Tax

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Last call on tax returns, says HMRC

Jan 28, 2020

HM Revenue & Customs (HMRC) is calling on taxpayers who have yet to submit their tax return to do so urgently. With less than a week to go until the 31 January 2020 deadline, three million taxpayers have reportedly yet to ...

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File tax return now to avoid “unnecessary penalties”, says HMRC

Jan 09, 2020

With less than one month to go until the Self Assessment deadline, HM Revenue & Customs (HMRC) is reminding taxpayers of their legal responsibilities. According to the regulator, around 5.4 million taxpayers have yet to file their tax return ahead of ...

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HMRC winding up petitions reach four year high

Jan 02, 2020

According to the latest official figures, the number of companies that were wound up last year following intervention from HM Revenue & Customs (HMRC) reached the highest level for four years. The clampdown on companies that go bust whilst owing a ...

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VAT

VAT receipts rise to record £133 billion

Dec 02, 2019

The amount of VAT collected in the last 12 months has risen to a record £133 billion, with a significant contribution from the retail and wholesale sectors. The latest figures from HM Revenue & Customs (HMRC) indicate that revenue has increased ...

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Fall in number of arrests for tax evasion

Nov 28, 2019

According to industry figures, the number of people arrested in the UK on suspicion of tax evasion has reached the lowest level for five years. The figures obtained by law firm RPC revealed that there were 782 arrests made during 2018/19, ...

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A tax guide for SMEs

Nov 25, 2019

According to accounting software provider, QuickBooks, over 50 per cent of UK small and medium-sized enterprise (SME) owners have made a mistake when filing their VAT returns, while just a quarter (25 per cent) feel confident that they have filed their ...

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Business owners hit by flooding granted “immediate relief” from business rates

Nov 18, 2019

Business owners hit by recent flooding will have “immediate relief” on their business rates, it has been announced. Confirming the move today, the Prime Minister said both businesses and households will be exempt from council tax and business rates. It comes after ...

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HMRC’s five money-saving tips

Nov 11, 2019

HM Revenue and Customs (HMRC) has highlighted five money-saving tips to help boost your finances. First-Time Buyers’ Relief If you are a first-time buyer you can claim First-Time Buyers Relief on your property purchase made on or after 22 November 2017. This means that you ...

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Electric car

Everything you need to know about electric company cars and tax

Nov 05, 2019

The number of electric cars in Britain recently hit the 200,000 milestone, indicating that the UK is finally coming round to the inevitable idea of an emission-free future. But why wait until then? Electric car owners are already experiencing the cost-saving ...

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Calls for HMRC to simplify the UK’s tax system for self-employed and landlords

Nov 04, 2019

A Government adviser has said that the UK’s tax system is causing issues for self-employed individuals and private landlords and therefore HM Revenue & Customs (HMRC) should consider simplifying it. Due to the rise of the gig economy, there are now ...

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