HMRC urges self assessment taxpayers to spread the cost
HMRC is reminding people who pay tax by self assessment of the opportunity to spread the cost of their bill with the Time to Pay facility. More than 15,000 self…
Scams warning as self assessment deadline looms
HMRC is warning of scam attempts targeting self assessment taxpayers in the run up to the 31 January deadline. Last year, concerned taxpayers reported nearly 150,000 scam referrals to HMRC….
HMRC late payment interest cut by 0.25%
HMRC has reduced late payment and repayment interest rates following the cut to the base rate. The Bank of England cut the base rate to 4.75% on 7 November, the…
HMRC warns landlords to disclose earnings
HMRC has warned landlords to disclose their earnings on self assessment tax returns. The tax authority has clarified the guidance on who can participate in the Let Property Campaign, which…
HMRC agree to make things easier with paper tax returns
HMRC’s decision to make it easier for taxpayers to file a paper tax return has been welcomed by the Low Incomes Tax Reform Group (LITRG). With less than a month…
IPSE calls for fairer off-payroll rules in Budget
IPSE calls for fairer off-payroll rules in Budget The Chancellor should use her Autumn Budget to make off-payroll working rules ‘fairer and more effective’, according to the Association of Independent Professionals…
Reforms to IHT, CGT and NI ‘could raise over £20 billion a year’
The Resolution Foundation has suggested that reforms to inheritance tax (IHT), capital gains tax (CGT) and national insurance (NI) could raise more than £20 billion a year. The Foundation said…
HMRC urged to take action to defuse side hustle time bomb
HMRC has been urged to defuse a tax bombshell threatening online traders, by the Low Incomes Tax Reform Group (LITRG). The LITRG, which is part of the Chartered Institute of…
£5.5 billion lost as a result of tax evasion
An estimated £5.5 billion was lost due to tax evasion during 2022/23, according to a report published by the National Audit Office (NAO). The NAO stated that ‘significant weaknesses’ in government systems…
UK has record number of self-employed workers aged 60 or over
The number of self-employed people aged 60 or over has reached a record level, according to analysis by Rest Less. These numbers have increased by over a third in the…
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