HMRC

Survey finds 70% of tax professionals stalling on Making Tax Digital for VAT

A recent Thomson Reuters survey of UK tax professionals’ attitudes and readiness for Making Tax Digital (MTD) for VAT has revealed companies are still unsure how to prepare for the deadlines. MTD for VAT is the latest step in HMRC’s aim to move towards a digital relationship with customers and become “the most digitally advanced tax administration in the world”.

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Timing is everything for new residential property rules

Owners of residential property in the UK will have to think carefully about the timing of any sale or gift of their property, the Association of Taxation Technicians (ATT) is warning. This is because from 6 April 2020 it is likely that UK resident owners of UK residential property who realise a gain on disposal that is subject to tax,

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Christmas bonus for millions of workers

Millions of employees in the service industry could collect an early Christmas present from HMRC. Workers including nurses, hairdressers, construction workers and those working in retail and food sectors may be able to claim rebates. Staff in these types of roles sometimes have to dip into their own pockets to pay for work-related expenses like car mileage, replacing or repairing

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Changes to accessing HMRC services

If you or your firm uses ‘silent login’ or automated background logins to access HMRC services then urgent action is required if you want to retain this functionality over the next few months. HMRC are making changes that will affect how some agents access Government Gateway services. The changes will affect those agents who have their own systems that use

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HMRC unable to hit tax credit fraud target

HMRC is struggling to control tax credit fraud and the “cracks are showing”, MPs have said. Error and fraud in tax credits cost the taxpayer £1.3bn in 2016-17 alone, and the department expects the rate of overpayments to grow further, the Public Accounts Committee found. The committee said it was “disappointing” that HMRC says it will be unable meet its

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Making Tax Digital for VAT update

As the planned 1 April 2019 implementation date for making Tax Digital for VAT (MTDfV) gets closer, HMRC has confirmed that mandatory use of MTDfV by businesses with ‘more complex requirements’ will be deferred until 1 October 2019 to ensure there is sufficient time to test software for such businesses. Those who will not be obliged to use MTD until

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HMRC: Making Tax Digital VAT Service scheduled maintenance

HMRC will shortly be undertaking scheduled maintenance to the Making Tax Digital (MTD) VAT service to enable them to release additional functionality. As a result they will need to close access to the service from 17:00 on Friday 30 November until 11:00 on Tuesday 4 December. During the scheduled maintenance period, there will be no access to any of the

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180,500 new homeowners benefit from stamp duty tax relief

More than 180,500 first-time buyers have pocketed the cash they would have spent on Stamp Duty Land Tax (SDLT) for their new homes, statistics published by HMRC show. The money-saving tax relief, known as First Time Buyers Relief (FTBR), was introduced on 22 November 2017, and new figures released on the eve of the one-year anniversary show that the estimated

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HMRC Talking Points

HMRC’s regular Talking Points webinars provide information, guidance and tips to help you understand tax issues. Forthcoming ones include: Submission of SA returns affected by exclusions Tuesday 27 November 11am to midday: This webinar will discuss 2017-18 SA return online submission issues and resulting exclusions. HMRC will explain the process for filing online and allowing paper tax return submissions after

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