The number of UK families and individuals seeking out Inheritance Tax (IHT) advice will rise sharply over the next three years, a new study has predicted. The findings, which follow…
Tax News
Documents reveal HMRC plans to secretly access bank account information
Documents published online have revealed HM Revenue & Customs’ (HMRC) plans to secretly access bank account information. The planned new powers come in the form of information orders, which are…
Tens of thousands of fake HMRC websites taken down
Figures published by HM Revenue & Customs (HMRC) show that 20,750 malicious websites have been taken down over the last year – 29 per cent more than in the previous…
HMRC collects more than £30 billion worth of extra tax in last financial year
New figures from HM Revenue & Customs (HMRC) have revealed that the tax authority brought in a total of £605.8 billion in the year to April 2018 – an increase…
MTD for VAT clarified in new communication from HMRC
HM Revenue & Customs (HMRC) has finally issued a new notice on Making Tax Digital for VAT in which it has clarified many of the questions that businesses had. VAT…
More than 100,000 first-time buyers benefit from Stamp Duty Land Tax reforms
HM Revenue & Customs (HMRC) has published data which reveals that more than 100,000 first-time buyers have benefited from Stamp Duty Land Tax (SDLT) reforms announced at the last Budget.…
Taxpayers warned of Requirement to Correct as deadline approaches
Taxpayers with undeclared offshore tax liabilities, including Income Tax, Capital Gains Tax or Inheritance Tax, are obligated to disclose these liabilities to HM Revenue & Customs (HMRC) on or before…
Reminder on changes to Corporation Tax notices
On 19 September 2016 HM Revenue & Customs (HMRC) decided to stop sending out paper copies of several important documents relating to Corporation Tax. Despite this move taking place nearly…
Almost a third of Britons ‘confused’ by IHT terminology
A new study has revealed that almost a third (30 per cent) of UK adults do not fully understand key Inheritance Tax (IHT) terminology, while a similar number are unaware…
Building contractors will have to comply with complex new VAT rules
Those working in the construction and building industry are being encouraged to get to grips with a new way of accounting for VAT. Draft legislation provides that from 1 October…
