Tax

Latest news

Image for conservative call emergency budget shot down

Tax | Conservative call for emergency Budget shot down

The prime minister forcefully rejected calls from Conservatives for a second Budget at PMQs in parliament when grilled by the leader of the opposition

15 Jan 2025

Tax

Budget

Politics

Image for two weeks 44m people file tax returns warns hmrc

Tax | Two weeks for 4.4m people to file tax returns, warns HMRC

Nearly a third of taxpayers have not submitted their 2023-24 tax return with the deadline of 31 January fast approaching and worries people will make mistakes on higher rate child benefit

15 Jan 2025

Tax | HMRC to hire £130k director to overhaul customer service

With customer service at an all-time low, HMRC is advertising for a director of transformation to overhaul and transform service levels at tax authority

15 Jan 2025

Tax

HMRC

Careers

Leadership & Management

Tax | Tulip Siddiq resigns from the Treasury

The MP for Hampstead and Highgate has resigned from her position as Treasury minister after intense pressure about her links to the ousted leader of Bangladesh

14 Jan 2025

Tax

Politics

Image for brits will face 100 tax spanish property purchases

Tax | Brits will face 100% tax on Spanish property purchases

Spain plans to introduce a punitive 100% property transaction tax for UK buyers of holiday homes while favourable Golden Visa is ending in April

14 Jan 2025

Tax

Property Tax

Tax Planning

Image for number higher rate taxpayers 43 three years

Tax | Number of higher rate taxpayers up 43% in three years

Frozen tax thresholds mean over 3.2m people will have to pay more tax this year, with the majority being dragged into 40% tax bracket

14 Jan 2025

Tax | Tax investigations reel in 28% more in 2024

Extra funding for HMRC has raked in £45.7bn in tax probes in 2024, a £10bn rise from the previous year, while over £10bn more in VAT may yet be recovered from large businesses

13 Jan 2025

Tax | Starmer says Chancellor is doing ‘fantastic job’

At the launch of the government's artificial intelligence (AI) programme, the prime minister was forced to defend Rachel Reeves’ work as Chancellor

13 Jan 2025

Tax

Politics

Image for hmrc loses ps500k day after spirit duty hike

Tax | HMRC loses £500k a day after spirit duty hike

The Scottish Whisky Association has said the Treasury has been losing half a million pounds every day since the excise duty on Scotch Whisky and spirits was increased in August 2023 by 10.1%

10 Jan 2025

Tax

Business Tax

HMRC

Image for private school vat raises question about rate meals

Tax | Private school VAT raises question about rate on meals

With the removal of the VAT exemption for private schools, finance teams are facing operational challenges with confusion on charges on meals and vocational income, warns Audrey Fearing, partner at RSM

10 Jan 2025

Tax

VAT

Tax Compliance

Image for hmrc strikers set eight dates action against sackings

Tax | HMRC strikers set eight dates for action against sackings

Members of the Public and Commercial Services Union PCS) have confirmed eight days of strike action affecting HMRC offices at Benton Park View in Newcastle

9 Jan 2025

Tax | Register for bitesize webinars on tips for tax returns

The looming 31 January tax return deadline marks one of the busiest periods for accountants and tax advisors so don’t miss our handy bitesize webinars to help you through the tax season

9 Jan 2025

Tax

Personal Tax

Tax Compliance

Image for hmrc charges interest when no tax due

Tax | HMRC charges interest when no tax is due

The Chartered Institute of Taxation (CIOT) is lobbying the government to address unfair tax rules as HMRC interest rates on late payments rise

8 Jan 2025

Tax | Inflation adds 19% more farmers to inheritance tax

More farmers than forecast will face inheritance tax charges due to inflation on land prices and frozen reliefs

8 Jan 2025

Tax | Tullow Oil cleared over £257m Ghana tax bill

London listed Tullow Oil has won an arbitration hearing over a multimillion pound tax demand from Ghana but is still fighting two further disputed tax bills

8 Jan 2025

Tax

International Tax

Case Reports

Image for how avoid pitfalls when completing tax return

Tax | How to avoid pitfalls when completing a tax return

With only three weeks until the deadline for self assessment tax returns, Cheryl Sharp FCCA, CEO at Pink Pig Financial gives her top tips on how to make the process as stress free as possible

8 Jan 2025