July saw the publication of the long-awaited second report on inheritance tax (IHT) from the Office of Tax Simplification (OTS) with a range of useful proposals. Focused on simplifying the... read more →
HMRC did not collect 5.6% of the tax revenue due for 2017/18 according to its annual report on the tax gap. And the biggest increase in shortfall was from smaller... read more →
Around 6,000 parents have had their penalties cancelled for failure to notify HMRC that they were liable for the high income child benefit charge (HICBC). This is unlikely to be... read more →
The phrase ‘define your terms’ could have been invented for the benefit-in-kind rules around company cars. A recent case that ended up in the Upper Tribunal between Coca-Cola and HMRC... read more →
The controversy surrounding the loan charge deadline is a reminder of the dangers of aggressive tax planning. If you were offered a way of being paid a ‘salary’ that involved... read more →
Despite Parliament voting against leaving the EU with no deal, this does not mean the risk of a no deal has entirely disappeared. Forward planning in these circumstances is both... read more →
As part of a compliance check into the tax returns of two company directors, the information notices issued by HMRC included a request to see private bank statements as well... read more →
HMRC has warned that self-assessment penalty notices for 2017/18 may not be issued until the end of April. The £100 penalties are normally issued in February. The deadline for submitting... read more →
There has been a dramatic increase in the amount of disputed tax collected by HMRC through mediation, according to research by law firm RPC. According to RPC, £40.8 million was... read more →
The Office of Tax Simplification (OTS) has published the first part of its inheritance tax (IHT) simplification review. The report highlights a variety of issues with the current IHT system:... read more →
