Scams warning issued to 12 million self assessment taxpayers
Self assessment taxpayers must be on the lookout for scam texts, emails and phone calls from fraudsters, HMRC was warned. HMRC has received more than 130,000 reports about tax scams…
Firms looking to Autumn Statement for help with rising operating costs
Small firms will look to the upcoming Autumn Statement for signs that the government understands their operating concerns, says the Federation of Small Businesses (FSB). The business group said that…
HMRC urges nearly 430,000 young people to claim Child Trust Fund cash
HMRC has urged almost 430,000 young people with an unclaimed Child Trust Fund (CTF) to claim their cash. CTFs are tax-free savings accounts that were created for every child born between…
HMRC should increase rewards for whistleblowers, says law firm
HMRC should increase the rewards it pays out to whistleblowers in line with the US system, according to law firm RPC. The tax authority paid out over £509,000 to individuals providing…
Another million savers to be hit with tax on interest
The frozen Savings Allowance combined with rising interest rates will push over one million taxpayers into paying tax on their savings this tax year, according to research by investment platform…
HMRC increases late payment interest rate to 7.5%
HMRC has increased interest rates with late payment bills charged 7.5% from 11 July, the highest rate since 2001. The move follows the Bank of England’s June increase in the base…
HMRC gives £1.8 million a year to charities to help excluded taxpayers
The voluntary and community sector will be able to apply for grants from HMRC to support their work with taxpayers who need extra assistance with their tax affairs. Eligible organisations need…
HMRC clamping down on landlords with undeclared income tax
HM Revenue and Customs (HMRC) continues to increase its focus on undeclared income tax from buy-to-let landlords, with an 83% rise in cases during the 2022/23 tax year. The Let…
Why wait to file your Tax Return?
The deadline for filing your 2023 Self Assessment Tax Return online and to pay any tax you owe is 31 January 2024, however you don’t have to wait until then…
MTD expected to cost £1 billion more than originally forecast
A report published by the National Audit Office (NAO) has found that HMRC’s Making Tax Digital (MTD) initiative is expected to cost around £1 billion more than its initial £226 million…
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