Personal Tax

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Tax | Property owners lose £63k capital gains tax appeal

A married couple has lost an appeal over a capital gains tax demand issued by HMRC for £63,500 as their tax agent did not understand basics of capital gains tax

16 Aug 2023

Tax | HMRC tells accountants to finalise provisional SA returns

In the latest nudge campaign, HMRC is writing to tax agents and accountants warning them to update provisional submissions on clients’ self assessment returns even though the deadline is five months away

16 Aug 2023

Tax | Tax-free childcare cost £53.6m in June

Families claimed £53.6m in government funded tax-free childcare in June 2023, up £12m on the previous year

16 Aug 2023

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Personal Tax

HMRC

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Tax | Q&A: inheritance tax on gift from non-resident parent

In this week’s Q&A, Kiya Jacobs, tax advice consultant at Croner-i, explains the inheritance tax implications of a gift from a non-resident parent

15 Aug 2023

Tax | Student loan interest rate up to 7.3%

Student loan repayment interest will revert to an RPI plus 3% increase from December and the rate will rise to 7.3% next month

15 Aug 2023

Tax | Personal savings allowance: tax tips

As interest rates rise, more taxpayers risk paying tax on savings income due to frozen thresholds but there are ways to mitigate tax bills, explains Laura Suter, head of personal finance at AJ Bell

10 Aug 2023

Tax | Tax on savers set to rocket as 2.7m exposed

Rising interest rates and frozen tax thresholds will push over one million taxpayers into paying tax on their savings this tax year

9 Aug 2023

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Personal Tax

Tax Planning

Image for ebay trader loses ps28k tax dispute

Tax | eBay trader loses £28k tax dispute

An online seller has been ordered to pay £28,408 to HMRC after a tribunal ruled that he had deliberately filed inaccurate tax returns from selling Apple products and cassettes on eBay

7 Aug 2023

Tax | Sign up for our inheritance tax planning webinar

Inheritance tax planning is something all accountants in practice must be on top of so register for our webinar to brush up on your knowledge

4 Aug 2023

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Personal Tax

Tax Planning

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Tax | Capital gains tax raises record £16.7bn

A record £16.7bn in capital gains tax was raised in the last tax year with a sharp rise in the number of people selling residential property

3 Aug 2023

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Personal Tax

HMRC

Tax | HMRC to appeal Sky commentator £695k IR35 case

Following its defeat over a Sky rugby commentator’s employment status, HMRC is appealing the ruling at the Upper Tribunal

3 Aug 2023

Tax | Irish based taxpayer loses £3.1m residency tax case

HMRC has won a dispute at the Upper Tribunal about whether a taxpayer was a UK resident for tax purposes, and so was liable to pay £3.1m in tax

2 Aug 2023

Tax | HMRC targets non-residents over Covid-19 tax status

HMRC is closely scrutinising claims made by non-UK tax resident taxpayers that lockdown rules during the coronavirus pandemic prevented their departure from the UK, warn Matt Taylor and Amy Rengger of RSM

2 Aug 2023

Tax | Q&A: BPR on gift of shares within seven years of death

In this week’s Q&A, Croner-i tax adviser Marsha Haywood explains the tax implications of using business property relief as part of inheritance tax planning when transferring shares

1 Aug 2023

Tax | Taxpayer loses £420k case over tax domicile

A taxpayer has been ordered to pay £320,000 to HMRC after a First Tier Tribunal (FTT) ruled that he had failed to establish a domicile of choice in the US

1 Aug 2023

Tax | HMRC Pandora Papers investigations: what we know now

David Francis, partner, and Joe Burns, associate director, in Grant Thornton’s tax dispute resolution team examine HMRC’s investigation activity related to the revelations in the Pandora Papers and how their approach will shape future compliance strategies

28 Jul 2023

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Tax Services

Latest news

Tax | Property owners lose £63k capital gains tax appeal

Tax | HMRC tells accountants to finalise provisional SA returns

Tax | Tax-free childcare cost £53.6m in June

Tax | Q&A: inheritance tax on gift from non-resident parent

Tax | Student loan interest rate up to 7.3%

Tax | Personal savings allowance: tax tips

Tax | Tax on savers set to rocket as 2.7m exposed

Tax | eBay trader loses £28k tax dispute

Tax | Sign up for our inheritance tax planning webinar

Tax | Capital gains tax raises record £16.7bn

Tax | HMRC to appeal Sky commentator £695k IR35 case

Tax | Irish based taxpayer loses £3.1m residency tax case

Tax | HMRC targets non-residents over Covid-19 tax status

Tax | Q&A: BPR on gift of shares within seven years of death

Tax | Taxpayer loses £420k case over tax domicile

Tax | HMRC Pandora Papers investigations: what we know now