Tax | Small business tax debt grows, warns HMRC chief

The level of small business tax debt is growing as companies struggle with economic downturn, HMRC chief tells MPs

26 Jan 2023

Tax

HMRC

Tax Compliance

Politics

Tax | Self assessment puts accountants under pressure

Accountants are being forced to turn away thousands of taxpayers who are yet to file their self assessment tax returns, despite the deadline being less than a week away

25 Jan 2023

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Chattels, wasting assets and capital gains tax

Certain assets such as plant, watches and paintings valued below £6,000 are exempt from capital gains tax but there are some restrictions, explains Chris Thorpe, technical officer at CIOT

25 Jan 2023

Tax

Business Tax

Personal Tax

Tax Compliance

Tax Planning

Tax | HMRC wait time hits 27 minutes for tax return calls

Following criticism of long wait times for taxpayers to get through to call centres, HMRC admitted that the average wait time has doubled to 27 minutes, but said home workers did not affect performance

25 Jan 2023

Tax

Personal Tax

HMRC

Tax Compliance

Tax | HBOS and Lloyds win £10m VAT interest case

HBOS and Lloyds Banking Group have won an appeal at the Upper Tribunal over a demand for VAT interest repayments following a legislative error

25 Jan 2023

Tax

VAT

HMRC

Tax Compliance

Law and Regulation

Tax | Top tips for filling your tax return

Dawn Register, tax partner at BDO has put together 12 top tips to help you complete your tax return in time for 31 January deadline

24 Jan 2023

Tax

Personal Tax

Tax Compliance

Tax Planning

Tax | 3.4m still need to file tax return

Around 3.4 million people are yet to file their self assessment tax returns, despite there being less than a week to go before the deadline

24 Jan 2023

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Call for tax on super rich to tackle inequality

The global super rich should be charged taxes as high as 70% to help tackle growing inequality, according to economist Joseph Stiglitz

24 Jan 2023

Tax

Business Tax

Personal Tax

International Tax

Tax Compliance

Tax | PM orders ethics probe into Zahawi’s tax affairs

Rishi Sunak has asked his independent ethics adviser to investigate former chancellor Nadhim Zahawi’s tax affairs as ‘questions need answering’

23 Jan 2023

Tax

Business Tax

HMRC

Tax Compliance

Politics

Tax | Marketing agency loses £283k VAT appeal

A marketing company has lost a First Tier Tribunal (FTT) appeal over VAT assessments and penalties

23 Jan 2023

Tax

VAT

HMRC

Tax Compliance

Tax | Half of sole traders yet to file self assessment returns

More than half of sole traders have not started their self assessment tax returns with only 11 days to go until the filing deadline

20 Jan 2023

Tax

Personal Tax

HMRC

Tax Compliance

Companies

Accountancy Firms

Tax | Doug Barrowman tax firm flagged for avoidance schemes

AML Tax has been called out by HMRC for three tax avoidance schemes it is offering taxpayers

20 Jan 2023

Tax

HMRC

Tax Compliance

Called to Account

Tax | Top rate Welsh taxpayers pay 40% of income tax

The amount of income tax raised from Welsh taxpayers increased by £216m to £2.3bn for tax year 2021-22, up from £2.1bn

20 Jan 2023

Tax

Personal Tax

HMRC

Tax Compliance

Tax | ICAEW calls for overhaul of P11D process

ICAEW’s Tax Faculty has called on HMRC to improve P11D forms to make it easier for employers to complete

20 Jan 2023

Tax

Business Tax

Employment Tax

HMRC

Tax Compliance

Tax | HMRC defends position on loan charge suicides

The controversial loan charge has been linked with 10 suicides, with two investigations currently ongoing, according to HMRC chief executive

19 Jan 2023

Tax

Personal Tax

HMRC

Tax Compliance