Tax

Latest news

Image for inheritance tax what happens trusts after farm tax overhaul

Tax | Inheritance tax: what happens to trusts after farm tax overhaul

Trusts are in HMRC’s firing line as part of the swingeing cuts to agricultural property relief, but is it possible to mitigate against this, ask Katie Martin and Louise Garrett of Hunters

20 May 2025

Tax | Q&A: statutory sick pay and calculating working days

In this week’s Q&A, Sue Walker, payroll adviser at croner-i My VIP Tax Team, explains interaction of statutory sick pay (SSP), intermittent days and the period of incapacity for work

20 May 2025

Tax | Only 1,000 accountants signed up for MTD trial

HMRC is pushing Making Tax Digital (MTD) for Income Tax more than ever in a rush to iron out the kinks before it goes live in 2026 but defends number of trial participants as being ‘in line with our expectations’

20 May 2025

Tax

Making Tax Digital

HMRC

Tax | HMRC collects £5.2bn from wealthiest tax avoiders

The National Audit Office warns that HMRC estimates of the size of the wealthy individuals’ tax gap ‘does not capture full scale of non-compliance’ while one in four do not have an accountant

19 May 2025

Tax | Travelling musicians could be charged €25k penalty

British musicians heading to Germany to perform at the Dresden Music Festival must apply for all of the tax exemptions on offer or face harsh penalties

16 May 2025

Tax | Farmers cannot ‘rethink businesses on a whim’

MPs call on government to delay changes to agricultural property relief by a year to April 2027 to allow for proper consultation and a more coherent tax policy

16 May 2025

Tax

Inheritance Tax

Politics

Image for baxendale walker given stop notices tax avoidance schemes

Tax | Baxendale-Walker given stop notices for tax avoidance schemes

Paul Baxendale-Walker has been ordered to stop promoting two tax avoidance schemes with immediate effect by HMRC or face penalties or even prosecution if he fails to comply

15 May 2025

Tax

Personal Tax

HMRC

Tax | HMRC stops posting letters for CT reminders and receipts

HMRC is to start a trial to determine whether to stop sending businesses corporation tax reminder letters where the information can be easily accessed through online accounts

15 May 2025

Tax | Taxpayer who owed no tax wins £1.7k penalty appeal

The First Tier Tribunal concluded a taxpayer had a reasonable excuse to miss filing a tax return as she owed no tax and HMRC emails went straight to her junk

15 May 2025

Tax | Marathon promoter wins ‘excessive’ £330k R&D dispute

A company organising placements for marathon runners and virtual runs took HMRC to the tribunal after being ordered to repay over £330,000 in R&D relief, and won

15 May 2025

Tax | Plan to regulate tax advisors ‘too draconian’ says ICAEW

HMRC’s consultation on closing in on promoters of tax avoidance has been described as having ‘poorly targeted proposals’ by ICAEW and risks damaging trust in the tax system further

14 May 2025

Tax

HMRC

Tax Compliance

Tax | HMRC raided 12 properties per week in 2024

648 dawn raids were completed by HMRC in 2024 as it steps up its pursuit of tax evaders to close the ever-growing tax gap

14 May 2025

Tax

HMRC

Tax Compliance

Image for beneficiary ps850k estate loses iht battle

Tax | Beneficiary of £850k estate loses IHT battle

The beneficiary of Mohammed Chugtai’s £850,000 estate placed into trusts has lost an appeal against an inheritance tax bill as deceased benefitted from the trusts

14 May 2025

Tax | Third of sole traders don’t know what MTD is

Making Tax Digital (MTD) for Income Tax is right around the corner but one in three sole traders have never heard of it, while nearly as many accountants feel unprepared

13 May 2025

Tax

Making Tax Digital

HMRC