Personal Tax

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Image for accountant blamed taxpayer loses ps308k tax appeal

Tax | Accountant blamed as taxpayer loses £308k tax appeal

A taxpayer’s appeal against a £308,798 tax assessment was rejected after the court ruled that the taxpayer’s accountant had acted carelessly when implementing a tax avoidance scheme

11 Feb 2022

Tax

Personal Tax

Case Reports

Image for hmrc needs improve cest tool reduce risks ir35 reform

Tax | HMRC needs to improve CEST tool to reduce risks of IR35 reform

The size and complexity of the private sector means that the extension of off-payroll rules to the private sector makes compliance a problem for HMRC, warns NAO

10 Feb 2022

Tax | Lords slam rise in use of umbrella companies to avoid tax

The government's extension of off-payroll working rules to the private sector in April 2021 has resulted in an increased use of umbrella companies, Lords warn

10 Feb 2022

Tax | Suburban Harrow named tax avoidance hotspot

The London suburb of Harrow has been revealed as the unexpected centre for tax avoidance in the UK with 346 taxpayers admitting to avoiding tax last year

8 Feb 2022

Tax

Personal Tax

Image for mps call road pricing replace ps38bn motoring taxes

Tax | MPs call for road pricing to replace £38bn motoring taxes

The ban on the sale of new diesel and petrol vehicles by 2030 will create huge pressure on the government to come up with an alternative to raise billions in tax revenue

4 Feb 2022

Tax

Personal Tax

Image for cpd module deduction tax source 0

Tax | CPD module: deduction of tax at source

This month's exclusive Accountancy Daily CPD module provides a refresher course for the rules and accounting practices for deducting income tax at source from payments

3 Feb 2022

Tax

Business Tax

Personal Tax

Image for top 10 tips pension tax advantages and pitfalls

Tax | Top 10 tips: pension tax advantages and pitfalls

Do you know your lifetime allowance from the restrictions of the money purchase annual allowance for pensions? Adrian Lowery, personal finance expert at Bestinvest, and Louise Higham, chartered financial planner at Tilney, Smith & Williamson explain the tax intricacies

3 Feb 2022

Tax | 2.3m taxpayers miss self assessment deadline

More than 10.2 million taxpayers filed their 2020/21 tax returns by the 31 January deadline, down 500,000 on the previous year, leaving 2.3m taxpayers failing to file on time, HMRC has confirmed

1 Feb 2022

Tax | National insurance hike will go ahead

Boris Johnson and Rushi Sunak have pledged to go ahead with the upcoming 1.25% rise in national insurance for employees and employers from April, saying it is a progressive tax

31 Jan 2022

Tax

Personal Tax

Politics

Image for lifetime tax bill hits ps11m household

Tax | Lifetime tax bill hits £1.1m per household

The average household will pay over £1.1m in tax in their lifetime, meaning they would have to work for 18 years just to pay off their tax bills

31 Jan 2022

Tax

Personal Tax

Tax Planning

Image for lack awareness about tax free childcare scheme

Tax | Lack of awareness about tax free childcare scheme

HMRC commissioned research into tax free childcare payments has raised issues about awareness of the scheme with many parents put off claiming for the scheme due to a lack of understanding about eligibility

28 Jan 2022

Tax

Personal Tax

HMRC

Image for hosting airbnb tax implications

Tax | Hosting on Airbnb: tax implications

Signing up as an Airbnb host may seem like an easy way to earn additional income but it is important to understand the tax liabilities, says Tim Walford-Fitzgerald, private client partner at HW Fisher

27 Jan 2022

Tax

Personal Tax

Tax Compliance

Image for hmrc pushes ps2000 payment towards childcare costs

Tax | HMRC pushes £2,000 payment towards childcare costs

Thousands of working families in the UK could be missing out on an opportunity to get up to £2,000 a year to help with the cost of childcare, HMRC has warned parents

26 Jan 2022

Tax

Personal Tax

HMRC

Image for corporation tax take ps11bn december

Tax | Corporation tax take up £11bn in December

Tax receipts have risen across the board with the latest figures showing that HMRC has collected £507.7bn between April and December 2021 which is £114.1bn more than the previous year, with corporation tax up significantly

25 Jan 2022

Tax | UK spent 25m hours filing tax returns

Taxpayers spent the equivalent of two hours filing their tax returns in the last year, adding up to 25m hours of tax admin, research by Which has found

25 Jan 2022

Tax

Personal Tax

HMRC

Tax | HMRC hikes demands for confidential info in tax probes

HMRC made 875 requests to professional services firms, such as tax advisers, accountants, and lawyers, for information relating to clients suspected of tax evasion in the last year

24 Jan 2022

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Tax Services

Latest news

Tax | Accountant blamed as taxpayer loses £308k tax appeal

Tax | HMRC needs to improve CEST tool to reduce risks of IR35 reform

Tax | Lords slam rise in use of umbrella companies to avoid tax

Tax | Suburban Harrow named tax avoidance hotspot

Tax | MPs call for road pricing to replace £38bn motoring taxes

Tax | CPD module: deduction of tax at source

Tax | Top 10 tips: pension tax advantages and pitfalls

Tax | 2.3m taxpayers miss self assessment deadline

Tax | National insurance hike will go ahead

Tax | Lifetime tax bill hits £1.1m per household

Tax | Lack of awareness about tax free childcare scheme

Tax | Hosting on Airbnb: tax implications

Tax | HMRC pushes £2,000 payment towards childcare costs

Tax | Corporation tax take up £11bn in December

Tax | UK spent 25m hours filing tax returns

Tax | HMRC hikes demands for confidential info in tax probes