The deadline for submitting employment-related securities (ERS) annual returns to HMRC is approaching – and missing it will lead to an automatic penalty. Employers will need to file by July 6 if UK directors, employees, or employees with UK work duties have acquired shares or other securities in their company. Filing is also a likely […]
Workers accessing private pension savings or using complex pay arrangements have been warned “check before you dip”. The alert has been issued by HM Revenue and Customs (HMRC) and it comes amid a crackdown on tax avoidance schemes. In a statement it said: “Check before you dip into your private pension pot – it could […]
Sole traders and landlords earning more than £50,000 from self-employment and property have just weeks left to prepare for Making Tax Digital (MTD) for Income Tax. From April 6 those eligible will need to use recognised software to keep digital records and send HM Revenue and Customs (HMRC) light-touch quarterly updates of their income and […]
HM Revenue and Customs (HMRC) has issued a warning after new figures revealing more than 4,800 self-assessment scams have been reported since February 2025. Scammers use persuasive and threatening tactics to target people when they are more likely to receive correspondence from HMRC. They send fake tax demands or attempt to pressurise people to hand […]
More than 200,000 sole traders and property owners required to move to the new digital tax reporting system from April 2026 will receive a letter from HMRC later this month. Making Tax Digital (MTD) will apply to self-employed individuals and landlords if their ‘qualifying income’ – combined income from trading and property, measured before expenses […]
The number of SMEs claiming research and development (R&D) tax credits fell by nearly a third in 2023-24, according to newly published figures. A report from HM Revenue & Customs (HMRC) reveals that the overall number of claims by businesses fell by 26 per cent to the lowest figure in nearly a decade – with […]
HM Revenue and Customs (HMRC) has got crypto owners that aren’t paying their fair share of tax in its sights. From January 2026, people who own crypto – like Bitcoin, Ethereum or Dogecoin – must give personal details to every crypto service provider they use to make sure they are paying the right tax. And […]
HRMC continues to move forward with its Making Tax Digital (MTD) policy which sits the heart of its transformation vision. Draft legislation for inclusion in the government’s new Finance Bill was published at the end of July. MTD for Income Tax is due to become mandatory for landlords and sole-traders with qualifying income more than […]
Small businesses failed to pay 40 per cent of the corporation tax they owed in 2023-24, new figures have revealed. An HMRC report into the nation’s ‘tax gap’ showed the amount unpaid by small companies rose from £12.3bn to £14.7bn. The gap, the difference between what tax is expected to be paid and what is […]
As tax collection costs continue to rise HM Revenue and Customs (HMRC) has been branded a “lumbering dinosaur.” A report from an influential group of MPs says HMRC’s attempts to transform its services through Making Tax Digital, while generating extra revenue, have imposed hundreds of millions in extra costs on the taxpayer, with more to […]
