Tax | Business tax take up by £9.2bn

The latest tax figures show a hike in revenues for the Treasury as total revenues hit £580.8bn in the first nine months of the tax year

23 Jan 2024

Tax

Business Tax

Employment Tax

Personal Tax

Property Tax

HMRC

Tax | Property owner did not qualify for £43k PPR tax relief

A London taxpayer has lost a dispute with HMRC after making a wrongful claim for £43,000 in principal private residence relief after failing to prove he lived in a property

23 Jan 2024

Tax

Property Tax

Case Reports

Tax | 3.8m self assessment tax returns still to be filed

One in four taxpayers still have to file their annual tax return or face a £100 penalty with only one week to go until the self assessment deadline

23 Jan 2024

Tax

Personal Tax

Tax Compliance

Tax | Q&A: Corporation tax rates for non-resident landlords

In this week’s Q&A, Vivienne Cheung, tax adviser at Croner-I, examines whether a non-resident company can use small profits rates and marginal relief for corporation tax purposes

23 Jan 2024

Tax

Business Tax

Property Tax

Tax Compliance

Tax | Warning not to pay tax late due to 7.75% interest rate

Taxpayers are being warned to pay any tax due by the 31 January deadline as HMRC interest rates hit their highest rate for more than 20 years

22 Jan 2024

Tax

Personal Tax

HMRC

Tax | One in three taxpayers struggle with tax returns

A third of people required to complete self assessment tax returns are worried they will make mistakes while over half are not aware of the filing deadline

22 Jan 2024

Tax

Personal Tax

HMRC

Tax | MPs call for review of ‘unaffordable’ loan charge

Victims of the loan charge were the centre of attention at a parliamentary debate, where MPs urged the government to launch an independent investigation into the charge and to focus on promoters instead of taxpayers

19 Jan 2024

Tax

Personal Tax

Politics

Tax | HICBC not paid in part due to ignorance of law

A higher rate taxpayer has part won an appeal at the First Tier Tribunal over penalties and payments related to High Income Child Benefit Charge stretching back seven years

19 Jan 2024

Tax

Personal Tax

HMRC

Case Reports

Tax | HMRC letter campaign targets traders on online marketplaces

HMRC is targeting overseas traders on online marketplaces operating in the UK without establishment status to ensure they are paying the correct VAT

18 Jan 2024

Tax

VAT

HMRC

Tax Compliance

Tax | Walkers loses VAT appeal over Sensations Poppadoms

Crisp giant Walkers must pay VAT on its range of Sensations Poppadom snacks after losing an appeal at the First Tier Tribunal

18 Jan 2024

Tax

Business Tax

VAT

HMRC

Case Reports

Tax | Tax treatment of Islamic finance arrangements under review

The government is consulting on proposals to reform the tax treatment of alternative refinancing arrangements using Islamic finance, particularly capital gains tax

18 Jan 2024

Tax

Consultations

Tax | Explained: the tax rules for online marketplace sales

Online platforms will have to report sale details to HMRC in future, but the basic tax responsibilities for individual sellers have not changed. Lee Murphy of The Accountancy Partnership explains 

18 Jan 2024

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Mandatory payrolling of employment benefits from 2026

The reporting and payment of income tax and Class 1A NICs on benefits in kind (BIK) will have to be made through payroll software from April 2026

18 Jan 2024

Tax

Employment Tax

HMRC

Tax | National Insurance credit scheme to tackle child benefit gaps

The government will legislate to allow parents who have not claimed child benefit, including those affected by HICBC, to apply for top-up National Insurance credits

18 Jan 2024

Tax

Personal Tax

Tax Compliance

Tax | What to do when frozen thresholds put you in a higher tax bracket

The freeze on income tax thresholds and changes to dividend and CGT allowances will see millions dragged into higher rates of taxation, but there are ways for higher earners to reduce their tax bill, explains Laura Suter, director of personal finance at AJ Bell

17 Jan 2024

Tax

Personal Tax

Tax Planning