

Today is the Royal Wedding.

Events are monitored by the BBC live from 6 am GMT. About 2 billion viewers are expected to watch the event!
The interest for this event is huge - so huge that the phrase "Royal wedding" has been searched in Google for nearly half a million times a day. According to analyst sites almost 7 million news and comments have been created for the daily program of the wedding day.

However, the wedding`s disapproval is huge too - page on Facebook for wedding celebrations against King has over 3300 fans, and during the ceremony there will be anti-monarchist street party in central London.
The event will be attended by 50 heads of state.

The wedding will be guarded by 5000 policemen. British police said they had arrested three people tonight in London tried to threaten the security of the upcoming wedding. Detainees were two men - 68 and 45 years old- and one woman of 60 years old. They were arrested on suspicion of preparing a public nuisance. Police said the detainees planned to attend the wedding of William and Kate. Another 19 people were arrested yesterday in London, although no details have been announced, relating specifically to the royal wedding.

Dendax wishes you the most Blessed and Happy Easter

As everyone knows, Easter is in a few days. This means a lot to all of us, whether we are religious or not.

For those who are Christians, Easter reminds resurrection of Jesus Christ - the rebirth and new beginning for the whole world. So each year at the Easter`s Lent is renovating not only our bodies but our souls, opening our minds for peace and good.

The Easter traditions must be kept alive and to share with our families and friends. The colored eggs and Easter cake, symbolized the holiday`s spirit, but also the red egg, that Maria Magdalena gave as sign for the resurrection of Jesus before more than 2000 years.

Today the Easter spirit is still dynamic, full of life and brings families happiness and joy.

For those for whom Easter is anything but not a religious holiday, it means chocolate eggs and more time to spend with relatives and friends.

But for all of us it is time that deserves to delight our families and relatives. I hope everyone enjoys and is happy Easter and all year round.

Dendax.com team wishes you a blessed and happy Easter, lot`s of love and success. We will be back at your services the next week, in Tuesday. We will be more than happy to help you return all your money, paid as taxes abroad.

DENDAX AND SOCIAL RESPONSIBILITY

From this year Dendax join the cause to save the Earth and stop cutting down trees! For this reason we try to reduce the minimum the quantity of paper we use!
For our clients we offer a complete online procedure to apply for tax refund. No paper, no efforts, less time!
Get your refund with Dendax! Go Green Online!
Complete your registration online, save a tree!

WHAT DOES URGENT AND FAST REFUND MEAN?

Many tax companies on the market are now offering “fast tax refund”, “urgent refund”, “emergency tax refund” and other kinds of fast income tax refund. But what does this actually mean? Why does the standard procedure take between 12 and 14 weeks and how exactly do these companies refund the taxes in such a short term?

Please be aware that a fast refund received within 1 month is possible, but only for US citizens. Non-residents are not eligible for this kind of refund. So the procedure that could be done from the companies is the following:
If the status of the client is changed from non-resident to resident the client is eligible for fast refund. What's more, this action can be done without informing the clients and without the clients consent. Once the client receives the “resident” status the taxes can be refunded in the short term.
What are the negatives?

Once the status is changed to resident it is impossible to change it back. Such change is not only illegal but may also cause many problems to your clients, such as: refusal of VISA issue and Green Card application, also large penalties and in the worst case scenario prohibited entry into the USA.

When you choose to receive an urgent tax refund, reconsider as what is the true price you will be paying? If someone offer such service be sure you understand all the risks behind it!

Dendax successfully presented its services at the IAPA conference

    The success of Dendax attendance at IAPA Annual Conference

    The Work Experience Travel Market and IAPA Annual Conference is the annual B2B event for sending and receiving organizations serving all aspects of cultural exchange, work experience, work abroad, work and travel and au pairing.
Featuring sector-focused seminars and targeted trade via the business appointment workshop, the event delivers a cost-effective opportunity for the global cultural exchange community to meet, network, learn, and do business.

   This year was the first participation of Dendax in this event. The WETM conference took place in Crown Plaza in Brussels - the capital of Belgium and the administrative center of the European Union, which has also earned the city the title of the Capital of Europe. Brussels has been given its character by the coexistence of French and Flemish culture, and it is nowadays home to nationalities around the world, adding a cosmopolitan flavor to its atmosphere.

The Conference

Brussels

   The 3 days spent in the heart of Europe, meeting the participants at the conference, make the Dendax team believe that networking is the best way to find new partners, we have learnt a lot about how people from different places in the world and different cultures make a successful business together!

   Dendax representatives, Kalin Ivanov (Marketing Director and General Manager) and Iva Petrova (Marketing Manager), were able to meet over 40 companies from all around the world. We had carefully prepared fantastic add materials and special offers for all our appointments. We believe that we successfully gathered interest from many companies and we will maintain cooperation with companies globally!

Our representatives

   Taking part in the event is not only an option to see interesting places, and meet different people, but also to become competitive, learn more about the expectations of our clients and market trends. Dendax realise that in order to offer the best service on the market, we should stay in close contact with our partners and clients and listen to them carefully!
   
   We are looking forward to the next event of this kind, where we will meet current and potential partners! A big thanks to all the people we met during the appointments and to the event organizers!

Last chance to get back taxes paid in 2007

Do not trow away your money paid as taxes in 2007

According to IRS more than a billion dollars are not claimed back for the year 2007. This is the last year everyone that has not asked for returning of his 2007 taxes will be able to do so. The period for claiming back taxes is three years and for the year 2007 the last possible date for filing documents for tax refunds is April 18th 2011.

About 1.1million people are not yet claimed their taxes for the year 2007. The average refund they can have is $650. This is below the average refund for this year but is not for missing. Consider this opportunity, especially when you can claim for this money online with a professional tax refund company, like ETS Refunds.

How can you get money for the 2007 year? Subscribing online and sending copy of your payment documents via e-mail or post, you can easy refund up to 100% of the taxes you have paid. Read all the information for tax refunds and who can apply, or just ask to get this info e-mailed to you for free.

But remember, if you decide to claim for a tax return for 2007, you'll also have to reclaim a 2008, 2009, and 2010 return in order to receive your tax refund for 2007. Doing this now, you can receive all your money at once in your bank account, effortless and totally secure.
If you are one of these 1.1 million people, still not reclaimed for they 2007 tax returns, consider that 18th April is too soon to wait any more.

If you know someone that has unclaimed taxes or if you has friends worked abroad, you can help them to get their money back. ETS Refund is stimulating you to help these friends with 50 EUR startup bonuses according to terms and conditions and additional 6 EUR for every single client who gets his tax refund with us.

Work and Travel programs: New affordable terms.

The work and travel programs are more and more affordable. The starting investment is quite bearable - the departure is about BGN2000, while the return of investment is usually 2 or 3 times.

There are new student loans, with which young people can obtain the necessary funds, and then return them at very acceptable terms: 12-month grace period, which pays only interest and repayment period for up to 8 months after receiving it. The interest rate is 10.99%.

There are some new facilitates and fast admission to students, that were last year in the U.S. They will apply only with documents. The interview for visa, however, remains. Refusals were only 7%, according to the press service of the U.S. embassy. The most frequent causes are problems with the university or doubts that the applicant will return. Reason may be insufficient knowledge of languages (the requirement is for intermediate level).

Read more useful information about how to pay less taxes abroad, how to get back your tax or just ask us your questions ETS Refunds will be glad to help you.

Biggest ever tax refund - $2.4 billion

The record $2.4 billion tax refund was officially confirmed by the Japanese court. The person that will receive the huge rebate of tax by the Japanese government is Toshiki Takei – the Director of Takefuji Corporation.

The Authorities ordered Mr Takei to pay the incredible tax of 160 billion yen ($1.92bn) for receiving shares of the company from his parents in 1999.
According to Japanese newspaper, this sum is the largest-ever tax refund for one person and is more than twice as the whole Japanese tax revenue for one year from gift taxes.

The return of tax has to be made because of proving that Mr Takei spent more days in Hong Kong, than in Japan. Proving that he had living in Hong Kong at that time and this is not only temporary residency for avoiding the tax payment, is the reason that the court state as reason for the biggest ever tax refund.

This case is indicative for the tax refunding opportunities in the world. Every case is different and ETS Refunds proceed every client’s claim for tax refund individually. We strive for the biggest possible tax refunds for our clients, hoping some day to be able to refund such enormous sum to our client.

When will HMRC finally correct the tax payment system?

The “new and modernized” tax system of HMRC is not yet professional and cost millions people problems again.

Only few months after HMRC revealed that millions of people have been paying the wrong amount of tax, due to a ‘computer error’, the system has made another huge and billions costing mistake.

According to news from the last days, HMRC failed to credit millions of employees with nearly £1.3bn; they have paid in NI (National Insurance) between 2004 and 2009. This fact will affect those people when they decide to retire. Suddenly they will be prevented from claiming a full state pension.
This “error” is coming after the fact that 10 million people have to receive tax refunds by the HMRC, because of errors in the tax system.
Tax refunds have to be done to more than 10 million people, because of system errors in the tax proceeding in HMRC tax code system, last September.

It was confirmed already by the officials, that 4.3 million people are due receive a rebate of their taxes, overpaid in the last two years. There is a huge possibility that over 5.8million people to have overpaid their income taxes before March 2008 too, so they will expect tax refunds as well. But this was not yet confirmed by the officials.

Daily telegraph announced in the past months, that almost £5bn is the sum of the overpaid taxes. Only for the past two years the sum is £1.8bn. The cases of overpayment before March 2008 are about 18.2 millions. And this is only from code errors in the tax system. Is those people right to ask- when the system will no more make such mistakes?

According to Daily Telegraph some of these payments are set to happen in the next four years. The Treasury has notified the affected near 6 millions of people, paid the wrong taxes in the past two years. There is high possibility to be discovered other 7.7million people with errors in the tax payments.

HM Revenue and Customs (HMRC) computer system was upgraded recently, and exactly the new system identified the errors in the PAYE (pay as you earn) tax system. The wrong calculations of the old tax system cost an average £1,400 for nearly 1.4 million people. These people will retrieve the money next year. Millions of employers underpaid taxes in the past two years at a total amount of £2bn.
Identified by the “upgraded” system will be also employees, which have been moved jobs or accepted cash benefits or company cars from their employers.

4.3 millions of people are set to receive a tax refunds, because they have paid too much taxes in the past two years. These people are expected to receive an average tax refund of £418.

If you wonder do you have wrong payments in the past years, you can try to find out in the complicated system of HMRC, or to contact professional international tax refunding company and ask for advise and help. ETS Tax Refunds is at your services.

There is no perfect systems, but when someone`s paying his taxes he expects not to pay wrong taxes, just for computer errors.