Tax Compliance

Latest news

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Tax | HMRC takes more than 40 days to respond to 13% of letters

HMRC is struggling to deal with more than one million letters a month and some taxpayers have to wait more than 40 days for replies by post

12 Jan 2024

Tax

HMRC

Tax Compliance

Tax | HMRC penalties rake in £851m

There has been a 25% increase in the amount of money raised from tax penalties, hitting a record £851m in an ‘easy win’ for HMRC

11 Jan 2024

Tax

HMRC

Tax Compliance

Tax | HMRC scoops up £345m in late payment interest charges

The amount of late payment interest paid to HMRC has soared in recent years to £345.8m, nearly three times higher than the £127m recorded in the year to October 2021

10 Jan 2024

Tax | HMRC warns crypto investors of tax risks

With self assessment returns due at the end of the month, HMRC is running a targeted campaign to remind crypto investors of their tax reporting obligations

9 Jan 2024

Tax | Late filing penalties waived for postmasters awaiting top-ups

Postmasters in the Horizon Shortfall Scheme (HSS) who do not receive top-up payments in time to file their tax return will not have to pay late filing or late payment penalties, and interest

9 Jan 2024

Tax | Chelsea apartment owners face £4.5m VAT bill

Reelreed, the owner of over 200 short-term let apartments in Chelsea, was ‘careless in submitting VAT returns’ and owes £4.5m as they were run like a hotel

8 Jan 2024

Tax

VAT

Tax Compliance

Image for tax tips when donating culturally significant assets

Tax | Tax tips when donating culturally significant assets

Vanina Wittenburg, senior associate at Hunters Law LLP, considers the options for donating important objects to the nation from gardens to textiles and jewellery, either during a taxpayer’s lifetime or on death, with an eye on effective tax planning

8 Jan 2024

Tax | Side hustle tax searches explode over 72hrs

The amount of people searching for information about ‘side hustle tax’ has increased by 1,415% due to concerns over HMRC online platform reporting rules

4 Jan 2024

Tax | Ireland introduces 15% corporate tax rate

The largest multinationals in Ireland will have to start paying corporate tax at 15%, marking a 2.5% increase on the current rate

3 Jan 2024

Tax | Child benefit claims go online in digital first

Child benefit claims can be made online for the first time since they were introduced in the 1970s, marking an end to paper applications

3 Jan 2024

Tax | Tougher side hustle tax rules come into force

Anyone selling goods through online platforms needs to make sure they keep within the £1,000 tax free limit as HMRC clamps down on tax abuse

2 Jan 2024

Tax | Filing deadlines: January - April 2024

Our handy guide to tax filing deadlines for changes to employee NICs and non-resident landlord reporting

2 Jan 2024

Tax

Tax Compliance

Tax Planning

Image for 4757 tax returns filed christmas day

Tax | 4,757 tax returns filed on Christmas Day

The number of individuals filing tax returns on Christmas Day has shot up to 4,757 with a 10% hike in taxpayers using the holiday period to complete tax admin

2 Jan 2024

Tax

Personal Tax

Tax Compliance

Image for bluecrest partners lose long running tax case

Tax | BlueCrest partners lose long-running tax case

The Court of Appeal has ruled that partners at BlueCrest Capital Management, one of the world’s largest investment firms, are liable to pay income tax on part of their remuneration

22 Dec 2023

Tax | Create breathing space for director loans under s455

Changing accounting year ends can delay the payment of section 455 tax charges on director loans, explains Andrew Marr, managing partner at Forbes Dawson

22 Dec 2023