Taxpayers, businesses and HM Revenue & Customs (HMRC) alike will “learn very quickly” from the Government’s year-long Making Tax Digital (MTD) pilot scheme, which will be phased in from April this year. Continue reading HMRC defends Making Tax Digital timescale at House of Lords
HM Revenue & Customs (HMRC) has hailed its new personal tax accounts (PTAs) ‘a success’, after data revealed that more 7.4 million taxpayers had signed up for its digital accounts by the end of 2016. Continue reading 7.4 million taxpayers now using HMRC’s digital personal tax accounts, says study
New research suggests that investigations into unpaid Capital Gains Tax (CGT) managed to raise an additional £140million for HM Revenue & Customs (HMRC) over the course of the last financial year. Continue reading Crack down on unpaid CGT raises £140m for HMRC
A new study suggests that HM Revenue & Customs (HMRC) enquiries are taking longer to close – and that taxpayers had to wait an average of 60 days (or 24 per cent) longer for the Revenue to complete investigations last year.
Taxpayers facing enquiries under HMRC’s pensions and CSI (charities, savings and international) units were forced to wait an average of 303 days in 2015/16, up from 243 days in 2014/15, according to reports.
Furthermore, at the end of 2015/16 as many as 4,011 enquiries carried out by the two units remained unclosed – up from just 494 recorded at the end of the previous financial year.
Experts have criticised the Revenue on account of the fact that prolonged waiting times tend to put taxpayers under greater stress, while weighing heavily on their eventual legal bills.
Some argue that the advent of advanced payment notices (APNs), which put taxpayers under an obligation to pay up prior to a dispute being closed, have ‘reduced the incentive’ for the Revenue to promptly close their enquiries.
However, taxpayers are typically within their rights to seek to force HMRC to close an enquiry by applying to the tax tribunal for a direction compelling the Revenue to do so.
Important changes to the tax treatment of non-domiciled (non-dom) individuals in the UK are due to take effect from the beginning of April – and those who believe they might be affected are strongly urged to seek advice. Continue reading Tax changes for non-doms just around the corner
Fraudsters are continuing to target taxpayers with fake HM Revenue & Customs (HMRC) emails in an effort to steal private and confident information. Continue reading Fraudsters rev up ‘phishing’ emails in tax season
The Association of Independent Professionals and the Self-Employed (IPSE) and other contractor bodies have issued fresh warnings about forthcoming reforms to IR35. Continue reading Fresh concerns raised over forthcoming IR35 changes
The Government’s hotly-contested Making Tax Digital (MTD) project is now facing fresh criticism over its proposed £10,000 a year exemption threshold, above which businesses and self-employed individuals will need to report to HM Revenue & Customs (HMRC) on a quarterly basis. Continue reading Making Tax Digital faces fresh criticism from House of Lords
Approximately 400,000 landlords and sole traders will be asked to ‘trial’ Making Tax Digital (MTD) before October 2017, according to reports. Continue reading HMRC will ask thousands of sole traders to ‘trial’ Making Tax Digital this year
Reports suggest that a “technology failure” left hundreds of thousands of self-assessment taxpayers “uncertain whether tax payments had cleared” on 30 January – the day before the deadline for online tax returns. Continue reading HMRC phone lines “descended into chaos” ahead of tax return deadline day