Personal Tax

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Tax | Filling in your self-assessment forms: useful tips

As the self assessment tax deadline approaches, Jamie Morrison, partner and head of private client at HW Fisher, sets out tips and advice for taxpayers

19 Jan 2021

Tax | HMRC: tax returners spread £69m with Time to Pay plan

Almost 25,000 self assessment taxpayers have set up an online payment plan to manage their tax liabilities in up to 12 monthly instalments, totalling £69.1m, HMRC has revealed

14 Jan 2021

Tax | Rulings in favour of HMRC hike pension tax liability

Zigurds Kronbergs, tax writer at Croner-i, examines two recent pension tax cases which went against claimants, Clark at the Court of Appeal and Sippchoice at Upper Tribunal, both deemed to break pensions tax rules under Finance Act 2004

13 Jan 2021

Tax | UK business ill-prepared for IR35 rule changes

With just three months to go before off payroll tax rules come into effect for the private sector, half of UK firms that hire contractors are not prepared for the changes, according to research by IR35 Shield

12 Jan 2021

Leadership & Management

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Tax | Covid judged ‘reasonable excuse’ for late SA returns

Taxpayers who fail to submit their self assessment return by the 31 January deadline because of difficulties caused by Covid will be able to claim this as a ‘reasonable excuse’ to overturn a late filing penalty, HMRC has confirmed

11 Jan 2021

Tax | Tax systems that attract the rich

In recent weeks there has been much commentary related to how taxes will need to rise to pay for the cost of borrowing arising as a result of the pandemic. Rachel de Souza, tax partner at RSM, assesses the options

11 Jan 2021

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Tax | HMRC: less than a month to file tax return

Around 5.4m taxpayers have less than a month (25 days) to complete their self assessments ahead of the 31 January deadline

6 Jan 2021

Tax | Richest 1% hold almost a quarter of UK wealth

The UK’s wealthiest 1% of households hold almost £800bn in assets official statistics show, raising their share of household wealth to 23%, according to the Resolution Foundation

4 Jan 2021

Tax | 2,700 taxpayers file returns on Christmas Day

Over 2,700 taxpayers took time out from their Christmas Day festivities to go online to file their self assessment tax return, HMRC has revealed

4 Jan 2021

Tax | HMRC penalty payments increase by 62%

HMRC penalties for taxpayers’ compliance failings are on the rise once more, following a sharp drop at the start of lockdown, according to research by UHY Hacker Young

15 Dec 2020

Tax | Q&A: fitted furniture and reduced-rated building work

In our regular Q&A series, Croner Taxwise senior VAT consultant, Vivienne Scott, answers whether VAT should be charged on fitted furniture in renovated and converted houses

15 Dec 2020

Tax | Tax updates 2020 part 1: personal

In a round-up of the biggest personal tax stories of the year, we look at all the non-coronavirus news, including a potential wealth tax, CGT charges on second home sales, ‘deliberate’ errors, fall in IHT receipts, buy-to-let tax hikes and pension tax relief admin discrepancy

15 Dec 2020

Tax | Call for one-off £260bn wealth tax

The government could raise £260bn to help pay for the costs of the Covid-19 crisis by implementing a one-off wealth tax, according to the findings of a research team of over fifty international experts on tax policy and practice

9 Dec 2020

Tax | UK urged to keep EU topping tourism tax cut

The UK is doing more to help its tourism industry than other European countries, according to study by UHY, as UK tourists pay just 7.8% in tax on a typical daily spend compared to a European average of 11.3%

7 Dec 2020

Tax | MPs want detailed analysis of VAT retail export scheme cancellation

MPs have criticised government plans to end the VAT retail export scheme (RES) at the end of this year, when the UK leaves the EU, saying it has not provided a wide enough analysis of the potential impact on the tourism industry

7 Dec 2020

Tax | Move to make HMRC preferential creditor ‘ill timed’

Accountancy firms are warning that the reintroduction of HMRC’s status as a preferential creditor at the beginning of this month could have a significant impact on businesses’ ability to obtain finance, and risks compromising the economy’s recovery from the current pandemic

3 Dec 2020