You are here: Home » News & events » Tax News

Tax News

From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:

Value of estates set to double over the next 20 years - January 30, 2018
thumb image

The current younger generation are set to receive the biggest ‘inheritance boom’ of any post-war generation, but will have to wait until they are approaching retirement to benefit from the windfall, according to a new study. Independent think tank, the Resolution Foundation, has estimated that so-called ‘millennials’ are set to benefit from a significant increase … Continue reading Value of estates set to double over the next 20 years


New Year, New Home – Self-employed reminded about changes to SA302 - January 19, 2018
thumb image

With many people looking to get on to the housing ladder in 2018, it has never been more important to have easy access to a mortgage. However, since HM Revenue & Customs (HMRC) changed the way it issues details of tax calculations and tax year overviews for submission with mortgage applications last year, self-employed workers … Continue reading New Year, New Home – Self-employed reminded about changes to SA302


Recently given your staff a gift? - January 19, 2018
thumb image

Maybe you have recently given your staff members a bottle of wine or a voucher to help celebrate the New Year or as a thank you for their services in 2017, but did you know this could be classed as a trivial benefit in kind? While the cost may not be ‘trivial’ to some, this … Continue reading Recently given your staff a gift?


Don’t PIN your hopes on paying your tax by credit card - January 19, 2018
thumb image

If you have in the past paid your tax bill using a credit card, you will need to use a different method this year. That is because credit card payments to HM Revenue & Customs (HMRC) have fallen victim to a Government initiative originally intended to make it easier to pay for goods and services … Continue reading Don’t PIN your hopes on paying your tax by credit card


Points mean penalties in HM Revenue & Customs late filing reforms - January 19, 2018
thumb image

A shake-up of penalties for late submissions and payments under the Government’s Making Tax Digital (MTD) programme is to see a points-based system introduced, HM Revenue & Customs (HMRC) has confirmed. The new system is set to be introduced in tandem with the launch of MTD for VAT in 2019 and will see taxpayers receiving … Continue reading Points mean penalties in HM Revenue & Customs late filing reforms


Revenue aims for 100 serious and complex tax crime prosecutions by 2022 - January 19, 2018
thumb image

With tax avoidance and evasion continuing to be high on the political agenda, HM Revenue & Customs (HMRC) has announced its intention to achieve 100 serious and complex tax crime prosecutions by the end of the current Parliament in 2022. The announcement was included in HMRC’s Single Department Plan, published last month, which sets out … Continue reading Revenue aims for 100 serious and complex tax crime prosecutions by 2022


Government’s coffers set to increase as a result of Inheritance Tax - December 15, 2017
thumb image

Latest figures suggest that an additional £900million in Inheritance Tax (IHT) will be collected by the Government between now and 2022. Documents which were released as part of the recent Autumn Budget revealed that the Treasury expects to receive a larger than expected amount from IHT over the next five years. Back in March, the … Continue reading Government’s coffers set to increase as a result of Inheritance Tax


Don’t forget the Self-Assessment deadline - December 15, 2017
thumb image

While most people will be focused on the festive celebrations at this time of the year, businesses and their owners must not forget the all-important Self-Assessment deadline. The deadline for sending 2016-17 tax returns to HMRC is midnight on 31 January 2018. The penalty regime for missing the 31 January filing deadline includes an initial … Continue reading Don’t forget the Self-Assessment deadline


Class 2 and 4 NIC merger delayed until 6 April 2019 - December 15, 2017
thumb image

The abolition of Class 2 National Insurance Contributions (NIC) will now be delayed until 6 April 2019, according to a new written statement to the House of Commons. HM Treasury has written to MPs to let them know that the move has been delayed to allow additional consultation with interested parties, particularly in respect of … Continue reading Class 2 and 4 NIC merger delayed until 6 April 2019


Simple by name, but not necessarily by nature - December 15, 2017
thumb image

Earlier this year, HM Revenue & Customs (HMRC) introduced Simple Assessments for some taxpayers who have, until now, been required to complete Self-Assessment Tax Returns. Those affected are taxpayers with relatively straightforward financial affairs where HMRC considers that it already has sufficient information to be able to calculate the tax owed. The first groups to … Continue reading Simple by name, but not necessarily by nature


© Copyright Moore Thompson. All rights reserved. | Terms & conditions | Privacy policy | Sitemap
Moore Thompson is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales.
Accountants in Spalding | Wisbech | Market Deeping | Lincolnshire | Cambridgeshire | Peterborough