Hmrc

HMRC chief executive Jim Harra has announced that Self Assessment customers will not receive a penalty for their late online tax return if they file by 28 February. More than 8.9 million customers have already filed their tax return. HMRC is encouraging anyone who has not yet filed their tax return

Accountants are dismayed that HMRC is refusing to extend the deadline for self-assessment tax returns on January 31, which could land millions of hard-hit entrepreneurs with fines totalling £250 million. The Association of Chartered Certified Accountants (ACCA) has lobbied HMRC for a rethink o

A woman who ran two Fife hotels has been jailed for a £380,000 VAT fraud. Lesley Dykes of Markinch stole the money during a five-year fraud, an HM Revenue and Customs (HMRC) investigation revealed.

An increasing number of wealthy families in the UK are making more claims for inheritance tax repayments under a little-known rule that allows refunds on share and property losses. Under the rule, executors are allowed to apply for IHT refunds on losses made ont he sale of inherited securities, incl

Almost 25,000 Self Assessment customers have set up an online payment plan to manage their tax liabilities in up to 12 monthly instalments, totalling £69.1 million, HM Revenue and Customs (HMRC) has revealed. In October, HMRC increased the threshold for self-serve Time to Pay arrangements from

The UK Government is considering calls to waive fines for late tax returns this year but has ruled out an official extension to the January 31 filing deadline. Campaigners have argued that a third national lockdown has "changed the playing field" and increased further pressure on freelancers and sma

HMRC has launched a new UK Trader Scheme to support businesses moving goods from the UK to Northern Ireland. Traders are being urged to consider whether they need to sign up to the new UK Trader Scheme (UKTS) to ensure traders don’t pay tariffs on the movement of goods into Northern Ireland fr

A further £3.1 million has been cut from the tax bill owed by the firm which formerly owned Rangers Football Club. Sources in the financial sector told The Times that it appeared the bill was likely to be reduced further as liquidators said they were having “positive discussions” w

A further £3.1 million has been cut from the tax bill owed by the firm which formerly owned Rangers Football Club. Sources in the financial sector told The Times that it appeared the bill was likely to be reduced further as liquidators said they were having “positive discussions” w

Two Scottish men involved in creating false invoices as part of a £45,000 tax fraud have been sentenced. David Paterson of Scone collaborated with his accountant Kevin Sinclair of Kirkintilloch to reclaim VAT they weren’t due, an HM Revenue and Customs (HMRC) investigation revealed.

HM Revenue and Customs (HRMC) has urged Scotland's 706,000 self assessment customers not to miss the 31 January deadline. The 2019-20 tax return can be finalised at any time up to the deadline but HMRC is encouraging customers to complete it early to allow for more time to pay their tax bill or set

The UK's inheritance tax (IHT) take on gifts has increased for three consecutive years, according to new figures. The number of estates liable for IHT on gifts rose from 873 estates in 2015/16 to 920 in 2016/17 and then 993 in 2017/18, FT reports.

An English bar owner who refused to pay VAT on his 'super juices' by claiming they should be classed as food, has won a five-year legal battle with HMRC.

HM Revenue and Customs (HMRC) and the Advertising Standards Authority (ASA) have launched new action to cut out misleading marketing by promoters of tax avoidance schemes. The joint enforcement notice aims to disrupt the activity of promoters and protect people from being presented with misleading a

Innovation funding specialist ABGI UK has called for stricter measures and greater regulation of advisers after more than £300 million incorrect and illegitimate R&D tax claims were identified within HMRC’s annual report. According to the newly published HMRC Annual Report and Accoun