According to HM Revenue & Customs (HMRC), the UK’s richest of the rich took advantage of tax loopholes and only paid an average of 10 per cent in inheritance tax…
Tax News
Are you registered for Making Tax Digital yet?
Launched on 1 April 2019, most VAT registered businesses are now required to comply with the new Making Tax Digital for VAT regime. However, many businesses may not be aware…
Tax-free HMRC scheme assists families with childcare costs
A Government scheme set up by HM Revenue & Customs (HMRC) is advising parents to apply for the Tax-Free Childcare scheme, which provides contributions on savings used to cover childcare…
IHT beneficiaries “in the dark” – new survey reveals
A major survey has found that the vast majority of Brits are completely unaware of their Inheritance Tax (HT) liability. Prudential UK surveyed over 900 financial advisers and their responses…
Make the grandest romantic gesture and reduce your tax bill
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…
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…
