Hmrc

A Scottish R&D tax expert has warned that cashflow issues caused by lengthy processing delays might prove terminal for dozens of SMEs with genuine tax credit claims. Processing times for all new claims have slowed down since HMRC began investigating fraudulent use of the tax relief scheme.

Uber has agreed to hand over £615 million to HM Revenue and Customs (HMRC) settling an investigation into overdue VAT, after reporting better than expected results. The US-based ride hire and food delivery company had previously claimed it was exempt from paying VAT due to its drivers bei

An HMRC investigation is underway into suspected fraudulent use of the research and development (R&D) tax relief scheme intended to promote investment into technology and innovation. So far, eight individuals have been arrested over their alleged misuse of government tax incentives. They al

The UK Supreme Court has allowed an appeal by HM Revenue and Customs against a decision of the Court of Session to allow for the recovery of historic input VAT by the NHS Lothian Health Board for private work undertaken between 1974 and 1997. NHS Lothian claimed unrecovered input tax in respect of p

The UK Supreme Court has determined that HM Revenue and Customs has the power to refuse to accept a taxable person’s self-assessment claim and decide at a later date to pay a lower amount than was claimed after an appeal by a Scottish optician business. DCM Optical Holdings Ltd, which trades a

HM Revenue and Customs (HMRC) has warned that self assessment customers who are starting to think about their annual tax returns for the 2021 to 2022 tax year should guard against being targeted by fraudsters. In the 12 months to August 2022, HMRC responded to more than 180,000 referrals of suspicio

HMRC is reminding businesses that from Tuesday 1 November, they will no longer be able to use their existing Value Added Tax (VAT) online account to submit VAT returns. By law, all VAT-registered businesses must now sign up to Making Tax Digital (MTD) and use compatible software to keep their VAT re

The latest annual figures have shown that the UK has 520 fewer ISA millionaires following a period of global stock market volatility. InvestingReviews.co.uk obtained the data from HMRC following a series of Freedom of Information requests. The figures showed millionaire numbers fell by a quarter to

HMRC has been ordered to pay a disabled employee £20,000, following an employment tribunal ruling. Hamish Drummond, who suffers from unexplained bouts of dizziness and fainting, took his claim to the tribunal after his employer, HMRC, stopped him from submitting an application for a senio

The Treasury has collected a record £14.3 billion in capital gains tax (CGT) in the last financial year, an increase of 42% from the previous period. The record sum was realised on £80bn of gains. This is attributed to rushed sales of buy-to-let homes and growing house prices as an all-t

Phone scam reports have fallen by 84% in Scotland over the last year, new regional data from HMRC has revealed. In Scotland, 384 phone scams were reported to HMRC in June this year compared to 2432 in June 2021. People aged between 25 and 34 appear to be most affected by scams in the region, with 94

The way businesses file Value Added Tax (VAT) returns has now changed, as part of Making Tax Digital (MTD), now HMRC is urging businesses in Scotland to join over 1.7 million taxpayers who are already benefitting from MTD to make the change. From 1 April 2022, MTD for VAT became mandatory for all VA

Not a single company has been prosecuted by HMRC under corporate tax evasion powers introduced five years ago. An offence for companies failing to stop those associated with the business from enabling tax evasion came into force in September 2017 under the Criminal Finances Act.

More than 33,600 customers have successfully used the HMRC app to renew their tax credits claim so far this year, a 39% increase on last year.   HM Revenue and Customs (HMRC) is encouraging more customers to use the app, ahead of the 31st July deadline, as it is a quick and easy way to get

British billionaire and former chief executive of Formula One Group, Bernie Ecclestone, has been charged with fraud, allegedly hiding more than £400 million from the UK government.