Tax Compliance

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Image for making tax digital too complex first pilot says hmrc

Tax | Making Tax Digital too complex for first pilot, says HMRC

The head of HMRC told MPs that it had underestimated the complexity of Making Tax Digital (MTD), which had caused eight years of delay and a failed pilot scheme

20 Jun 2023

Tax | Cryptoasset regulation: a tale of two reports

A lack of action means UK regulators are playing catchup on how to control the rapidly growing crypto market, argues Ben Lee, crypto tax partner, Andersen LLP

20 Jun 2023

Tax

Personal Tax

Tax Compliance

Image for hmrc issues 18k penalties over careless errors

Tax | HMRC issues 18k penalties over careless errors

Careless mistakes made on tax returns resulted in penalties for 18,641 taxpayers last year while 1,025 fines were issued for deliberate errors

20 Jun 2023

Tax

Personal Tax

Tax Compliance

Image for post office horizon compensation not taxable

Tax | Post Office Horizon compensation not taxable

Postmasters caught up in the Horizon accounting scandal are to be paid millions of pounds in additional compensation to offset tax bills

19 Jun 2023

Tax

Personal Tax

Tax Compliance

Image for hospitality directors banned ps700k tax debt

Tax | Hospitality directors banned for £700k tax debt

A couple have been banned from being company directors for three years after owing more than £700,000 to HMRC

19 Jun 2023

Tax | HMRC expands use of COP9 tax investigations

HMRC plans to ramp up the use of Code of Practice 9 - COP9 – powers and has clarified the rules on how taxpayers can report fraud where they have failed to pay the correct tax

19 Jun 2023

Tax | Government is making tax system too complicated, say MPs

MPs have criticised the overcomplicated tax system as an obstacle to growth, creating compliance burdens, confusion and disincentives to grow a business, while abolition of the Office of Tax Simplification has made the situation worse

16 Jun 2023

Tax | Treasury minister defends HMRC service against claim it is a ‘mess’

MPs on the Treasury Committee put the financial secretary under pressure at a hearing about tax reliefs which kicked off with tough questions about HMRC service failures and customer service 'mess'

15 Jun 2023

Tax | Agent services account downtime extended

HMRC has confirmed that the agents services account online service will be unavailable for three days from 11.30am on Friday 23 June

15 Jun 2023

Tax | VAT penalties hit 66k in a single year

Businesses face increased risk of financial penalties for VAT errors driven by the complexity of the regime and HMRC’s return to a compliance focus, warns Xeinadin

15 Jun 2023

Tax

VAT

Tax Compliance

Image for when zero tax payable property income

Tax | When zero tax is payable on property income

Philip Spencer FCA, senior tax writer, Croner-i explains the scenarios where tax is not chargeable on residential and commercial property from primary residences to pension funds

14 Jun 2023

Tax | OECD releases tax reporting framework for crypto

The Organisation for Economic Cooperation and Development (OECD) has launched a new tax framework designed to tackle tax evasion by holders of crypto assets

14 Jun 2023