UK ‘tax gap’ at record low, figures reveal

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.

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Time taken to settle HMRC tax investigations reaches record length

The length taken to settle HM Revenue & Customs (HMRC) tax investigations reached an all-time high in March 2019.

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HMRC backs down from pension tax case

HM Revenue and Customs (HMRC) has recently withdrawn an appeal in a key court case over a 55 per cent charge it wanted to levy.

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Are you aware of the inheritance tax risks associated with gifting?

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.

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HMRC wins disguised remuneration disputes

HM Revenue & Customs (HMRC) have been awarded the ruling in two cases involving disguised remuneration arrangements, reports have revealed. 

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Workers could be missing out by not checking personal tax accounts

According to the latest research from the Post Office, just under half (46 per cent) of workers have never checked their personal tax accounts.

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Making tax digital is live today, yet one million businesses are not registered

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.

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HMRC reveals MTD registration takes seven working days

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.

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Many businesses unaware of the criminal offences associated with tax evasion

Three-quarters of businesses are unaware of the corporate criminal offences relating to activity which is seen to facilitate tax evasion.

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Government scheme aids families with childcare costs

HMRC is urging parents to apply for the Tax-Free Childcare scheme, which provides government contribution on savings used to cover childcare costs.

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