Tax

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Workers could be missing out by not checking personal tax accounts

May 16, 2019

According to the latest research from the Post Office, just under half (46 per cent) of workers have never checked their personal tax accounts. In 2015, HM Revenue & Customs (HMRC) introduced the Personal Tax Account to try and make it ...

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HMRC reveals inheritance tax payments have hit a record high

Apr 29, 2019

According to data released by HM Revenue & Customs (HMRC) inheritance tax (IHT) payments have hit a record high. In the 2018-19 tax year, IHT receipts grew by £160 million to a total of £5.4 billion. During the next two years increases ...

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Making tax digital is live today, yet one million businesses are not registered

Apr 01, 2019

As of today, UK based businesses that have a taxable turnover above the VAT threshold of £85,000 will be required to switch to the new digital tax service to report earnings and calculate VAT owed. HM Revenue and Customs (HMRC) had previously ...

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HMRC reveals MTD registration takes seven working days

Mar 21, 2019

HM Revenue & Customs (HMRC) has warned that registration for Making Tax Digital (MTD) for VAT will take up to seven days to complete and will not be a real-time service. In the latest piece of guidance for businesses who need ...

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Many businesses unaware of the criminal offences associated with tax evasion

Mar 18, 2019

Three-quarters of businesses are unaware of the corporate criminal offences relating to activity which is seen to facilitate tax evasion. On 30 September 2017, the Criminal Finances Act was introduced; which meant companies and partnerships can be found liable for failing ...

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Shakira to face tax fraud accusation in Spanish court

Mar 04, 2019

The Colombian singer, Shakira whose estimated wealth is £176 million, is being investigated on suspicion of committing six separate counts of tax fraud against the Spanish Treasury totalling more than £12.5 million (€14.5 million). Consequently, in June, Shakira is set to ...

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Surplus in CGT receipts boosts UK Government’s finances

Feb 25, 2019

According to the latest figures released by Office for National Statistics, income from taxes surpassed public spending by £14.9 billion, which has resulted in the Government’s largest January surplus since records began in 1993. Compared to 2018, there has been a ...

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MP’s calling for more to be done to help the high street

Feb 21, 2019

MP’s are backing calls for changes to the current tax regime in a bid to halt the current decline in British high streets and town centres and allow them to flourish in the future. A report published by the Housing, Communities ...

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ICAEW reveal valentine’s tax benefits

Feb 11, 2019

It may not be the most romantic reason to propose but with valentine’s day just a few days away the ICAEW are highlighting the tax benefits of getting married or entering a civil partnership. For example, as a wedding gift, each ...

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Record number of Self-Assessment tax returns filed by the deadline

Feb 04, 2019

HM Revenue and Customs (HMRC) has revealed that a total of 93.68 per cent of Self-Assessment tax returns were filed by the deadline. This equated to a record number of 11.5 million taxpayers submitting their 2017/18 tax returns by 11:59 pm ...

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