Tax

Latest news

Image for financial intermediary wins ps250k vat appeal

Tax | Financial intermediary wins £250k VAT appeal

HMRC has lost a £250,000 VAT case after tribunal ruled a sales lead company was acting as an intermediary when providing sales leads to independent financial advisors (IFAs)

11 Jun 2025

Tax | MPs ‘alarmed’ by HMRC failure to notify £47m phishing attack

The chair of the Treasury committee has sent a scathing letter to the newly appointed CEO of HMRC after he failed to tell MPs about a large-scale phishing attack affecting 100,000 taxpayers

11 Jun 2025

Tax

Personal Tax

HMRC

Image for 34 tax rate private equity managers under carried interest

Tax | 34% tax rate for private equity managers under carried interest

The Treasury has made minor improvements to carried interest tax rules for private equity and asset managers, but they will have to comply with current payments on account (POA) rules for paying and calculating outstanding tax with HMRC

9 Jun 2025

Tax | Pensioners with sub £35k income to get winter fuel payment

Majority of pensioners will be paid winter fuel allowance with clawback for those above threshold of £35,000 as chancellor confirms major u-turn

9 Jun 2025

Business | Labour in Catch-22 ahead of spending review

Alison Ring, ICAEW director of public sector and taxation, looks at the tough choices facing the Chancellor and why HMRC needs more than temporary funding bursts

9 Jun 2025

Tax | Dance instructors lose VAT exemption appeal

Dance teachers who ran private lessons appealed against VAT assessments by HMRC as they argued their classes were commonly taught in schools

9 Jun 2025

Tax | HMRC restores phone lines after outage

Following a total shutdown of HMRC’s phone lines midway through Wednesday, all helplines were restored by 8am this morning, but HMRC does not know why the system went down

5 Jun 2025

Tax

HMRC

Image for cyprus hike corporate tax cut personal tax rates

Tax | Cyprus to hike corporate tax, cut personal tax rates

Cyprus plans to overhaul tax system with increase in tax-free personal threshold, and changes to non dom rules and tax on rental income

5 Jun 2025

Tax

International Tax

Tax Planning

Image for register webinar tax tribunal tips

Tax | Register for webinar on tax tribunal tips

5 Jun 2025

Tax

HMRC

Tax Compliance

Tax | World darts champion owes HMRC £465k

A former world darts champion has been banned from acting as a company director after withdrawing hundreds of thousands of pounds while owing over £460,000 of tax debts

5 Jun 2025

Tax | HMRC raked in £252m from late payment interest

Over just three years HMRC collected over half a billion pounds in late payment interest after hikes in interest rates saw the figure rise by almost £100m in a single year

5 Jun 2025

Tax

HMRC

Tax Compliance

Image for drycleaners lose ps25k tax appeal over bank holiday pricing

Tax | Drycleaners lose £25k tax appeal over Bank Holiday pricing

The owners of a dry cleaners in Camden have lost an appeal against personal liability notices (PLNs) after failing to prove the average price of their service was lower than HMRC said

5 Jun 2025

Tax | All HMRC phonelines down in major outage

The entire HMRC phone system has been hit by a serious technical issue which means inbound callers are only met with a recorded message saying the service is down

4 Jun 2025

Tax | HMRC online accounts hit by unauthorised access

Up to 100,000 taxpayers’ online personal tax accounts have been locked down after HMRC security systems detected unauthorised access to some accounts, having identified the issue nearly a year ago

4 Jun 2025

Tax

Personal Tax

HMRC

Tax | HMRC ordered to pay legal costs after ‘unreasonable’ actions

The First Tier Tribunal (FTT) has ordered HMRC to cover costs incurred to appeal a penalty that was dropped on the fourth day of a hearing as it was found to have been unreasonable

4 Jun 2025

Business | The £1m allowance for business property relief

With major changes to inheritance tax for owner managed businesses due in less than a year and no final legislation yet, Stephanie Webber ACA CTA, senior technical writer at Croner-i, explains what we know so far, raising questions about the position of chargeable transfers

4 Jun 2025