HMRC Downtime Announced for Essential Services in February 2024
In a recent update from His Majesty’s Revenue and Customs (HMRC), a scheduled maintenance period has been announced, impacting several key services. The planned HMRC downtime is set to occur on specific dates in February 2024, affecting crucial functions related to VAT...
One to Many Letter: Undeclared Distributions by HMRC
HMRC’s proactive approach unfolds with a targeted One to Many letter campaign, spotlighting taxpayers potentially overlooking income from distributions or dividends. Precision analysis of company accounts guides the identification of individuals facing potential reporting gaps. Unveiling Financial Oversight Embarking on...
Tax Returns Soar: A Record 11.5 Million Filed by Deadline
A historic achievement unfolded as 11.5 million taxpayers successfully submitted their Self Assessment tax returns for the 2022 to 2023 tax year, setting a new record, according to the latest revelation from HM Revenue and Customs (HMRC). Successful Tax Returns...
Online Agent Authorisation: HMRC Stops Service for VAT Clients
HMRC is discontinuing the legacy VAT for agents’ registration feature on the Online Agent Authorisation (OAA) service starting February 16, 2024. Agents seeking VAT representation authorisation must transition to the Agent Services Account (ASA) using a digital handshake. Transition to...
HMRC Tax Investigations: £89 Million Recovered through COP 9
In the last year, HMRC tax investigations have intensified, conducting 1,091 investigations under COP8 and COP9. The results were significant, with a total revenue of £161.4 million, comprising £89 million from investigations and £72.4 million from COP8 probes. Tax Investigations...
Self Assessment Tax Return Submission For Last Minute Filers
Navigating the intricacies of last-minute Self Assessment Tax Return Submission, especially close to HMRC’s 31st January deadline, can be a daunting task. In this guide, we provide essential advice to ensure a smooth filing process and help you meet the self assessment...
Self Assessment Penalties: When and How to Appeal
HMRC provides guidance on the process of appealing against self assessment penalties for late filing or delayed payment in individual or partnership tax returns. Understanding Self Assessment Penalty Issuance HMRC issues penalty notices in cases where individuals or partnerships miss...
Self-Assessment Deadline Countdown: 3.8 Million Returns Still Outstanding
As the 31 January Self-Assessment deadline approaches, 3.8 million individuals are yet to file their tax returns, facing a potential £100 penalty. HM Revenue and Customs (HMRC) urges prompt action to avoid penalties and provides insights into meeting the deadline,...
Essential Tips for Every Buy-to-Let Landlord Filing 2022-23 Tax Returns
The deadline for filing your self-assessment tax return is 31st January 2024, meaning that it is right around the corner. This also means that every buy-to-let landlord must act swiftly to avoid penalties. Here are crucial tips for navigating the tax...
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