Tax | HMRC dashboard flags scale of backlog handling enquiries

HMRC has launched a dashboard providing information about the time it is taking to deal with enquiries and settle tax repayments, with delays of up to nine months in some instances

30 Jun 2022

Tax

HMRC

Tax Compliance

Tax | Q&A: eligibility for EIS and SEIS tax relief

In this week’s Q&A, Croner-i’s Alexander McCarthy, considers whether enterprise investment scheme (EIS) tax relief can be used for a business which has only been trading for less than a year 

28 Jun 2022

Tax

Business Tax

Tax Compliance

Tax | Scotland needs to redesign tax system

The Scottish tax system needs a major overhaul, rather than simply tinkering with the rates of current taxes, including a potential land tax to replace stamp duty

28 Jun 2022

Tax

Personal Tax

Tax Compliance

Tax | Deadline to register trusts requires mandatory compliance

As the September deadline to register trusts approaches, it is important to ensure that all UK express trusts and some overseas trusts are compliant, warns Axiom 

27 Jun 2022

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Is it really fraud? HMRC’s current R&D campaign

HMRC is taking tough action on research and development (R&D) tax relief claims, sending letters to thousands of taxpayers accusing them of fraud. Neil Tipping, VIP senior tax consultant at Croner-i, says this is excessive use of powers

27 Jun 2022

Tax

Business Tax

HMRC

Tax Compliance

Tax | HMRC raises interest rates on late tax bills from 5 July

Following the increase in the Bank of England base rate to 1.25% earlier this week, HMRC has confirmed that it will raise interest rates on late tax bills by a further 0.25%

24 Jun 2022

Tax

HMRC

Tax Compliance

Tax | Small businesses worst offenders across £32bn tax gap

The estimated tax gap for the 2020 to 2021 tax year is 5.1% with small businesses accounting for nearly half of unpaid tax

23 Jun 2022

Tax

HMRC

Tax Compliance

Tax | Corporation tax relief for expenditure on buildings

Craig Flynn, VIP R&D consultant at Croner-i, explains how to claim corporation tax relief for expenditure on buildings, with tips and advice on how to overcome perceived difficulties in the claim process

23 Jun 2022

Tax

Business Tax

Tax Compliance

Tax Planning

Tax | Year-end expenses and benefits reporting — tips and advice

As the 6 July deadline for year-end expenses and benefits reporting via P11D approaches, Caroline Harwood, partner at BDO, sets out the key issues to consider when filing, particularly with covid exemptions now removed

22 Jun 2022

Tax

Employment Tax

Tax Compliance

Tax | Q&A: company residency and corporation tax

In this week’s Q&A, Croner Taxwise tax adviser Suzanne Rowland explains corporation tax liability when a company was first UK registered but then relocated to Spain

21 Jun 2022

Tax

Business Tax

Tax Compliance

Tax | 220k exporters need to sign up to single customs platform

Businesses are being urged to move onto HMRC's new single customs platform before the deadline of 30 September 2022 as the CHIEF system will be closed

20 Jun 2022

Tax

Business Tax

HMRC

Tax Compliance

Tax | HMRC ramps up checks on R&D tax relief claimants

HMRC is strengthening checks on research and development (R&D) tax claims to crack down on abuse of the reliefs

17 Jun 2022

Tax

Business Tax

HMRC

Tax Compliance

Tax | Tax bodies highly critical of HMRC performance

HMRC service levels have come under criticism from accountants and tax agents as turnaround times fall below expectations and waiting time on calls is still too long

17 Jun 2022

Tax

HMRC

Tax Compliance

Tax | HMRC targets non-doms with letter campaign

Non-doms will be in the spotlight this month as HMRC starts sending letters to accountants, tax agents and taxpayers about remittance basis charges

16 Jun 2022

Tax

Personal Tax

HMRC

Tax Compliance

Tax Planning

Tax | Penalties for Making Tax Digital harsh and outdated

The Association of Taxation Technicians (ATT) is urging the government to rethink the outdated penalties for not complying with Making Tax Digital (MTD) for VAT

16 Jun 2022

Tax

Making Tax Digital

HMRC

Tax Compliance