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HMRC reminds cryptoasset holders of tax obligations
Ahead of this month's filing deadline for 2022/23 tax returns, HMRC is urging cryptoasset holders to check if they need to report transactions.
Beware of Sunday payment deadline this month
The deadline for paying monthly PAYE is on the 22nd of each month. For September 2024, this falls on a Sunday. What can you do to avoid late payment?
Form P1000 now available digitally
Dealing with a deceased client's tax affairs can be drawn out, partly due to the authorisation process. However, a recent change should help simplify things.
Latest guidance on correcting VAT errors
Early in 2023 HMRC launched an online tool for helping you correct errors in VAT returns. After a settling-in period HMRC has recently published new guidance on using the tool.
HMRC launches remittance basis toolkit
A new toolkit aimed at assisting non-domiciled taxpayers that use the remittance basis has been launched. What does this do?
Further relaxation of self-assessment thresholds announced
The government has announced changes to the threshold at which some taxpayers need to complete a tax return. What's the full story?
HMRC U-turn on helpline closures
HMRC announced that it would be scaling back its tax helplines. It has now seemingly reversed the decision. What's going on?
Rogue refunds of Class 2 NI due to HMRC failure
HMRC has incorrectly refunded Class 2 NI to some self-employed taxpayers. What should you do if you get an unexpected payment?
Online side hustlers to feel HMRC's wrath?
HMRC to track online platform earnings. Panic over a new 'side hustle' tax. Who's affected?
Reforms to tax treatment of alternative finance products proposed
Govt addressing tax differences in alternative finance. How to participate?
Workaround for botched HMRC student loan repayment calculations
HMRC systems cannot differentiate between certain types of income which could lead to an overpayment of student loan deductions. What's the solution?
Guidance for merged R&D scheme published
Companies claiming tax relief for R&D will need to use the new merged scheme for accounting periods starting on 1 April 2024. What are the key changes?
Have your say on e-invoicing
The government is seeking views on the standardisation of electronic invoicing. Why, and how can you join the consultation?
Child Benefit claimants could be missing out on full state pension entitlement
If you claimed Child Benefit prior to May 2000 you may have missed out on valuable qualifying state pension years due to nuances in HMRC's systems.
New guidance on commuting expenses for hybrid workers
You can't claim tax relief for the expenses associated with travelling to your usual place of work. However, what is the position if you're a hybrid worker?
Government seeks views on inheritance tax changes for trusts
The government has opened a consultation on the application of the £1m allowance for property settled into trust qualifying for 100% property relief.
HMRC issues reminder about new R&D tax relief rules
Despite new requirements for research and development (R&D) claims being in force for a month, almost half of claims made since then have omitted the necess
HMRC cuts late payment interest following base rate changes
Late payment interest rates on underpaid taxes will soon decrease due to the recent reduction in the Bank of England's base rate. What are the new rates?
HMRC launches PAYE code tool
HMRC has launched a new online tool to help you understand your PAYE code. What is it and how can you use it?
New online service for voluntary contributions goes live
Gaps in your NI history? You can now pay voluntary contributions online to increase your entitlement to certain benefits. How do you access the new service?
MRC launches MTD ITSA toolkit
HMRC has launched a new online tool to help taxpayers determine whether they need to use Making Tax Digital for Income Tax Self-Assessment (MTD ITSA).
Advisory fuel rates from 1 March 2024 published
The approved amount that employers can reimburse staff for business travel in company cars changes from 1 March 2024. What are the new rates?
Relaxation of self-assessment threshold
HMRC has promised a change to the threshold at which self-employed taxpayers need to complete a tax return. What do we know so far?
Loan written off: are you in HMRC's crosshairs?
HMRC is writing to directors that took a loan from their company that was later written off or released. What should you do if you receive a letter?
Revised guidance causing problems for LLP members
The guidance relating to the salaried member rules where capital contributions are made has been updated.
Salary advances: change to reporting rules
Rule changes on payroll reporting for early salary payments have been relaxed. What do you need to know?
Winter fuel payments to be clawed back via tax system
A government U-turn on the winter fuel payment was announced this week, with a new means-tested threshold. How will this work in practice?
HMRC expands agent-related services
HMRC has written to the CIOT to confirm updates to the services provided on the Agent Dedicated Line. What's changed?
P11D filing deadline looming
The deadline for employers to file P11D forms for 2023/24 is 6 July. You need to be aware of a crucial change this year. Why should you check the position even
Losses on CT returns may be incorrect
If you receive a letter from HMRC about your corporation tax losses, don't ignore it or you could end up overpaying. What's going on?
P11D filing to end
HMRC is scrapping the use of Form P11D to report benefits in kind from 2026. How will you need to account for tax and NI due after this?
Scottish Budget confirms bands and rates for 2025/26
Ahead of the Scottish Budget, there were rumours that tax hikes were on the way. However, the announcements made on the day will see some easing of tax for lowe
Pension tax relief can now be claimed online
Higher and additional rate taxpayers can use a new online form to claim additional tax relief on pension contributions. Can you accelerate relief?
MTD ITSA guidance updated following Budget
The Budget contained announcements regarding the rollout of Making Tax Digital for Income Tax Self-Assessment (MTD ITSA). What's the latest updated position?
Multiple agents for MTD ITSA will be permitted
Guidance published by HMRC confirms that it will be possible for more than one agent to hold authorisation for Making Tax Digital.
Permanent increase to penalty interest rates
The new tax year saw a change to the way interest on late paid taxes is calculated. What's changed and what are the new charges?
Overlap relief calculator launched
An interactive tool has been launched to help taxpayers calculate the overlap relief to report on their 2023/24 self-assessment tax returns.
Scammers already targeting pensioners over winter fuel payments
Phishing attacks are being sent to pensioners purporting to be from the Department for Work and Pensions. What's going on?
Advisory fuel rates for company cars from 1 June 2024
The amount that employers can reimburse staff for business travel in company cars changes from 1 June 2024. What are the new rates?
Latest advisory fuel rates for company car drivers
The amount that employees can be reimbursed for business travel in company cars changed from 1 September 2024. What are the new rates?
Largest increase to the minimum wage
The government has announced substantial increases to the national living wage (NLW) and national minimum wage (NMW) rates from 1 April 2024.
Latest advisory fuel rates for company cars
The amount that employees can be reimbursed for business travel in company cars changes from 1 December 2024. What are the new rates?
HMRC reopens self-assessment helpline
HMRC's self-assessment helpline was closed in June. It's now reopened for calls ready for the tax return filing season. What do you need to know?
HMRC corrects guidance on company EV car charging
Occasionally, HMRC publishes guidance that is at odds with what the legislation says. A recent example of this is in respect of reimbursement for the costs of c
HMRC pauses some refund claims for agents
Due to security concerns, HMRC has warned that it will not process refund claims made by authorised agents. What's going on and what alternatives are available?
HMRC payroll reporting for Christmas
HMRC's recent guidance to employers includes a reminder about its concession for real time reporting requirements of payroll over the Christmas period. More.
Latest advisory fuel rates published
The HMRC-approved amount that employers can reimburse staff for business travel in company cars changes from 1 December 2023. What are the new rates?
Adding Strength to our Business
We are delighted to announce that Inspire Financial Management have engaged with Galley and Tindle Accountants in Durham, to form a strategic collaboration between our two firms.