Hmrc

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According to new HMRC data, a record of £41.3 billion was paid into pensions through tax relief last year, up from £38.2bn in 2019. Almost two-thirds of the relief in the last tax year is on contributions made by employers into occupational and personal pensions for their staff. 

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With just 100 days to go until Christmas, HMRC is urging shoppers to ensure they don’t get caught out by unexpected charges when buying from overseas traders. Changes introduced on 1 January this year mean that some UK consumers buying presents for family and friends from EU businesses may now

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Scottish businesses should prepare for a flood of letters from HMRC as furlough draws to a close and the UK Government looks to recoup a suspected £7 billion of fraudulent or erroneous Coronavirus Job Retention Scheme (CJRS) claims, according to business advisers Grant Thornton. HMRC is moving

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Nearly 1.8 million married couples and those in civil partnerships are using Marriage Allowance to save up to £252 a year in Income Tax, according to new figures published by HMRC. Summer has always been a popular season for weddings, and newly married couples or those in civil partnerships co

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The average inheritance tax (IHT) bill in Scotland has climbed 8.5% towards £200,000 according to the latest figures released by HMRC. For the year 2018-19, the average inheritance tax bill in the UK was £209,502. In London, the bill stood at £271,820, while in Wales it was £

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HMRC has been hit with accusations of “rushing” investigations into people who have allegedly not paid the right amount of tax or are facing fines for late returns after figures released by the tax authority revealed that two in three demands were overturned on appeal. Figures published

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More than 300,000 tax credits customers have just over one week to renew their claims before the 31 July deadline, HMRC has warned. As the deadline approaches, customers are being urged not to leave their renewal until the last minute and risk their payments being stopped. The quickest and easiest w

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More than one in four businesses that deferred tax payments during the initial lockdown last year still owe HMRC billions of pounds. A total of 156,500 out of 590,000 businesses that utilised Chancellor Rishi Sunak’s VAT deferral between March and June have failed to make contact with HMRC to

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Since April, almost 800,000 employees who have been working from home during the pandemic, have already claimed tax relief on household related costs, HM Revenue and Customs (HMRC) has revealed. The saving is worth up to £128 per year for each employee in Scotland and eligible workers can clai

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Reports of HMRC-branded phishing scams have jumped by 87% in the last year, from 572,029 to 1,069,522, according to official figures. The data, obtained by accountancy group Lanop Outsourcing under the Freedom of Information (FOI) Act, analysed data over the three most recent financial years (April

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The UK Government has told UK firms struggling with coronavirus-related debts that it will not pursue them for unpaid taxes in an attempt to avoid an increase in insolvencies this summer. Restructuring experts have said that many company companies will feel the full weight of the COVID-19 pandemic o

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Mark Brown, partner at Aberdeen chartered accountancy practice Meston Reid & Co, has warned businesses who have accessed schemes such as furlough and the Self-Employment Income Support Scheme (SEISS) to prepare for additional checks on their practices. HMRC is getting serious about pursuing frau

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HMRC Stamp Duty press machines will be officially retired from service on 19 July 2021, marking the end of over 300 years of tax-related history.

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Scottish savers have more money in their ISAs than their UK counterparts, according to new figures from HMRC. According to the data, there are 1.4 million Scottish adults with ISAs with an average holding of £29,861, higher than all other countries in UK. However, fewer of them use the tax-eff

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Individuals who attempt to avoid paying inheritance tax by transferring hundreds of millions of pounds in property wealth to their children have been denied a tax break. Almost 2,000 people who issued over £600 million in gifts have been labelled as ineligible for relief against the controvers

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