Online Seller Tax Regulations: New Reporting Rules for Platforms like Airbnb, eBay, and Vinted
Are you earning from online ventures like selling clothes or renting out your space? Brace yourself for tighter online seller tax regulations starting January 1, as platforms like Vinted, Airbnb, and eBay are now mandated to share transaction details with...
Tribunal Ruling Exposes Scheme to Cut SDLT Bills
In a recent ruling by the Upper Tribunal, property owners utilising a tax avoidance scheme to cut Stamp Duty Land Tax (SDLT) bills have been held liable. Dating back to property purchases as early as 2010, buyers employed a marketed...
Navigating Side Hustle Taxes: What You Need to Know
In today’s digital age, the world of side hustles is thriving, with social media platforms and online marketplaces providing individuals with unprecedented opportunities to turn their passions into income. Whether you’re selling vintage finds on Depop or renting out a...
Bolt’s Legal Victory: Potential £500M Repayment for Uber
In a significant turn of events, Estonian start-up Bolt has secured a legal triumph against HM Revenue and Customs (HMRC) in a tax tribunal, raising the possibility of Uber reclaiming almost £500 million. This win comes as a boost for...
TOMS VAT Scheme Dispute Resolved: Sonder Europe Limited’s Victory
In a recent legal battle between Sonder Europe Limited (Sonder) and The Commissioners for His Majesty’s Revenue and Customs (HMRC), the focus was on the Tour Operators Margin Scheme (TOMS), a special TOMS VAT scheme applicable to specific services provided...
HMRC Phone Services See Changes Amid Tax Filing Season Surge
In response to an overwhelming surge in demand during the tax filing season, new changes have been announced to the HMRC phone services for agents and accountants, specifically those related to self-assessment repayments. The sudden shift, occurring just a week...
Jonathan Ralph v HMRC: Multiple Dwellings Relief (MDR) and SDLT Analysis
The recent case of Jonathan Ralph v. The Commissioners for Her Majesty’s Revenue and Customs raises pivotal questions surrounding the eligibility of Multiple Dwellings Relief (MDR) for Stamp Duty Land Tax (SDLT) on the acquisition of a property. This analysis...
Inaccurate Self-Assessment Tax Returns Leaves Property Owner with £100k Penalties
Property owner Sunday Salokun faces substantial tax and penalty payments following a Capital Gains Tax case, highlighting the repercussions of inaccurate self-assessment tax returns and undisclosed property disposals. The case emphasizes the importance of compliance with tax regulations and seeking...
Incorporation Relief Letter from HMRC – Capital Gains Tax for Property Businesses
HMRC's targeted letter campaign aims to address specific taxpayers who reported no Capital Gains Tax after incorporating their property businesses. Emphasizing accuracy in calculations, the letter urges recipients to verify their Incorporation Relief claims, seek professional advice if uncertain, and...
