Self assessment taypayers are wary of receiving letters about random checks to their tax status, finds the latest HMRC research into communications with the public
The capital gains tax (CGT) paid on the sale of investments and second homes has reached an all-time high of almost £10bn official figures released by HMRC show
Despite talk of reforming capital gains tax, the March Budget swerved the issue, but the autumn statement may give the Chancellor the opportunity to tighten the rules, argue Eddie Bines and Greg Pollock from restructuring specialists Kroll
HMRC has closed the specialist Family Investment Company Unit after finding no evidence of a correlation between the use of family investment companies (FIC) and non-compliant behaviour
HMRC’s elite Offshore, Corporate, and Wealthy (OCW) Unit secured convictions totalling 67 years last year which is nearly treble the total of just 23 years secured the year earlier
The amount of inheritance tax raised during tax year 2020-21 has increased by 4% to £5.4bn, up £190m year on year, although the amount of money offset for charitable donations has declined over the same period
The Low Incomes Tax Reform Group (LITRG) is reminding self-assessment taxpayers that the second payment on account for 2020-21 is due for payment by 31 July 2021
HMRC has issued a warning to 300,000 tax credit customers that they have less than a week to update applications or they risk their financial support being stopped
The total amount of income tax paid in Scotland was £11.8bn, up 2.4% from the previous year and in Wales the tax take was £4.6bn, 2019-20 figures from HMRC reveal
The Low Incomes Tax Reform Group (LITRG) announced its disappointment in the government for the lack of progress towards rectifying net pay pension schemes that sees an estimated 1.5m low-income workers paying a 25% penalty for their pension savings
As part of draft legislation for the next Finance Bill, the government has set out further measures to clamp down on promoters of tax avoidance schemes which will see HMRC given more powers
With the fifth in the series just days away, the Self-Employed Income Support Scheme (SEISS) seems intent on overtaking the Fast and Furious film franchise (which currently stands at nine). This time around, the twists and turns come in the form of a new turnover test which determines how much the applicant is entitled to claim. Stephen Relf, Croner-i explains
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