HMRC is to extend reach of MTD for VAT, warns Saffery Champness

HMRC has recently updated its Making Tax Digital (MTD) guidance to reflect that, from 1 April 2022, all businesses registered for VAT in the UK will need to comply with MTD and file their VAT returns through functionally compatible software that links to HMRC’s API platform, according to chartered accountancy firm Saffery Champness.

Published 5 August 2020

Banks call for 'student loans' coronavirus debt repayment plan

UK banks have backed calls for a student loans-type repayment scheme for firms who have received coronavirus support loans to ensure struggling companies can make loan repayments. 

Published 16 July 2020

HMRC error sees over a million incorrect tax credit renewal notices sent to UK homes

HM Revenue and Customs (HMRC) has sent out more than one million tax credit renewal notices with incomplete information to addresses across the UK.

Published 2 July 2020

HMRC task forces collect £540m in extra tax revenue

HM Revenue & Customs’ (HMRC) specialist ‘task forces’ have collected £540 million in extra tax revenue for the UK authority in the last financial year, according to research by Pinsent Masons.

Published 3 June 2020

HMRC: Pension withdrawals increase by 19%

Throughout the first quarter of this year, £2.5 billion was withdrawn from pensions flexibly, marking a 19% increase from the £2.1bn recorded last year, according to the latest data from HMRC.

Published 30 April 2020

Blick Rothenberg: Are HMRC going 'off-piste' with regard to 'offshore'?

Those with offshore assets, income or gains are being treated differently from other taxpayers in terms of HMRC’s approach to the impact of COVID-19 warns tax and advisory firm Blick Rothenberg.

Published 24 April 2020

Secret HMRC team targets inheritance tax avoidance

HMRC is homing in on inheritance tax avoidance by wealthy families through the creation of a secret unit which will investigate the ways in which investment companies are used to reduce bills.

Published 24 February 2020

HMRC workers in Dundee 'betrayed' by Scottish Government over job losses

HMRC workers in Dundee have accused the Scottish Government of betraying them by failing to offer them "early access" to job vacancies with Social Security Scotland (SSS).

Published 21 February 2020

Pinsent Masons warns of corporate criminal risk as nine firms face investigation

Nine businesses are being probed by HMRC for potential breaches of the new corporate criminal offence of failing to prevent the facilitation of tax evasion, with 21 other potential cases under criminal review.

Published 12 February 2020

Scottish salmon exports soar to £600m

Scottish salmon exports have risen by 22% on the previous year to reach a record £618 million, according to the latest HMRC statistics.

Published 12 February 2020

Scotch Whisky exports surge amidst backdrop of tariff uncertainty

The Scotch Whisky Association (SWA) has revealed industry export figures for 2019, showing worldwide growth.

Published 12 February 2020

And finally... Excuse me

HMRC has highlighted ten of the weirdest excuses and expense claims it has received in the last decade.

Published 17 January 2020

HMRC to give billions back to freelancers

It is likely that the British Treasury will have to refund billions of pounds to freelance workers after it announced that it was minimising its crackdown on tax avoidance after it faced criticism in an official report.

Published 23 December 2019

UK-Japan trade hits record high in boost for Scottish firms

Scottish businesses are benefiting from record levels of trade with Japan, as UK exports totalled £14.8 billion in the year to September 2019, up by over 7.6% on the previous 12 months.

Published 23 December 2019

HMRC warns customers to be aware of self assessment tax scams

HM Revenue and Customs (HMRC) is warning millions of Self Assessment customers to be aware of fraudsters in the run-up to the 31 January deadline.

Published 20 November 2019