Tax | Rogue tax advisers will face tougher scrutiny

HMRC is planning to streamline its approach to tackling poor tax agent behaviour which is encouraging abuse of the tax system

11 Mar 2022

Tax

HMRC

Tax Compliance

Tax | MTD brings in £195m more tax

An estimated £195m extra tax revenue has been brought in through businesses using Making Tax Digital (MTD) for VAT reveals research from HMRC

11 Mar 2022

Tax

Making Tax Digital

VAT

HMRC

Tax | Personal tax planning tips for year end

There are now less than two months until the end of the tax year, so Laura Suter, head of personal finance at AJ Bell, gives her guide to what people need to consider before the 5 April deadline

11 Mar 2022

Tax

Personal Tax

Tax Planning

Tax | Taxpayer loses £1.4m tax dispute over penalty

The courts have ruled that a taxpayer had made ‘no reasonable excuse’ for not paying a £14m tax bill and has upheld the £1.4m penalties issued by HMRC

10 Mar 2022

Tax

Business Tax

Tax | HMRC returns looted ancient statue to Libya

A 2,500-year-old statue that was smuggled into the UK and seized by HMRC has been returned to Libya

10 Mar 2022

Tax

HMRC

Tax | IHT liability and gifts for the maintenance of family

Tax expert Meg Saksida FCA, CTA, TEP, considers the inheritance tax rules when making gifts for the maintenance of family, including exemptions and threshold limits

9 Mar 2022

Tax

Tax Compliance

Tax Planning

Tax | Court rejects £49k tax appeal over furlough excuse

The court ruled that the taxpayer’s accountant being on furlough was not an excuse for a late appeal against a discovery assessment for capital gains tax (CGT) worth £49,000

9 Mar 2022

Tax

Property Tax

Case Reports

Tax | Umbrella company workers face higher NIC increase

People working within an umbrella company will see a 2.5% increase on their National Insurance contributions (NICs) as they will have to pay for both the employee and employer levy

8 Mar 2022

Tax

Business Tax

Employment Tax

Tax | Overseas owners given six months to register property

Early amendments to the Economic Crime Bill will see the deadline for registering properties reduced to six months while fines have been strengthened

8 Mar 2022

Tax

Property Tax

Tax | Nearly half of tax investigations dropped by HMRC

HMRC investigations into individuals and small businesses last year yielded no returns in 47% of all cases, finds research by UHY Hacker Young

8 Mar 2022

Tax

HMRC

Tax Compliance

Tax | Fraudsters try to hijack personal tax accounts, warns HMRC

HMRC is warning taxpayers not to share sensitive personal information online to avoid their identities being used to commit tax fraud

8 Mar 2022

Tax

Personal Tax

HMRC

Tax | Q&A: private residence relief for a trust

In this week’s Q&A series, Kiya Jacobs, tax advice consultant at Croner Taxwise, explains whether principal private residence relief (PRR) is available when a property is held in trust and capital gains tax liability

8 Mar 2022

Tax

Property Tax

Tax Compliance

Tax Planning

Tax | Two medical agencies lose £2m VAT case

The Court of Appeal has rejected an appeal by two medical recruitment agencies which were arguing that VAT costs were refundable on commissions paid for staff placements

7 Mar 2022

Tax

VAT

Case Reports

Tax | HMRC asks businesses to label NIC rise on payslips

HMRC has emailed employers ‘strongly encouraging’ them to label the increased National Insurance contributions (NICs) rate on their employee’s payslips as ‘for the NHS’

4 Mar 2022

Tax

Business Tax

Personal Tax

HMRC

Tax | More than 80% of impacted businesses unaware of MTD changes

With just one month to go until the rollout of the Making Tax Digital (MTD) for VAT extension, 82% of eligible businesses that are yet to comply are still unaware of the impending deadline

4 Mar 2022

Tax

Making Tax Digital

VAT

Tax Compliance