300,000 file tax returns in the first week of the tax year
Almost 300,000 self assessment taxpayers filed their return in the first week of the new tax year, HMRC has revealed. The early filers were almost 10 months ahead of the…
Tax
Taxpayers spend total of 800 years waiting to speak to HMRC
UK taxpayers spent the equivalent of 800 years on hold to HMRC in 2022/23, according to a report published by the National Audit Office (NAO). The report found that funding…
HMRC error means self-employed workers could lose out on state pension
An HMRC error could mean that some low-income, self-employed workers lose out on their entitlement to National Insurance-related benefits like the state pension, warns the Low Incomes Tax Reform Group…
Next government will need to build trust between HMRC and self-employed
The next government must take a direct hand in rebuilding trust between HMRC and the self-employed, according to the Association of Independent Professionals and the Self-Employed (IPSE). The call is…
More than seven million adults still struggling to pay bills, finds FCA
Around 7.4 million people in the UK struggled to pay a bill or a credit repayment in January, according to the Financial Conduct Authority (FCA). The figure is lower than…
HMRC launches online voluntary NICs payment service
HMRC has launched a new online voluntary NICs payment service. The government says the new service will make it easier for customers to check for and fill any gaps in…
HMRC clarifies tax rules for WFH commuting
HMRC has updated guidance on when tax relief is available on travel expenses for staff who work from home. The tax authority is responding to the growth of flexible or…
Government urged to implement reforms to R&D tax system
The government is being urged to implement reforms to the Research and Development (R&D) tax relief system in order to avoid hurting small companies by the Suffolk Chamber of Commerce….
IR35 reforms taking their toll on skilled contractors
One in ten highly skilled freelancers are currently out of work due to the impact of reforms to IR35 tax legislation, according to research published by the Association of Independent…
MTD for Income Tax pilot now live
HMRC’s pilot scheme for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is now live. Accountants, agents and individuals are able to sign up to the pilot…
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