HMRC

Government to set up standards committee to scrutinise HMRC’s powers

HMRC is to be put under greater scrutiny, with a new professional standards committee to oversee its use of wide-ranging powers to tackle tax avoidance and evasion. The move for greater scrutiny of HMRC comes amid concerns that the balance between clamping down and treating taxpayers fairly has tipped too far in the Revenue’s favour. The committee, which will take

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HMRC Talking Points

HMRC’s regular Talking Points provide ongoing information, guidance and tips to help you to understand tax issues. Here’s a selection of some of the Talking Points webinars coming up. There are a limited number of spaces, so you are advised to book your place early. Stamp Duty Land Tax – Higher Rates for Additional Dwellings – Back to Basics: Feedback for

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Improvements urgently needed to HMRC’s IR35 assessment tool

New legislation to extend the ‘off-payroll working’ rules will make businesses responsible for determining the tax status of the contractors they hire through their own companies and ensuring the necessary employment taxes are paid, according to the Chartered Institute of Taxation (CIOT). And tax advisers are warning that unless there are significant improvements to HMRC’s Check Employment Status for Tax

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Capital Gains Tax relief for homeowners to be slashed from next April

The Finance Bill 2020 has confirmed the Government’s proposals to reduce the tax exemption applying to the main home. The changes will net the Government £470m. Under the current rules, a homeowner can move out of their property and they have 18 months to sell the property before Capital Gains Tax (CGT) becomes relevant. From 6 April 2020, that 18-month

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Businesses urged to register for Making Tax Digital before August

Businesses with an annual turnover above £85,000 are being urged by HMRC to sign up to Making Tax Digital before the 7 August VAT filing date. Many of the 1.2 million businesses affected by the MTD rules, which became law for VAT periods starting on or after 1 April, will be required to submit their first quarterly VAT return to

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HMRC confirms supplier statements are acceptable for MTD

HMRC has stated that it is happy to accept totals from supplier statements for Making Tax Digital for VAT (MTDfV) purposes, according to the Association of Accounting Technicians. “Despite the pervading gloom that generally appears around the time of any change in the way that we interact with HMRC, it’s great that common sense has won out this time,” said

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Number of landlords admitting to avoiding tax up by 145% in a year

The number of UK buy-to-let landlords admitting to not paying tax on their rental income has risen by 145% over the past year, increasing to 16,110 in 2018/19 from 6,600 in 2017/18, according to research from UHY Hacker Young. The total amount of additional tax collected by HMRC from buy-to-let landlords admitting to unpaid tax on their rental income has

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HMRC: Signing up to Agent Services Account and Making Tax Digital

HMRC has made some improvements to the Agent Services Account (ASA). The ASA allows Agents to act on behalf of their clients for Making Tax Digital. The changes are as follows: You are now able to track the status of authorisation requests made in the last 30 days – this is where an agent has used the new digital authorisation

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Scheduled maintenance to the Making Tax Digital Service

HMRC will be undertaking some scheduled maintenance to the Making Tax Digital (MTD) VAT service later this month. As a result, the service will be temporarily closed from Saturday 13 July from 7.30pm to 8.30pm and Sunday 14 July from midnight to 2.00am. During these periods, users may experience some intermittent disruptions to both the VAT and ITSA services. If

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