Hmrc

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 £

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

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

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

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

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

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

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

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.

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

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

HMRC has refunded millions of pounds to UK taxpayers who paid its controversial loan charge. However, only a small proportion of those who applied for a refund have received any cash, meaning hundreds of taxpayers face a longer wait for their money to be returned.

Almost 64,000 staff at HMRC will be allowed to work from home at least two days a week from next month, despite UK Government aims to get workers back into offices in the aftermath of the Covid-19 pandemic.

Businesses that deferred VAT payments last year have one month left to join online to pay in monthly instalments under the VAT Deferral New Payment Scheme, HMRC has said today. The online portal for the new payment scheme closes on 21 June 2021.

As lockdown ends and businesses start to reopen, traders in Scotland are being encouraged to watch HMRC’s new webinar on Rules of Origin. This webinar will help traders ensure they’re taking advantage of the preferential tariff rates available to them since 1 January, for goods they trad