HMRC Campaign Targets Online Sellers’ Place of Establishment
HMRC is gearing up for a new campaign to verify the place of establishment for businesses selling via online marketplaces. The tax agency has informed stakeholders, including the CIOT, that letters will soon be dispatched as part of this initiative....
File Your Self-Assessment Tax Returns Before The January 31 Deadline!
As the January 31st deadline for self-assessment tax returns inches closer, HM Revenue and Customs (HMRC) is sounding the alarm for the nearly 5.7 million customers who are yet to file their tax returns for the 2022 to 2023 tax...
HMRC Launches Campaign: UK Crypto Investors Tax Risks
In a bid to ensure tax compliance among the burgeoning crypto community in the UK, HMRC has launched a targeted campaign, sending out over 8,000 advisory letters to crypto investors as the self-assessment deadline looms. The move is part of...
31 January 2024 Deadline for Hybrid LLPs: Withdrawal and Settlement Considerations
As the 31 January 2024 deadline for Hybrid Limited Liability Partnerships (LLPs) approaches, participants are facing pivotal decisions. Recent letters from HMRC have brought attention to the ongoing scrutiny of Less Tax for Landlords, the planning provider in focus. While some seek...
HMRC’s VAT Investigations Yield £11.4bn: Uncovering Unpaid Taxes Surge
In a noteworthy surge, HMRC’s VAT investigations witnessed a 23% increase last year, as the tax authority launched a robust campaign with 104,900 probes targeting unpaid VAT. The intensified efforts, particularly focused on mid-sized businesses, resulted in the recovery of...
UK Side Hustle Tax: A Complete Guide
In the modern gig economy, side hustles have become a prevalent means of supplementing income, pursuing passions, and achieving financial goals. However, as side hustlers explore entrepreneurial endeavours, it is important to navigate the complex terrain of taxation. Before diving...
Freemasons’ £2.8m VAT Case Loss: Legal Battle
The United Grand Lodge of England (UGLE), the world’s oldest Grand Lodge of Freemasons, recently faced a setback in its appeal for a £2.8m VAT refund on membership fees. The case revolved around UGLE’s contention that it should be exempt...
Last Call: 5.7M Taxpayers on the Brink of Missing the Self Assessment Deadline
As the January 31 self assessment deadline approaches, a significant 5.7 million taxpayers find themselves in a scramble to meet their 2022/23 obligations. What adds to the challenge is the limited telephone support from HMRC, leaving many taxpayers and agents...
Claiming Child Benefits Goes Digital: Streamlined Process for Modern Parents
In a significant leap towards modernisation, HMRC has announced the digitisation for claiming child benefits, ending the era of paper applications that have persisted since the service’s inception in the 1970s. New parents can now conveniently claim child benefits online,...
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