Getting married or conducting a civil partnership ceremony is often the happiest day of most people’s lives but unfortunately almost one million married or civil partnered couples in the UK…
Tax News
Delay in issuing Self-Assessment penalty notifications
While 93.68 per cent of the 11.5 million taxpayers who were required to file their Self-Assessment Tax Returns by midnight on 31 January did so on time, 731,186 missed the…
Spring Statement 2019
On any other day, the Chancellor’s Spring Statement would have dominated the headlines. However, with the UK’s scheduled withdrawal from the EU just days away, and the Prime Minister’s latest…
Just over half of businesses are prepared for Making Tax Digital
A new study into preparations for Making Tax Digital amongst businesses has found that only 57 per cent of firms are ready to comply with the new regime by 1…
Mind the tax gap – OTS reports £600million IHT shortfall
The Office of Tax Simplification (OTS) has found that the tax gap for inheritance tax is £600 million a year despite a steady increase in receipts seen by HM Revenue…
Taxpayers offered online tool to assess their self-assessment requirement
It should seem obvious whether an individual must submit a self-assessment tax return annually. Yet, each year, thousands of people find themselves brought into the regime unwittingly. To help taxpayers…
Tax rates rise twice as fast in the UK than the international average
According to the Organisation for Economic Co-operation and Development (OECD), UK tax revenue as a percentage of GDP rose to 33.3 per cent in 2017. This was up from 32.7…
An end to the Entrepreneurs’ Relief ‘dilutions dilemma’?
As a business takes off, the level of investment it needs in order to expand can significantly outpace growth in revenues and profits. One of the options open to entrepreneurs…
Will IHT be the next tax to go digital?
A new report has called for the Government to move to a new fully digital system for Inheritance Tax (IHT). The Office of Tax Simplification (OTS) has released an 82-page…
House of Lords calls for a delay to Making Tax Digital
The House of Lords Economic Affairs Committee has criticised HM Revenue & Customs (HMRC) for its handling of Making Tax Digital (MTD) and called for a delay to some of…
