Tax | Taxpayer fined for filing tax returns 500 days late

A taxpayer has lost an appeal related to a demand for £1,400 in penalties for late income tax self assessment forms which were filed years late

7 Feb 2024

Tax

Personal Tax

HMRC

Case Reports

Tax | ICAEW criticises ‘extreme waiting times’ on HMRC phones

HMRC needs more resources to improve digital services if it continues to withdraw phone support for accountants as service quality is ‘unacceptable’

7 Feb 2024

Tax

HMRC

Politics

Tax | HMRC failure to notify penalties raise £31m

Action to crack down on tax avoidance has seen HMRC pursue nearly 60,000 taxpayers with failure to notify penalties

7 Feb 2024

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Q&A: interest in possession trust and tax liability

In this week’s Q&A, Croner-i tax advice consultant Kyra Jacobs, explains the best approach when dealing with an interest in possession trust and inheritance tax issues

7 Feb 2024

Tax

Personal Tax

Property Tax

Inheritance Tax

Tax | HMRC targets undeclared dividend payments

Company directors suspected of earning dividends without declaring their taxable income are being contacted by HMRC

6 Feb 2024

Tax

Business Tax

Personal Tax

HMRC

Tax | Hippodrome Casino loses £447k VAT case

The Upper Tribunal has rejected Hippodrome Casino’s VAT appeal to treat free food and drink handed out to gamblers as non-taxable supplies for gaming

5 Feb 2024

Tax

Business Tax

VAT

Tax Compliance

Case Reports

Tax | Tax filing deadlines: February - April 2024

Our handy guide to tax filing deadlines for deferment of payment for Class 1 NICs to corporation tax returns for accounting periods ended 28 February 2023

5 Feb 2024

Tax

Tax Compliance

Tax Planning

Tax | Paystone Services runs tax avoidance scheme for health workers

A Glasgow umbrella company has been named for paying workers from the health and tech sectors partly untaxed payments for agency work

5 Feb 2024

Tax

Employment Tax

Personal Tax

Tax | 25% corporation tax would stay under Labour

A Labour government would not increase the 25% corporation tax if voted in according to shadow Chancellor Rachel Reeves

2 Feb 2024

Tax

Business Tax

Politics

Tax | HMRC stops Online Agent Authorisation for VAT clients

HMRC is removing the legacy VAT for Agents registration facility from the Online Agent Authorisation (OAA) service in two weeks’ time

2 Feb 2024

Tax

VAT

Tax Compliance

Tax | Six-month alcohol duty freeze for pubs

A freeze on alcohol duty in pubs announced in the Autumn Statement comes into effect from 1 February

1 Feb 2024

Tax

Business Tax

Tax Compliance

Tax | 605k people miss tax return deadline

More than double the number of taxpayers have failed to file their self assessment tax return on time this year, despite 11.5m filers managing to remember tax d-day

1 Feb 2024

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Property tax take exceeds pre-pandemic level at £15bn

The tax take from stamp duty has shot up to pre-pandemic levels at £15.4bn despite high mortgage rates and the average buyer paying £9,937

1 Feb 2024

Tax

Property Tax

HMRC

Tax | Over £1bn lost through R&D tax error and fraud

A lack of resources to monitor compliance means that a record 341 tax reliefs cost taxpayers £204bn in 2023 with just 25 evaluated for cost effectiveness in the last eight years

1 Feb 2024

Tax

Business Tax

HMRC

Tax | 2% National Insurance cut to tax bills

Employees will benefit from a 2% reduction in employees’ National Insurance in payslips this month, the first respite for taxpayers since thresholds were frozen in 2021

31 Jan 2024

Tax

Personal Tax

Tax Compliance

Politics