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Entrepreneurs’ Relief rules to be tightened - November 13, 2018
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Despite rumours that the Chancellor might scrap Entrepreneurs’ Relief (ER) all together in the Autumn Budget, Philip Hammond decided to retain the tax relief but has made fundamental changes to who qualifies… |
Research reveals Inheritance Tax hotspots across the UK - November 13, 2018
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New research has revealed that the affluent area surrounding Guildford in Surrey has the highest proportion of people paying Inheritance Tax (IHT). The study showed that 658 estates were subject to the… |
HM Revenue & Customs to review and rework some 2016-17 self-assessment tax returns following error - November 13, 2018
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The Chartered Institute of Taxation (CIOT) has warned that HM Revenue & Customs (HMRC) is to review and potentially rework as many as 30,000 self-assessment tax returns that were filed online for 2016-17… |
Payee names to be required for bank transfers in effort to combat fraud and errors - November 13, 2018
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From next year, payee names will be checked when making bank transfers in order to ensure that funds are being sent to the correct recipient. Currently, only the sort code and account number are checked… |
Public pilot of Making Tax Digital for VAT opens - November 13, 2018
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HM Revenue & Customs (HMRC) has opened a public pilot of Making Tax Digital (MTD) for VAT. The pilot is open to sole traders and companies that are up-to-date with VAT, who have not received a default… |
Sharp rise in number of taxpayer complaints about ‘scam’ HMRC emails - October 30, 2018
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New research carried out by consumer complaints website Resolver reveals that an ever-increasing number of taxpayers are being targeted by bogus emails purporting to be from HM Revenue & Customs (HMRC)…. |
HMRC ‘Childcare Choices’ campaign launched to raise awareness of tax-free childcare support - October 30, 2018
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HM Revenue & Customs (HMRC) is trying to encourage more parents to tap into financial support when they need a helping hand with their childcare responsibilities. This autumn, HMRC has launched a marketing… |
Parents earning more than £50,000 urged to watch out for High Income Child Benefit Charge - October 30, 2018
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Parents earning more than £50,000 are often hit with the High Income Child Benefit Charge (HICBC), which was introduced in 2013 and affects just over one million families in the UK. This kicks in if either… |
Record £5.2 billion Inheritance Tax take last year - October 30, 2018
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Official figures from HM Revenue & Customs (HMRC) show that bereaved families paid a record amount of £5.2 billion in Inheritance Tax (IHT) during the last tax year, which is a £400 million increase… |
Making pension contributions before the end of the current tax year - October 30, 2018
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The current tax year ends on 5 April 2019 and between now and then, each individual can make thousands of pounds worth of pension contributions which are eligible for substantial tax relief. Why should… |
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Jan
The House of Lords Economic Affairs Committee has criticised some of the powers …
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Jan
It should seem obvious whether an individual must submit a self-assessment tax …
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Autumn Budget 2018
The sun was already edging behind the London skyline by the time Chancellor Philip Hammond...
