Those in receipt of tax credits must tell HM Revenue & Customs (HMRC) about any changes in their circumstances before 31 July or risk overpayment, it has been warned. Continue reading
Category Archives: Income Tax
Self-assessment taxpayers can “automatically defer payments on account”, HMRC confirms
Self-employed taxpayers due to make a payment on account can automatically defer the payment until 31 January 2021, it has been confirmed. Continue reading
IR35: Off-payroll working rules to go ahead in April 2021
Major changes to the off-payroll working rules will go ahead in April 2021, it has been confirmed. Continue reading
HMRC updates tax guidance for waiving income and bonuses and charitable giving
HM Revenue & Customs (HMRC) has updated its guidance for people choosing to waive their income to support their business or a charity during the COVID-19 pandemic. Continue reading
COVID-19: The impact on company car benefit in kind
Due to the coronavirus pandemic, many people in the UK are now working from home or have been placed on furlough leave, meaning that they are not using their employer-provided company car. But what is the impact on the benefit in kind (BIK)? Continue reading
IR35: House of Lords committee calls for reform of off-payroll working rules
A House of Lords committee report that is reviewing the planned changes to the IR35 off-payroll working rules has called for a reform of the rules, stating that there are ‘inherent flaws’ in the legislation. Continue reading
Deferring VAT – HMRC confirms businesses should cancel VAT direct debits
Following the Government’s announcement that businesses will be able to defer VAT payments for the period from April – June, HM Revenue & Customs (HMRC) has now confirmed that businesses should cancel direct debits for VAT if they want to utilise the deferment offer. Continue reading
HMRC: Record 11 million file Self-Assessment tax return before 31 January deadline
According to the latest data from HM Revenue & Customs (HMRC), a record 11.1 million taxpayers filed their tax returns before the deadline on 31 January. Continue reading
3,000 taxpayers file Self Assessment on Christmas day
More than 3,000 Self Assessment returns were filed on Christmas day, HM Revenue & Customs (HMRC) has revealed. Continue reading
IR35: HMRC loses £243,000 tax case
HM Revenue & Customs (HMRC) has lost a case against an IT Consultant that the tax body deemed liable for £243,000 in tax under the IR35 rules. Continue reading