Personal Tax

Latest news

Image for tax warning footballers and agents contracts

Tax | Tax warning for footballers and agents on contracts

Following a number of tax disputes, HMRC has clarified the tax treatment of football agents’ fees and dual representation contracts, flagging the risk of compliance checks if tax rules are flouted

15 May 2024

Tax | ‘Parasitical’ HMRC investigation dismissed at tribunal

A £40m dividend payment to companies incorporated in Bermuda and a settlement in Guernsey led HMRC to investigate three company directors

14 May 2024

Tax | Nadhim Zahawi admits settling £5m tax bill

‘Non-deliberate’ and ‘careless mistake’ led to Zahawi having to pay a £5m settlement bill to HMRC, including a £1m fine

13 May 2024

Tax | HMRC targets savvy online sellers: what you need to do

As online platforms prepare for new disclosure rules on transactions, Danielle Ford, partner at haysmacintyre, warns that HMRC has already started compliance checks on the highest reported earners

13 May 2024

Tax | Loan charge group hits back at Huddleston over 'misleading' letter

The Loan Charge Action Group has strongly criticised the Treasury minister over a ‘deeply inadequate and misleading reply’ to a letter demanding answers on the loan charge crisis

7 May 2024

Tax

Personal Tax

HMRC

Image for ps3k cgt allowance puts crypto investors tax risk

Tax | £3k CGT allowance puts crypto investors at tax risk

Anyone buying crypto needs to keep up-to-date records of transactions to ensure they pay the right capital gains tax, especially as gains now have to be declared on tax returns

3 May 2024

Tax | CPD module: income tax rates and liability

In this month's exclusive Accountancy Daily CPD learning module, we explain the rates of income tax for UK for 2024-25 including thresholds, dividends and savings

2 May 2024

Tax

Personal Tax

Image for hmrc writes ps100k ps150k earners about tax return overhaul

Tax | HMRC writes to £100k-£150k earners about tax return overhaul

Anyone earning between £100,000 and £150,000 should have received a letter from HMRC warning them about significant changes to the rules on tax returns

2 May 2024

Tax | Non-doms: out with the old, in with the new

The new rules rely on the complex statutory residency test but there is a four-year planning window for non-doms under the foreign income and gains (FIG) regime, explain Charlotte Sallabank and Christy Wilson at Katten

2 May 2024

Tax | Tax traps for high earners removed from self assessment

Jennifer Collins, associate director at RSM considers the implications of the increase in the earnings income threshold to £150,000 for self assessment tax returns

1 May 2024

Tax | HMRC wrongly refunding some voluntary Class 2 NIC payments

A delay by HMRC in processing self assessment tax returns for self employed taxpayers has resulted in the refund of some Class 2 national insurance contribution (NIC) payments by mistake

30 Apr 2024

Tax | Paris hotel tax hike for Olympics

Visitors planning to head to Paris for this summer’s Olympics will see a threefold hike in the overnight tax charge for hotels

30 Apr 2024

Tax

Personal Tax

Image for ex man city footballer benjamin mendy settles ps710k tax bill

Tax | Ex Man City footballer Benjamin Mendy settles £710k tax bill

Following the threat of bankruptcy over an unpaid tax bill, former Manchester City footballer has settled the total amount with HMRC

30 Apr 2024

Tax

Personal Tax

Image for qa tax implications when working abroad half year

Tax | Q&A: tax implications when working abroad half of year

In this week’s Q&A, Julian Payne, tax adviser at Croner-i, explains what expenses can be claimed when a self employed person spends some of their year running a business overseas

30 Apr 2024

Tax | HMRC online tool to check national insurance shortfalls

Anyone with gaps in their national insurance payments dating back to 2006 will be able to check online using a new HMRC tool to see if they need to make additional contributions

29 Apr 2024

Tax

Personal Tax

Tax Planning

Image for hmrcs changes salaried member rules llps

Tax | HMRC’s changes to salaried member rules for LLPs

Amendments to HMRC guidance for salaried LLP members when altering their capital contributions raise some red flags, warns Mike Hodges, tax partner at Saffery

29 Apr 2024