Personal Tax

Case Reports

Image for shipping magnate loses ps851k appeal over tax bonuses

Tax | Shipping magnate loses £851k appeal over tax on bonuses

A Hong Kong based billionaire who paid bonuses to staff from his own funds has lost an appeal over whether the payments were subject to income tax and National Insurance

13 Dec 2023

Tax | Pension tax relief hits record £51bn

The amount of annual pension tax relief has exceeded £50bn for the first time, an increase of £14bn in five years

11 Dec 2023

Image for hmrc slashes access helplines seven weeks

Tax | HMRC slashes access to helplines for seven weeks

In the busiest period of the tax year, HMRC plans to significantly reduce access to the self assessment helpline, prioritising only complex queries from Monday

8 Dec 2023

Tax | HMRC stops sending self assessment repayment letters

HMRC will no longer send out letters in the post advising taxpayers of self assessment repayment notifications, claiming they simply caused confusion

8 Dec 2023

Tax | Selling an unwanted Christmas jumper? Watch out for tax trap

Digital platforms like eBay, Vinted and Airbnb will have to report seller data to HMRC from January giving the tax authority access to unparalleled information, warns Miruna Constantin, tax manager at RSM

6 Dec 2023

Image for how handle tax returns deceased individuals

Tax | How to handle tax returns for deceased individuals

HMRC has issued advice for agents on how to complete self assessment tax returns for deceased persons and estates during the administration period

6 Dec 2023

Image for portugal sets end date non residency tax regime

Tax | Portugal sets end date for non-residency tax regime

The Portuguese government has confirmed the non-habitual residency (NHR) tax regime will end in December 2024 for those who have already started their application

6 Dec 2023

Tax Planning

Image for quarter income tax paid only 100000 people

Tax | Quarter of income tax paid by only 100,000 people

Almost a quarter of all income tax and capital gains tax was paid by just 100,000 individuals who shelled out a total of £55.9bn, despite representing only 0.3% of taxpayers

4 Dec 2023

Tax Planning

Image for crypto investors warned disclose unpaid tax

Tax | Crypto investors warned to disclose unpaid tax

HMRC has given crypto investors the opportunity to voluntarily disclose unpaid tax going back four years on their cryptocurrency and non-fungible token (NFT) transactions

30 Nov 2023

Tax | Taxpayers urged not to call HMRC helplines

HMRC is calling on anyone completing self assessment tax returns to avoid phone calls about basic questions

29 Nov 2023

Tax | Q&A: tax liability for directors working overseas

In this week’s Q&A, we examine the tax and dividend considerations when a non-resident director is working overseas on a UK contract

28 Nov 2023