HMRC: Update tax credit account or risk overpayment
Those in receipt of tax credits must tell HM Revenue & Customs (HMRC) about any changes in their circumstances before 31 July or risk overpayment, it has been warned.
Income Tax
Chancellor orders review into Capital Gains Tax system
The Chancellor, Rishi Sunak, has commissioned a report into the UK’s Capital Gains Tax (CGT) system, it has been announced.
IR35: Off-payroll working rules to go ahead in April 2021
Major changes to the off-payroll working rules will go ahead in April 2021, it has been confirmed.
HMRC updates tax guidance for waiving income and bonuses and charitable giving
The move comes after research revealed that an increasing number of people were choosing to give up all or part of their income despite not understanding the tax implications. What are the rules? Employers, directors and employees have the right to waive their salary or bonuses, known as a “waiver of remuneration”. In these situations, …
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Self-assessment tax payment on account deferral scheme open to ALL taxpayers, says HMRC
Updated guidance has revealed that the self-assessment payment on account deferral scheme will now apply to all taxpayers, not just the self-employed. This includes property income and individuals with investments.
Deferring VAT – HMRC confirms businesses should cancel VAT direct debits
Following the Government’s announcement that businesses will be able to defer VAT payments for the period from April – June, HM Revenue & Customs (HMRC) has now confirmed that businesses should cancel direct debits for VAT if they want to utilise the deferment offer.
3,000 taxpayers file Self Assessment on Christmas day
More than 3,000 Self Assessment returns were filed on Christmas day, HM Revenue & Customs (HMRC) has revealed.
Nine in 10 off-payroll workers incorrectly paying tax, says HMRC
HM Revenue & Customs (HMRC) has published new guidance on changes to off-payroll working rules coming into effect in the private sector next year.
Time to think about tax returns, says HMRC
Is it that time of the year already? Today, HM Revenue & Customs (HMRC) has reminded taxpayers that they have just 100 days to go until the 31 January tax return deadline.
New rules to crack down on ‘phoenix companies’ confirmed for April 2020
Company directors who attempt to “sidestep” their tax liabilities by forcing their company into insolvency will face tougher penalties from next year.
