Tax

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Tax | Tax take on savings trebles to £3.4bn

Rising interest rates and the growing number of people paying higher rate tax means that HMRC is reaping the rewards with £3.4bn paid in tax on savings in the last year

18 Jul 2023

Tax | If we thought the consequences of the loan charge were bad…

Taxpayers using two online accountancy firms are under investigation by HMRC and have been recategorised as managed service companies with potentially significant tax liabilities. Neil Tipping, lead enquiry consultant for Croner-i, explains the risks

18 Jul 2023

Tax | Payment on account tax deadline is 31 July

With two weeks to go until the second payments on account deadline for tax bills, Stevie Heafford, tax partner at accountancy firm HW Fisher, provides tips and advice on compliance

18 Jul 2023

Tax | HMRC to cut access to phone lines by 30%

The tax authority plans to cut the use of phone-based tax advisers by 30% within two years as it struggles to cope with increasing demand and cuts to staffing budgets

17 Jul 2023

Tax

HMRC

Tax Compliance

Tax | Four in 10 callers to HMRC cannot get through

HMRC service levels continue to decline as only 61% of callers managed to get through to an adviser by phone in the latest performance report

17 Jul 2023

Tax

HMRC

Tax Compliance

Tax | HMRC gives £1.8m to charities to help excluded taxpayers

The voluntary and community sector will be able to apply for grants to support their work with taxpayers who need extra assistance with their tax affairs

17 Jul 2023

Tax

HMRC

Tax Compliance

Image for tax pain makes life difficult landlords

Tax | Tax pain makes life difficult for landlords

Landlords of residential property may find themselves needing support as their forecasts and business plans might have been shredded by consecutive interest rate rises, warns Matthew Todd, manager at RSM

17 Jul 2023

Tax | Director loses £20k VAT appeal as paid four days late

A director has lost a First Tier Tribunal (FTT) appeal over a VAT default penalty issued by HMRC for £20,000 for a payment that was only four days late

17 Jul 2023

Tax | Construction director jailed over £100k VAT fraud

A businessman has been jailed for 14 months after failing to pay a £100,000 tax bill since being charged for VAT fraud in September 2016

14 Jul 2023

Tax | South Yorkshire secures £80m for investment zone

Sheffield, Rotherham, Doncaster and Barnsley are set to benefit from thousands of new jobs and £1.2bn of investment as Boeing signs up to investment zone

14 Jul 2023

Tax | Business mileage rate frozen at 45p since 2011

People who drive their own cars for work purposes are being short-changed because the tax-free amount they are paid has not changed for more than a decade, says RAC

14 Jul 2023

Tax

Personal Tax

Image for hmrc will only be paid ps4m prezzo tax bill

Tax | HMRC will only be paid £4m of Prezzo tax bill

The High Court has ruled that Prezzo Investco, owner of the Prezzo restaurant chain, can exercise a cram down which means that creditors, including HMRC, will not be paid in full

14 Jul 2023

Tax | India hits online gaming industry with 28% tax

India plans to make a significant 10% increase to the current 18% gaming tax on revenue that online gaming companies collect from their customers, but some fear that it might damage the $1.5bn sector

13 Jul 2023

Tax | Southend United given extra time to pay £275k tax bill

Southend United football club has been granted more time to secure its future and pay off a £275,000 tax bill owed to HMRC

13 Jul 2023

Tax | Electric vehicle VAT cuts would not be passed on

Despite the high profile campaigns to scrap VAT on sunscreen and public electric vehicle charging, the changes would be an expensive waste of money and would not benefit consumers, claim tax experts

12 Jul 2023

Tax

VAT

Tax Compliance