Hmrc

Mortgage approvals for UK homebuyers fell for the third consecutive month in March, signalling a potential market slowdown, according to the Bank of England. Falling by 800, approximately 64,300 mortgages for house purchases were approved – a key indicator of future borrowing activity.

Inheritance Tax (IHT) receipts reached a record £8.2 billion in the 2024-25 tax year, up from £7.5bn previously, HMRC has revealed.

Sole traders and landlords with qualifying income exceeding £50,000 will face a significant change in tax reporting from next year, with the mandatory implementation of Making Tax Digital (MTD) for Self Assessment. Under the new system, affected individuals must maintain digital records using

A recently published letter from HM Revenue and Customs (HMRC) provides insight into the interactions between HMRC and the newly established Office of Trade Sanctions Implementation (OTSI) and on investigations and enforcement of the UK’s trade sanctions regime, writes Stacy Keen. Between 2021

Official figures have revealed a significant shift in income tax contributions, with more UK adults over 70 paying tax than those under 30, according to official government figures. Treasury data for 2022-23 shows 5.45 million over-70s paid income tax, compared to 5.23 million under-30s. This revers

HM Revenue & Customs (HMRC) is set to replace Barclays with Bank of Scotland-owner Lloyds Banking Group in a significant government banking contract, ending a ten-year agreement. The move, worth £99 million to Lloyds, comes as HMRC awards a new £334m, 12-year contract to a consortium

A tax officer who embezzled thousands of pounds from His Majesty’s Revenue and Customs (HMRC) to pay off her mortgage and settle other debts has been jailed for two years. Joanne Connell, 37, used her position in the bankruptcy team and knowledge of the HMRC computer self-assessment system to

HM Revenue and Customs (HMRC) is facing criticism from a cross-party group of MPs for its handling of tax evasion, who have warned that the true cost of tax dodging is likely far greater than HMRC's estimated £5.5 billion for 2022-23. The Commons Public Accounts Committee's (PAC) report highli

The National Audit Office (NAO) has warned that the UK's increasingly complex tax system is adding hundreds of millions of pounds to administration costs for both the government and businesses.

Over 11.5 million taxpayers successfully filed their self-assessment tax returns by the deadline last Friday, according to HMRC. However, an estimated 1.1 million individuals missed the cutoff, potentially leading to £110 million in late filing penalties alone.

HMRC collected a record £6.3 billion in inheritance tax over the nine months to the end of December 2024, according to new figures. Inheritance tax receipts reached £6.3bn from 5 April to 31 December 2024, marking an 11%increase on the £5.7bn received in the same period in 2023.

MPs have accused HM Revenue & Customs (HMRC) of deliberately degrading its phone services to force taxpayers online. The Public Accounts Committee (PAC) found that average call waiting times had soared to over 23 minutes, nearly doubling in two years.

Around 5.4 million people across the UK are yet to file their tax return, HM Revenue and Customs (HMRC) has warned.

HMRC has come under fire over accusations of overlooking widespread tax evasion by Chinese "burner" companies operating on online marketplaces like Amazon, eBay, and Temu. These companies have been said to exploit lax UK registration rules to avoid paying VAT and import taxes, costing the Treasury m

New figures have revealed a dramatic increase in the number of UK taxpayers facing a 60% tax rate on a portion of their earnings. Data obtained through a freedom of information request to HM Revenue & Customs shows that an estimated 634,000 individuals fell into this bracket in 2023-24, a 45% su