Tax

Latest news

Image for hmrc raises late payment interest 6 january

Tax | HMRC raises late payment interest from 6 January

HMRC will raise interest rates on tax debt from 6 January following the latest 0.5% increase in the Bank of England base rate

21 Dec 2022

Tax

HMRC

Tax Compliance

Tax | HMRC agent phone lines restricted to ‘complex’ enquiries

HMRC has warned accountants and tax agents that it will only be able to deal with ‘complex’ phone enquiries about self assessment during January

21 Dec 2022

Tax | Homeowner wins £212k stamp duty appeal

An individual has won a First Tier Tribunal (FTT) appeal against a demand from HMRC over disputed stamp duty land tax (SDLT) payments

21 Dec 2022

Tax | Overseas property register will target offshore tax evaders

HMRC is planning to use the Register of Overseas Entities to target tax evaders who may be hiding funds offshore to reduce their tax bills

21 Dec 2022

Tax

HMRC

Tax Compliance

Image for accountants blame lack testing mtd delay

Tax | Accountants blame lack of testing for MTD delay

The decision to delay the rollout of Making Tax Digital for income tax until 2026 could signal complications with the reporting system and lack of effective trials

20 Dec 2022

Tax | Alcohol duty freeze extended

There is a small respite for the hospitality sector as the freeze to UK alcohol duty rates has been extended six months to 1 August 2023

20 Dec 2022

Tax

Business Tax

Budget

Tax | Spring Budget set for 15 March

The Treasury has confirmed that the Spring Budget will be held on 15 March 2023

20 Dec 2022

Tax

Budget

Image for making tax digital income tax delayed until 2026

Tax | Making Tax Digital for income tax delayed until 2026

The government has delayed the introduction of Making Tax Digital (MTD) for income tax for landlords and self employed by two years until 2026 and raised the threshold

20 Dec 2022

Tax

Making Tax Digital

HMRC

Tax | HMRC drop in tax investigations costs £9bn

HMRC’s tax compliance work raised £9bn less tax revenue than normal during the pandemic as thousands of staff moved to Covid-19 support schemes

16 Dec 2022

Tax

HMRC

Tax Compliance

Image for higher rate child benefit charge raises ps416m

Tax | Higher rate child benefit charge raises £416m

Over 373,000 taxpayers paid high income child benefit charge, raising £416m, down from £437m the previous year

16 Dec 2022

Tax | Scottish Budget raises tax for higher earners and second home owners

After the Scottish Budget was delayed following a leak to the BBC, John Swinney announced tax rises for higher earners and second home owners

15 Dec 2022

Tax | IFS warns of inheritance tax loophole

The current tax system is allowing people to use their pension pots to avoid inheritance tax and should be changed to allow the government to collect more tax, claims the IFS

15 Dec 2022

Tax

Personal Tax

Pensions

Image for pcs wins case over hmrc refusal deduct union subscriptions

Tax | PCS wins case over HMRC refusal to deduct union subscriptions

The Public and Commercial Services Union (PCS) has won a claim in the High Court over the removal of HMRC staff’s right to have their union membership fees deducted at source

14 Dec 2022

Tax

HMRC

Careers

Image for proceeds crime appeal over ps66m tax evasion succeeds

Tax | Proceeds of crime appeal over £6.6m tax evasion succeeds

The Court of Appeal has sent an appeal over a proceeds of crime demand back to the Crown Court regarding a confiscation order totalling £6.6m in VAT and PAYE fraud

14 Dec 2022