The tax gap – the difference between the amount of tax that should be paid and what is actually paid – has shrunk to just 5.6 per cent.
The length taken to settle HM Revenue & Customs (HMRC) tax investigations reached an all-time high in March 2019.
HM Revenue and Customs (HMRC) has recently withdrawn an appeal in a key court case over a 55 per cent charge it wanted to levy.
According to new research conducted by the National Centre for Social Research (NatCen) and the Institute for Fiscal Studies (IFS), only one in four people who make financial gifts are aware of the inheritance tax (IHT) risks.
HM Revenue & Customs (HMRC) have been awarded the ruling in two cases involving disguised remuneration arrangements, reports have revealed.
According to the latest research from the Post Office, just under half (46 per cent) of workers have never checked their personal tax accounts.
As of today, UK based businesses that have a taxable turnover above the VAT threshold of £85,000 will be required to switch to the new digital tax service to report earnings and calculate VAT owed.
HM Revenue & Customs (HMRC) has warned that registration for Making Tax Digital (MTD) for VAT will take up to seven days to complete and will not be a real-time service.
Three-quarters of businesses are unaware of the corporate criminal offences relating to activity which is seen to facilitate tax evasion.
HMRC is urging parents to apply for the Tax-Free Childcare scheme, which provides government contribution on savings used to cover childcare costs.