HM Revenue and Customs (HMRC) have announced that Self-Assessment taxpayers will not be charged the 5% late payment penalty if they pay their tax or set up a payment plan by 1 April 2021.
The Low Incomes Tax Reform Group (LITRG) has urged the government to raise the High Income Child Benefit Charge (HICBC) threshold to avoid it affecting basic-rate taxpayers for the first time in April 2021.
HM Revenue & Customs (HMRC) revealed that more than 10.7 million people submitted their 2019/20 Self-Assessment tax returns by the 31 January 2021 filing deadline.
Thousands of Self-Assessment taxpayers are to benefit from HM Revenue & Customs (HMRC) announcement to postpone tax return late filing penalties until 28 February 2021.
The Institute of Directors (IoD) has warned the government that a rise in CGT would affect Britain's entrepreneurial spirit.
HMRC and Advertising Standard Authority launch new action to disrupt promoters of Tax Avoidance Schemes
HMRC and the Advertising Standards Authority (ASA) have launched a new joint enforcement notice to cut out misleading marketing by promoters of Tax Avoidance Schemes.
The Wealth Tax Commission was established in Spring 2020 to provide an in-depth analysis on proposals to introduce a UK wealth tax for the first time in almost half a century. The last was considered in the UK in 1974.
As tax advisers we have become accustomed to advising business owners of the potential tax savings associated with the purchase of electric and low emission vehicles.