News

Spanish holiday home owners cautioned over post-Brexit tax impact

With the UK currently set to leave the EU by the end of January 2020, anyone who owns a Spanish holiday home needs to be prepared for the impact of Brexit on taxation

Countdown to the 31 January Self-Assessment Tax Return deadline begins

Fewer than 100 days now remain until the 31 January 2020 deadline for the online submission of Self-Assessment Tax Returns. Self-Assessment Tax Returns must be...

Newly cohabiting parents warned over new tax charge

Newly cohabiting couples, where at least one of the partners is a parent, have been warned by a leading insurer to be aware of a tax charge, if either earns more...

Pension holders to be refunded £54 million of overpaid tax

New figures released by HM Revenue & Customs (HMRC) have revealed that it handed back more than £54 million to people who had overpaid tax on pension withdrawals...

HMRC trialling self-assessment checks to help local authorities to recover council tax

HM Revenue & Customs (HMRC) has announced that it is entering into data-sharing arrangements with local authorities to help clamp down on council tax debt. In the 2017

New figures show a sharp increase in Inheritance Tax (IHT) receipts

New figures published by HM Revenue & Customs (HMRC) have revealed a significant increase in the number and value of Inheritance Tax (IHT) receipts. The figures...

Renovated homes that have been empty for two years can qualify for a reduced rate of VAT

Although a key VAT-saving measure for listed dwellings was abolished in October 2012, there are still circumstances in which a renovation project can be subject to...

Half of all SMEs make VAT return mistakes

Half of all small-medium sized enterprises (SMEs) make errors when filing their VAT returns, according to the latest research. The data also revealed that just 27...

Tax investigations reap in £13 billion for the treasury

The latest official data from HM Revenue & Customs (HMRC) shows that the actual cash collected from all tax investigations hit £13 billion in 2018/19. This was up...