The penalty reform for late payments has been delayed until 1 January 2023, confirms a statement by Lucy Frazer (The Financial Secretary to the Treasury).
Multiple homeowners who leave “holiday lets” empty will no longer be able to claim tax benefits, it has been announced.
Small and medium-sized enterprises (SMEs) that do not use Making Tax Digital (MTD) for VAT make more errors than those that do, a major study has revealed.
Under new rules set by the Government, the system of penalties for VAT and Income Tax Self-Assessment (ITSA) are changing. The new system of fines is aimed at tackling non-compliance by taxpayers who repeatedly fail to meet their obligations to provide returns and other information requested by HMRC. Those who make occasional and infrequent mistakes […]
During the last decade, the UK property industry has seen an increasing number of tax rules and legal obligations place on investors and landlords, including changes to the wear and tear rules, lettings relief and mortgage interest relief.
If you are planning on treating staff this Christmas, here’s a brief guide to the tax rules for the 2021/22 financial year.
Tens of thousands of self-employed workers have used HM Revenue & Customs’ (HMRC) Time to Pay service to spread out tax bills, the latest figures have revealed. The Time to Pay facility has offered a lifeline to those who may struggle to pay their tax bill in full in the wake of the coronavirus pandemic. […]
Controversial changes to the basis period rules will be pushed back to 2024, the Government has announced.
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