HMRC

HMRC Agent Update – Issue 70

HMRC’s Agent Update 70 is available now and contains a variety of articles and updates. This latest issue features a new section on EU Exit, with articles on preparing businesses for EU Exit and training and support for customs intermediaries. Other highlights include articles about: disguised remuneration loan charge reporting requirements and the need to take action to settle clients’ schemes by

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HMRC warns of email scam promising tax refunds

Criminals are targeting self assessment taxpayers, emailing them saying they are entitled to tax refunds and asking for bank details to transfer the money. The scam phishing emails are being sent from verio.net domain names and contain endless hash tags and requests for bank information, addressed to ‘user HMRC taxpayer’. However, they do cite a random, fabricated UTR number –

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Ditch paper receipts – as VAT goes digital

Senior Decision Makers in finance and accounting admit to not being the best at keeping receipts, as 65% confess to having lost them, according to a new YouGov poll out. The poll run by YouGov for HM Revenue and Customs (HMRC) also found that 92 percent of  senior decision makers personally bank online, almost two thirds (62%) support all tax

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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: Employers – what’s new for 2019-20? Join this live webinar for an overview of ‘what’s new’ – including the new rates for National Insurance, National Living Wage/National Minimum Wage and Statutory Payments, changes to expenses and benefits and Student Loan deductions. Plus,

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Marriage Allowance promoted on Valentine’s Day

HMRC is encouraging married couples and people living in a civil partnership to sign up to the tax free break, which is worth up to £238 this year. More than 3.5 million couples are already benefitting from Marriage Allowance, which was introduced in April 2015, but HMRC estimates around 700,000 couples are still eligible for the free tax break worth

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HMRC apologises to homeless man fined £1,600 for late tax return

HMRC has apologised for fining a homeless man for failing to complete his tax return on time. Krzysztof Pokorowski, a self-employed electrician, was hit with penalties totalling £1,600 for failing to file his 2014-15 tax return by the due date. Reminders were sent to his last known address – but by the time the letters arrived, he was sleeping rough.

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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: Stamp Duty Land Tax – Higher Rate for Additional Dwellings and Dwellings Purchased by Companies – Relationships and Status: Stamp Duty Land Tax analysis of how the higher rate rules apply when affected by personal relationships (both formal and informal) and other

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Taxman collects extra £3.75bn following VAT crackdown

HMRC collected an extra £3.75bn from small and medium-sized enterprises (SMEs) last year as a result of investigations into the underpayment of VAT, a 12% increase on the previous year. The additional money gathered by the taxman through VAT investigations accounted for half of all revenue collected through investigations into SMEs in 2017 to 2018, according to tax experts PfP.

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700,000 miss 31 January tax deadline

A total of 93.6% of self assessment tax returns (a new record) were filed by the deadline, HMRC has revealed. However, while the majority of 11.5m taxpayers did their duty by 11.59pm on 31 January, some 731,186 taxpayers missed the deadline. In those last hectic hours on deadline day 60,000 returns were sent online between 4pm and 5pm. In total

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