Tax Compliance

Latest news

Image for hmrc advisory fuel rates company car users 1 september 2023

Tax | HMRC advisory fuel rates for company car users from 1 September 2023

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 September 2023, increasing the rate for electric cars

29 Aug 2023

Tax | HMRC targets car dealers over £444m in unpaid tax

The automotive sector is facing HMRC scrutiny as dealerships across the UK are being investigated for suspected tax evasion

25 Aug 2023

Tax | Inheritance tax penalties soar to £2.3m

Bereaved families are paying higher inheritance tax penalties, with HMRC pulling in £2.28m in fines in the last tax year

25 Aug 2023

Tax

Personal Tax

Tax Compliance

Image for creative industry benefits ps166bn tax reliefs

Tax | Creative industry benefits from £1.66bn tax reliefs

A record amount of tax reliefs was paid out to companies in the creative sector as the figure shot up by £600m to £1.66bn as government considers overhaul of system

24 Aug 2023

Tax | Property trust loses £290k tax case

A property trust has lost a case at the Upper Tribunal over the use of a stamp duty land tax avoidance scheme which resulted in a £294,000 tax saving

23 Aug 2023

Tax | HMRC clarifies rules on basis period tax reporting

HMRC has issued guidance on changes to reporting income affecting self employed, sole traders and partnerships under the basis period tax year

23 Aug 2023

Tax | £40bn of property owned by offshore tax haven firms

UK property with a market value of £39.8bn is held by overseas companies not subject to domestic tax laws, according to research from Stripe Property Group

22 Aug 2023

Tax | Inheritance tax take hits £2.6bn

HMRC raked in £2.6bn in inheritance tax (IHT) receipts between April to July 2023, with receipts in June this year the highest monthly total on record

22 Aug 2023

Tax | Q&A: loan impairment

In this week’s Q&A, Croner-i tax adviser David Lawson talks about loan impairment and the implications if a loan is written off

22 Aug 2023

Tax

Business Tax

Tax Compliance

Tax | Tesco scraps VAT on period pants

Tesco has become the first retailer to cover the cost of VAT on its range of period underwear, following an industry push calling on the government to scrap the 20% tax that applies to the product

21 Aug 2023

Tax | One in 10 SMEs face £45k bill for overdue tax

Corporation tax and VAT are the biggest tax headaches for SMEs with more than 550,000 struggling to pay tax bills

17 Aug 2023

Tax | HMRC targets overseas property landlords

As part of a wide-ranging compliance campaign, HMRC has sent letters to non-resident corporate landlords who have failed to pay tax on commercial properties

17 Aug 2023

Tax | How to correct payroll mistakes for an earlier tax year

HMRC is reminding employers to make sure they are up to date with corrections to payroll mistakes related to an earlier tax year

17 Aug 2023

Tax

Employment Tax

Tax Compliance

Image for hmrc tells accountants finalise provisional sa returns

Tax | HMRC tells accountants to finalise provisional SA returns

In the latest nudge campaign, HMRC is writing to tax agents and accountants warning them to update provisional submissions on clients’ self assessment returns even though the deadline is five months away

16 Aug 2023

Tax | HMRC service levels: back to the future or déjà vu?

A challenging autumn may lie ahead as HMRC tries to sort out calamitous service issues, but this is not the first time that HMRC has faced such challenges, says Susan Ball, tax partner at RSM

16 Aug 2023

Tax

HMRC

Tax Compliance