Spring Statement is the time to act, says CBI
The Chancellor must act at the Spring Statement or risk the UK economy drifting backwards to low growth, warns the Confederation of British Industry (CBI). The Spring Statement will take…
Scam HMRC call reports drop by 97%
Reports of scam HMRC phone calls have fallen by 97% over the last 12 months, according to the latest figures from the tax authority. According to HMRC, reports of scammers impersonating HMRC…
Consumer group urges taxpayers to avoid using refund firms to claim tax rebates
Consumer group Which? has urged taxpayers to avoid using so-called ‘refund firms’ to claim tax rebates. Which? stated that people are losing hundreds of pounds by using third-party companies to…
HMRC waives self assessment penalties for one month to ease COVID-19 pressures
HMRC is waiving late filing and late payment penalties for self assessment taxpayers for one month. The measure will give those taxpayers affected by the coronavirus (COVID-19) extra time, if…
Self assessment taxpayers must declare COVID grants on tax returns
HMRC has reminded self assessment taxpayers to declare any COVID-19 grant payments on their 2020/21 tax return. According to HMRC, more than 2.7 million customers claimed at least one Self-employment…
HMRC issues warning on self assessment scam
HMRC has warned taxpayers completing their 2020/21 tax returns to ‘be on their guard’ and stay vigilant in regard to tax-related scams. Nearly 800,000 tax scams were reported in the…
Government sets out tax details on TAM Day
The UK government marked the inaugural Tax Administration and Maintenance (TAM) Day with the publication of 30 papers covering a wide range of tax issues. Chancellor Rishi Sunak made the…
IFS predicts millions to be worse off next year due to tax rises
The Institute for Fiscal Studies (IFS) has predicted that millions of people will be worse off in 2022 as a result of spiralling costs and tax rises. Responding to the…
Payment period on residential CGT is doubled
The government has doubled the period for filing and payment of capital gains tax (CGT) on residential property from 30 days to 60 days. The measure was announced by Chancellor…
National Insurance and dividend tax rises announced for social care reform
From April 2022, the government plans to create a new social care levy which will see UK-wide tax and National Insurance Contribution (NIC) increases. There will be a 1.25% increase…
End of content
End of content
