HMRC

Hard Brexit could mean UK nationals lose personal tax allowance

Thousands of UK nationals living overseas and regarded as non-resident in the UK for the whole of a UK tax year could lose their entitlement to the UK personal allowance if there is a hard Brexit as they would no longer be an EU/EEA national. Robert Salter, a specialist in expatriate and employment taxes at tax advisory firm Blick Rothenberg,

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Long waits for MTD VAT helpline advice slammed by MPs

MPs have criticised HMRC for the long wait times experienced by taxpayers looking to get through to Making Tax Digital for VAT (MTD for VAT) helplines. Many taxpayers have reported that they have been kept waiting on the phone for long periods of time when seeking help in regard to MTD for VAT. Others stated that they have been cut

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VAT Certificates under Making Tax Digital

The vast majority of businesses that have signed up (or have been signed up by an agent) to Making Tax Digital are now able to view their VAT Certificate in their Business Tax Account (HMRC online services). The functionality for agents to access this information will be delivered in August, in the meantime they should call the HMRC VAT helpline

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Making Tax Digital – Direct Debit payments

HMRC is aware a small number of businesses that pay their VAT by Direct Debit and have signed up to Making Tax Digital (MTD) have not had their last non-MTD payment collected. HMRC is rectifying the situation as a matter of priority and expect to have collected all outstanding payments by 22 July. If a business has not had their

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When no tax demand spells trouble

Rather than cheer the lack of an expected tax bill this summer, the Association of Taxation Technicians (ATT) is warning such people to brace themselves for bad news from HMRC after Christmas. This is because problems with HMRC’s systems earlier this year will mean that some people may not receive the tax demands they expect by the end of July.

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HMRC missed out on collecting £35bn in tax in 2018

The amount of money the taxman missed out on collecting in 2018 rose by £2bn, undermining government claims about effective efforts to clamp down on tax evasion. Figures published by HMRC revealed its tax gap increased to an estimated £35bn in 2017-18, up from £33bn in 2016-17 and from £30bn the year before that. The tax gap is the difference

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Bank Governor’s warning ‘should be wake-up call’

Bank of England boss Mark Carney has warned that up to 150,000 businesses are not properly prepared for a no-deal Brexit, a warning that should act as a wake-up call, warns RSM. Commenting on the Governor’s comments, Brad Ashton, international trade partner at RSM said: “The Governor is right to sound the alarm over the lack of business preparedness for

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Relief available for those struggling to find accessible software for new tax rules

Those who cannot find suitably accessible software to comply with the new Making Tax Digital for VAT rules should apply to HMRC for a temporary exemption, says the Low Incomes Tax Reform Group (LITRG). HMRC are not providing in-house software for Making Tax Digital for VAT. Instead, they are working with the software industry to bring products to market for

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Talking Points: getting you up to speed

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. PAYE Expenses & Benefits (P11D): This webinar has been designed to provide examples of the most

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