Tax | Lack of detail on invoices did not prevent £15k VAT refund

A London construction company has won an appeal after the First Tier Tribunal ruled that limited information on invoices was not a reason for HMRC to reject VAT claim

9 May 2024

Tax

VAT

Case Reports

Tax | HMRC wants to reduce number of students calling helplines

In a bid to reduce the number of calls by students to helplines, anyone applying for a student loan is advised to use the HMRC App

8 May 2024

Tax

HMRC

Tax | Mixed use appeal backfires for £3m Buckinghamshire estate

A couple have lost a claim for a £104,000 stamp duty land tax (SDLT) refund as part of their 22-acre property used by ‘troublesome cattle’ was not mixed use

8 May 2024

Tax

Property Tax

HMRC

Case Reports

Tax | HMRC flags risk of errors when claiming capital allowances

HMRC is warning businesses to check their capital allowances claims carefully due to the risk of making errors, issuing guidance on problem areas

8 May 2024

Tax

Business Tax

HMRC

Tax Compliance

Tax Planning

Tax | Gold investment firm wins £14m VAT penalty dispute

A gold bullion investment firm has won an appeal at the Upper Tribunal over a multimillion pound VAT penalty issued by HMRC for record keeping failures

7 May 2024

Tax

VAT

Case Reports

Tax | Loan charge group hits back at Huddleston over 'misleading' letter

The Loan Charge Action Group has strongly criticised the Treasury minister over a ‘deeply inadequate and misleading reply’ to a letter demanding answers on the loan charge crisis

7 May 2024

Tax

Personal Tax

HMRC

Tax | Third of HMRC workers paid national minimum wage

Almost a third of HMRC staff are so poorly paid they were given an unscheduled salary increase in April to ensure that the government department was compliant with the minimum wage

7 May 2024

Tax

HMRC

Tax | £3k CGT allowance puts crypto investors at tax risk

Anyone buying crypto needs to keep up-to-date records of transactions to ensure they pay the right capital gains tax, especially as gains now have to be declared on tax returns

3 May 2024

Tax

Personal Tax

HMRC

Tax Compliance

Tax | CPD module: income tax rates and liability

In this month's exclusive Accountancy Daily CPD learning module, we explain the rates of income tax for UK for 2024-25 including thresholds, dividends and savings

2 May 2024

Tax

Personal Tax

Tax | HMRC writes to £100k-£150k earners about tax return overhaul

Anyone earning between £100,000 and £150,000 should have received a letter from HMRC warning them about significant changes to the rules on tax returns

2 May 2024

Tax

Personal Tax

Tax Compliance

Tax Planning

Tax | Treasury rules out carve-out for furnished holiday lets

The Treasury has rejected calls for exemptions to the new furnished holiday let rules set to come into force from next year

2 May 2024

Tax

Property Tax

Budget

Tax | Non-doms: out with the old, in with the new

The new rules rely on the complex statutory residency test but there is a four-year planning window for non-doms under the foreign income and gains (FIG) regime, explain Charlotte Sallabank and Christy Wilson at Katten

2 May 2024

Tax

Personal Tax

International Tax

Tax Planning

Tax | Tax filing deadlines: May - July 2024

Our handy guide to key dates for VAT returns and balancing payments due for VAT annual accounting period ending 31 March

1 May 2024

Tax

Tax Compliance

Tax Planning

Tax | Tax traps for high earners removed from self assessment

Jennifer Collins, associate director at RSM considers the implications of the increase in the earnings income threshold to £150,000 for self assessment tax returns

1 May 2024

Tax

Personal Tax

Tax Compliance

Tax Planning

Tax | Cheshire country house owners lose £603k tax dispute

The buyers of a Georgian country house with extensive grounds have to pay £603,750 in higher rate stamp duty on the transaction as the property is purely residential

1 May 2024

Tax

Property Tax

Case Reports