Hmrc

Anderson Anderson & Brown (AAB) has reported an increase in new enquiries for support with HMRC investigations and disclosures, for both companies and individuals residing in the UK since the start of the year. AAB has experienced a significant increase in new enquiries across the multiple

Self Assessment taxpayers have just over a week to pay any outstanding tax liabilities in full or set up an online payment plan for the 2019 to 2020 financial year to avoid incurring penalty charges, HMRC has urged. Last month, HMRC said that due to the impact of the COVID-19 pandemic, they were giv

Jim Harra, the chief executive of HMRC, has revealed that he received a call from fraudsters pretending to be the taxman. Mr Harra issued a warning on Twitter revealing that the HMRC had seen an increase in reported scams.

The number of furloughed jobs in Scotland rose by just over a quarter between December and January, according to the latest HMRC coronavirus statistics. Provisional figures show as at 31st January 2021, 362,300 employments (14.9% of eligible employments) in Scotland were being supported by the Coron

HMRC has annoucned that over half a million businesses who deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay it in smaller monthly instalments.

HMRC has announced that Self Assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April. The payment deadline for Self Assessment is 31 January and interest is charged from 1 February on any amounts outstanding. Normally, a 5% late pa

HM Revenue and Customs (HMRC) is encouraging married couples and people in civil partnerships across Scotland to sign up for a tax break this year. Marriage Allowance offers individuals the chance to transfer part of their Personal Allowance to their husband, wife or civil partner, which could reduc

More than 10.7 million people submitted their 2019/20 Self Assessment tax returns by the 31 January deadline, HM Revenue and Customs (HMRC) has revealed. The remaining 1.8m whose tax return is now late will not be charged a late filing penalty provided they submit their return online by 28 February.

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