Personal Tax

Latest news

Image for child trust fund providers must submit annual return warns hmrc

Tax | Child trust fund providers must submit annual return, warns HMRC

HMRC has issued a reminder to child trust fund (CTF) account providers to ensure that they submit an annual return of information for all accounts even if they missed the original deadline

31 Jul 2018

Tax | IHT receipts hit £5.2bn as property prices soar

The latest government statistics, published today, show an increase in revenue from inheritance tax (IHT) as estates grew in value due to rising property prices

31 Jul 2018

Tax

Personal Tax

HMRC

Tax | Inheritance tax form 407 updated

HMRC has provided revised guidance on the use of inheritance tax (IHT) form 407 to assess potential tax liabilities on household and personal goods

31 Jul 2018

Tax | Loan scheme tax loophole closed

HMRC has moved to close a tax loophole that replaced income with loans, and warns against misleading advice from financial advisers that such schemes are still an acceptable way to avoid paying tax

31 Jul 2018

Tax | Childcare providers to open tax-free childcare account

HMRC has issued guidance on how childcare providers can open an account to receive payments from parents through the tax-free childcare scheme

30 Jul 2018

Tax | Spike in HMRC investigations into high net worth raises £1.2bn

The amount of tax increased from the top earners and wealth creators in the country has increased by nearly a third in the last year following a spike in HMRC investigations

30 Jul 2018

Tax | Publishing details of deliberate tax defaulters found ineffective

HMRC’s own research has revealed that its programme for publishing details of deliberate defaulters (PDDD) is largely ineffective as a deterrent because its aim is not well-understood

27 Jul 2018

Tax | Record tax take from non-doms

HMRC statistics show that individuals claiming non-domiciled taxpayer status paid a record £9.4bn in UK income tax, capital gains tax and National Insurance contributions last year, despite a 25% drop in their numbers

27 Jul 2018

Tax | Call for pension tax relief changes

The Treasury select committee has called on the government to implement wide-ranging reforms to tax relief on pensions and ISAs

26 Jul 2018

Tax | Farming partnership disputes: the Sargeant case

The devil is in the detail in farming accounts especially when a partnership is involved. Julie Butler, partner and Libby James, tax and accounts associate at Butler & Co, examine the recent case of Sargeant

26 Jul 2018

Tax | Judicial reviews involving HMRC jump 36%

The number of judicial reviews faced by HMRC rose to 122 in 2017, an increase of more than 30% over the previous year, marking a significant increase in the last three years

25 Jul 2018

Tax | 75% of taxpayers likely to use HMRC’s personal tax account

Personal tax accounts (PTAs), which were launched in 2015 as part of HMRC’s ‘digital by default’ strategy, have received positive feedback with 40% of taxpayers using it to file their self assessment tax return, according to independent research

24 Jul 2018

Tax | OTS outlines current projects in annual report

The Office of Tax Simplification (OTS), the independent adviser to government, has published its second annual report, covering the year to 31 March 2018 and detailing its current and future work

24 Jul 2018

Tax

Personal Tax

Tax Planning

Image for ots proposes paye online platform gig workers

Tax | OTS proposes PAYE for online platform gig workers

The Office of Tax Simplification (OTS) is suggesting the introduction of a PAYE option for online platform workers, which would see operators such as Deliveroo or Uber deducting tax from their earnings and thereby taking responsibility for fulfilling the tax obligations of their workers

20 Jul 2018

Tax | Armed forces to be compensated for Scottish tax differential

The Ministry of Defence (MOD) is to compensate thousands of military personnel based in Scotland against being left out of pocket because of differences between the Scottish tax regime and that used elsewhere in the UK, with top-up payments to be made each year

19 Jul 2018

Tax | £20bn fund for NHS will raise taxes

The Office for Budget Responsibility (OBR) is warning that the Prime Minister’s recent pledge to increase spending on the NHS is likely to put significant pressure on public finances, placing public sector net debt on an ‘unsustainable upward trajectory’, unless the government introduces future tax rises or spending cuts

17 Jul 2018