Taxpayers reported over 144,000 scams last year, up from 123,000. With self-assessment tax returns due by 31 January 2025, fraudsters may target individuals with fake tax refund offers or payment demands. HMRC warns it never threatens legal action via voicemail…

The recent Budget signifies a pivotal policy shift, particularly in the government’s approach to enhancing revenue collection and tackling tax evasion. A key focus of this strategy is bolstering the capabilities of HM Revenue and Customs (HMRC). Recognizing the critical…

Inheritance tax Introduction to Inheritance tax Inheritance tax (IHT), introduced in the 1986 Finance Act and governed by the Inheritance Tax Act of 1984, replaced the Capital Transfer Tax and Estate Duty. IHT accounts for around £5.5 billion of government…

Beginning in April 2025, double cab pick-ups (DCPUs) with a payload of one tonne or more will be treated as cars for tax purposes. This reclassification will impact capital allowances, benefit-in-kind (BIK) rates, and some business profit deductions, leading to…

According to new research from Tax Experts, nearly half of business owners would consider moving their companies to another country if tax rates are raised in the upcoming Budget. This finding is based on a UK-wide survey of 500 business…

HM Revenue and Customs (HMRC) is reminding UK residents of an important deadline: individuals have until 5 April 2025 to address any gaps in their National Insurance (NI) contributions dating back to 2006. By filling these gaps, people can increase…

  Her Majesty's Revenue and Customs (HMRC) is set to implement new regulations regarding the process of claiming tax relief on employment-related expenses, primarily in response to growing concerns over an increase in ineligible or incorrect claims. Starting from 14…

In 2022-23, R&D tax relief claims saw a notable shift, with a decrease in the number of claims but a slight increase in the total amount of relief granted. The overall relief claimed rose by 1%, reaching £7.5 billion. However,…

A report claims that non-dom tax reforms could cost the UK £1 billion in lost tax due to people leaving. However, this has been challenged because the survey used was too small and possibly unreliable, making the £1 billion figure…

HMRC checking remittance basis claims The Chartered Institute of Taxation (CIOT) reports that HMRC's wealthy team is writing to a select number of taxpayers who should have paid the remittance basis charge in 2022-23. Different letters are being sent if…