In a statement to MPs today, new financial secretary to the Treasury Lucy Frazer has confirmed that the introduction of Making Tax Digital (MTD) for income tax will be postponed by a year The quarterly digital reporting for landlords and the self employed was due to...
Read MoreThe launch of a social care levy from 2022 will see taxpayers facing a 1.25% tax charge under government plans, while dividend tax will also rise. From April 2022, the government will introduce a new, UK-wide 1.25% Health and Social Care Levy, ringfenced for health and...
Read MoreFive UK tax and accounting bodies have urged the government to delay reforms to the tax system which would affect how self-employed people and businesses report their profits In a letter sent to Treasury financial secretary Jesse Norman, ICAEW, the Institute of Chartered Accountants of Scotland...
Read MoreThere are two late payment penalties that may apply; a first penalty and then an additional or second penalty, with an annualised penalty rate. All taxpayers, regardless of the tax regime, have a legal obligation to pay their tax by the due date for that...
Read MoreHMRC have updated their guidance on checking whether contact from more than one communication method is genuine. Details of research on detached workers and social security has been added. Further details can be found at Check genuine HMRC contact that uses more than one communication method....
Read MoreNearly 1.8 million married couples and those in civil partnerships are using Marriage Allowance to save up to £252 a year in Income Tax, HM Revenue and Customs (HMRC) has announced. Summer has always been a popular season for weddings, and newly married couples or those...
Read MoreHM Revenue and Customs (HMRC) received 1,773 online tax returns on Christmas Day – a 13 per cent increase on last year’s total of 1,566. HMRC’s Christmas data logs reveal the busiest time for online returns on 25 December was between midday and 1pm, when 148...
Read MoreHorsebox owners dishonestly claiming horseboxes worth hundreds of thousands of pounds as company expenses are set to be the subject of HM Revenue & Customs investigation, as it continues its clampdown on tax evasion. Top 50 firm UHY Hacker Young believes HMRC suspects some farmers and...
Read MoreSolicitors are being given the chance by HM Revenue and Customs (HMRC) to bring their tax affairs up to date or face tougher penalties, as part of a new tax campaign. The Solicitors’ Tax Campaign is the latest voluntary, intelligence-led disclosure opportunity giving specific groups of taxpayers...
Read MoreHMRC has “stopped” issuing income tax repayments after a leaked email revealed that end of year tax reconciliations for thousands of taxpayers may have been calculated wrongly, the Telegraph reported this morning. An HMRC spokesman told AccountingWEB that the process is “continuing as normal”. But...
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