Tax

Business Tax

Image for dolphin drilling loses ps128m legacy tax case

Tax | Dolphin Drilling loses £12.8m legacy tax case

HMRC has won a case at the Court of Appeal against offshore oil company Dolphin Drilling for £12.8m in tax

17 Jan 2024

Tax | Postcode mix-up sees Scots given rest of UK tax codes

A mix-up at HMRC saw a small group of residents of a new-build Scottish housing estate issued with the wrong tax code

16 Jan 2024

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Tax | Tips for self assessment tax returns

As the deadline for self assessment approaches on 31 January, Cheryl Sharp, CEO of Pink Pig Financials, sets out the key issues to consider when completing annual tax returns

16 Jan 2024

Tax Compliance

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Tax | Q&A: inheritance tax and succession relief

In this week’s Q&A, the Croner-i VIP Tax Team considers the issue of double inheritance tax and access to Quick Succession Relief (QSR) in the event of two deaths which happen closely together

16 Jan 2024

Tax | Holidaymakers will be charged Greek climate tax

The Greek government has introduced a climate resilience tax on accommodation booked by tourists, charged on a nightly basis

12 Jan 2024

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Tax | HMRC takes more than 40 days to respond to 13% of letters

HMRC is struggling to deal with more than one million letters a month and some taxpayers have to wait more than 40 days for replies by post

12 Jan 2024

Tax Compliance

Tax | HMRC penalties rake in £851m

There has been a 25% increase in the amount of money raised from tax penalties, hitting a record £851m in an ‘easy win’ for HMRC

11 Jan 2024

Tax Compliance

Image for cgt allowance reduced ps3k april

Tax | CGT allowance reduced to £3k from April

The capital gains tax (CGT) allowance is going to be halved from £6,000 to £3,000 in April, the lowest figure for 40 years

10 Jan 2024

Tax | HMRC scoops up £345m in late payment interest charges

The amount of late payment interest paid to HMRC has soared in recent years to £345.8m, nearly three times higher than the £127m recorded in the year to October 2021

10 Jan 2024

Tax | HMRC warns crypto investors of tax risks

With self assessment returns due at the end of the month, HMRC is running a targeted campaign to remind crypto investors of their tax reporting obligations

9 Jan 2024

Tax | Salary sacrifice: how electric cars benefit employers and staff

Salary sacrifice schemes can benefit employers and employees, and reduce scope 3 emissions for business, explains Jack Tanner, head of new business at Volkswagen Financial Services Fleet

9 Jan 2024

Employment Tax

Image for late filing penalties waived postmasters awaiting top ups

Tax | Late filing penalties waived for postmasters awaiting top-ups

Postmasters in the Horizon Shortfall Scheme (HSS) who do not receive top-up payments in time to file their tax return will not have to pay late filing or late payment penalties, and interest

9 Jan 2024

Tax | Q&A: higher rate stamp duty on residential property

In this week’s Q&A, Marsha Haywood, tax adviser at Croner-i, considers the stamp duty land tax charges when two properties are jointly owned by a married couple

9 Jan 2024

Property Tax

Tax | What to expect in the world of tax in 2024

2023 was transformative for accountants, most notably with the unstoppable rise of generative AI. Russell Gammon, chief solutions officer at Tax Systems looks at what trends will shape the year ahead

8 Jan 2024