Tax | HMRC drops two R&D appeals involving £3.8m in tax

HMRC has withdrawn two major research and development (R&D) appeals after losing the cases at the First Tier Tribunal

20 Dec 2024

Tax

Business Tax

HMRC

Tax | Tax receipts soar by £15bn in one year after CGT rout

The tax take from April to November hit a record high of £537bn, with the latest figures reflecting huge increase in capital gains tax take

20 Dec 2024

Tax

HMRC

Tax | Painter decorator wins £430k tax appeal against HMRC

A painting and decorating business has won an appeal at the Upper Tribunal against HMRC over an £800,000 loan made to a director through an employee benefit trust

19 Dec 2024

Tax

Business Tax

HMRC

Case Reports

Tax | John-Paul Marks to replace Jim Harra at HMRC

A career civil servant and head of the civil service in Scotland, John-Paul Marks, is set to take over as head of HMRC when Jim Harra retires in April

19 Dec 2024

Tax

HMRC

Tax | UK businesses using tax havens plummets by 43%

The number of UK businesses using tax havens in the Caribbean and closer to home has halved as HMRC gets access to more data on whether they are genuinely operating

18 Dec 2024

Tax

Business Tax

International Tax

HMRC

Tax Compliance

Tax | ‘Decades old’ IT system damaging HMRC

A legacy IT system, under resourcing and too much reliance on paper-based processes is contributing to service decline at HMRC, warns ABAB

17 Dec 2024

Tax

Making Tax Digital

HMRC

Tax | Bernie Ecclestone’s lawyer owes £4m to HMRC

The former solicitor to Bernie Ecclestone failed to pay tax on almost £40m of income on the latest HMRC’s deliberate tax defaulters which features a record £52m of unpaid tax and penalties

13 Dec 2024

Tax

HMRC

Tax Compliance

Business | R&D tax relief for SMEs slumps by £1bn

The amount paid out to SMEs in research & development (R&D) relief has been declining since 2021/22 as less companies attempt to claim the relief

12 Dec 2024

Business

Companies

Tax

Business Tax

HMRC

Tax | Crypto investments, gains and tax liability

With the hype in crypto and gains of many multiples on investments, reporting on tax returns is vital to avoid a run-in with HMRC, explains Danielle Ford, partner and head of tax disputes and resolutions at HaysMac

11 Dec 2024

Tax

Personal Tax

HMRC

Tax Compliance

Tax Planning

Tax | Chancellor has ‘so far refused to engage’ farmers on IHT

The head of National Farmers Union has told MPs the Chancellor Rachel Reeves has ‘so far refused to engage farmers’ although a meeting with the PM has taken place

11 Dec 2024

Tax

Property Tax

Inheritance Tax

HMRC

Tax | Wrap up child benefit claims for baby’s first Christmas

HMRC has issued a reminder that new parents who claim child benefit online could get their first payment in time for their baby’s first Christmas

11 Dec 2024

Tax

Personal Tax

HMRC

Tax | HMRC could not ‘articulate’ why tax was owed by mother

Confusing letters from HMRC caused a taxpayer ‘significant distress’ over a number of years with HMRC officer criticised for failing to give her clear calculations for tax owed

10 Dec 2024

Tax

Personal Tax

HMRC

Case Reports

Tax | HMRC clarifies VAT penalties when payment 31 days late

HMRC has updated the guidance about how to settle VAT payments which are overdue by 31 days or more when penalties come into play

10 Dec 2024

Tax

VAT

HMRC

Tax Compliance

Tax | Frankie Dettori was the anonymous taxpayer

Following a protracted argument in the tax tribunal, jockey Frankie Dettori has lost his attempt to retain his anonymity over tax dispute

9 Dec 2024

Tax

Personal Tax

HMRC

Case Reports

Tax | Residential stamp duty tax take slumps 27%

House prices are rising to record highs as many rush to get on the housing ladder before tax changes in April, but revenue from stamp duty land tax (SDLT) take has already taken a hit

9 Dec 2024

Tax

Property Tax

HMRC