New homeowners warned over tax refund claims
New homeowners are being warned about cold calls from rogue tax repayment agents advising them to make speculative Stamp Duty Land Tax (SDLT) refund claims, which could leave them with…
Tax
MTD for income tax pilot extended
HMRC is extending the pilot for Making Tax Digital for Income Tax Self Assessment (MTD ITSA) to more self-employed workers and landlords. From July, those taking part will be able to…
HMRC criticised over IR35 implementation
HMRC needs to demonstrate that off-payroll working rules, commonly known as IR35, can operate effectively and fairly in the real world, according to a report by the Public Accounts Committee (PAC)….
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 June 2022. The guidance states: ‘you can use the previous rates for up to one month…
Almost 66,500 filed self assessment returns on 6 April
Nearly 66,500 taxpayers filed their 2021/22 self assessment return on the first day of the new tax year, according to figures from HMRC. In recent years, there has been an increasing…
Chancellor announces windfall tax on energy firms
Chancellor Rishi Sunak will impose a windfall tax on energy firms alongside a package to help households with the cost-of-living crisis. Mr Sunak said a ‘temporary, timely, and targeted’ 25%…
New HMRC one-stop online shop provides taxpayers with tax relief information
HMRC has launched a new one-stop online shop designed to provide taxpayers with information on the tax reliefs and financial help available from HMRC. In a new section of the GOV.UK…
HMRC names avoidance scheme promoters for first time
HMRC has named two tax avoidance schemes and their promoters for the first time, advising anyone involved to withdraw from them as soon as possible to prevent the build up…
Student loan repayments for new borrowers to start at £25,000
The level at which students begin to pay back their loans will be lowered from £27,295 to £25,000 for new borrowers. From September 2023, the interest rate on student loans will also…
Business groups give mixed response to Spring Statement
The UK’s business groups gave a mixed response to Chancellor Rishi Sunak’s Spring Statement speech. Shevaun Haviland, Director General of the British Chambers of Commerce (BCC), said: ‘The Spring Statement…
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