#hmrc

#hmrc

HMRC is enhancing its security capabilities by procuring advanced SIEM services to combat sophisticated cyber threats.

HMRC is seeking a new CRM vendor to enhance taxpayer interactions and streamline services.

HMRC will raise the self-assessment tax return threshold to £3,000, benefiting 300,000 taxpayers by reducing filing requirements.

HMRC's crackdown on R&D tax credits could stifle innovation, warns Mojo founder Xander Gilbert.

HMRC is criticized for failing to combat tax evasion by Chinese companies, harming UK businesses.

Many businesses and individuals in Brent and Harrow face penalties for tax evasion as HMRC names and shames them quarterly.

There is significant tax evasion within the construction industry, with 24% of tax defaulters being construction firms.

HMRC has significantly increased rewards for tax fraud tip-offs, but has been criticized for their adequacy compared to the scale of fraud.

The UK's tax reporting system lacks transparency and sufficient incentives for whistleblowers, deterring substantial reporting of tax fraud.

Brian Robson lost his IR35 case, deemed a 'disguised employee' by a tribunal, leading to a substantial tax bill.

HMRC's increased correction of R&D tax relief claims raises concerns about due process and the potential rejection of legitimate claims.

HMRC fines those who make deliberate errors on tax returns, highlighting the dangers of noncompliance among local businesses.

The feasibility of raising £6.5 billion through tax gap closure is questionable due to HMRC's staffing and training limitations.

eBay sellers must register for self-assessment by year-end to avoid severe tax penalties from HMRC.

Specialist agents may contribute to higher non-compliance rates for R&D tax credit claims, necessitating stricter oversight and examination of such submissions.

The UK government aims to simplify tax obligations by removing 300,000 taxpayers from self-assessment, improving efficiency.

The UK's tax gap has risen to almost £40 billion, prompting government measures to address this issue.

Workers must act within six months to top up their state pension by filling gaps in national insurance records before the April 2025 deadline.

Taxpayers can backdate National Insurance Contributions until April 5 to enhance their state pension.

HMRC's January 2025 tax receipts reached a record £112bn, primarily driven by a surge in income tax collections.

Tax receipts in the UK have increased by £24 billion, instilling optimism for the government after budget criticisms.

Understanding your tax code is crucial to avoid overpaying or underpaying taxes.

HMRC's tax receipts are up £11bn compared to last year, suggesting optimistic financial outlook for upcoming fiscal decisions.

Fiscal drag increases taxpayers' income tax liabilities as wages rise, but the government is projected to need significant funding to address deficits.

The UK Treasury is celebrating record tax receipts due to significant increases in income and corporation taxes for the year 2024.

Landmark ruling may offer significant inheritance tax relief for families using 'home loan' schemes.

Inheritance tax receipts have increased substantially, reaching £4.3 billion in six months, signaling potential policy changes in the upcoming budget.

Inheritance tax receipts are rising significantly, indicating more estates are becoming liable as housing prices increase.

Current thresholds for inheritance tax have remained unchanged, leading to more estates facing taxation.

Effective estate planning is becoming complex due to shrinking reliefs and rising asset values.

Inheritance tax receipts in the UK have risen to £7 billion, reflecting a growing financial burden on estates.

Over 200,000 people in the UK are missing out on Child Benefit support from HMRC, potentially losing up to £2,200 annually.

Parents must act before the August 31 deadline to avoid losing child benefits for their children aged 16-19 continuing education.

HMRC is reducing late payment interest but still charges significantly more than it pays on tax refunds.

HMRC has reduced interest on overdue tax payments to 7% following the Bank of England's rate cut, but interest on refunds remains lower.

1.1 million UK taxpayers missed the 31 January tax return deadline, facing potential penalties unless valid reasons are presented.

Many UK taxpayers prefer to file tax returns online during the festive period to avoid penalties and financial headaches.

Millions of UK taxpayers risk a £100 fine for not filing self-assessment returns by midnight, with new rules on e-commerce sales affecting reporting.

Self-assessment tax returns for the UK must be filed before January 31st to avoid penalties.

A significant number of self-employed individuals failed to file their returns on time last year.

Registration with HMRC is necessary for self-assessment, as well as gathering required documentation before filing.

The online tool provided by HMRC simplifies the filing process and ensures tax is calculated correctly.

Rise in Pay by Bank usage boosts HMRC tax payments significantly.

Pay by Bank simplifies tax payment, reducing errors and costs.

Significant growth in transactions prior to self-assessment deadline.

Side hustles are increasingly popular, but they come with tax responsibilities that need to be understood clearly.

The registration deadline for self-assessment for the 2023/24 tax year is 5th October for those with self-earned income.

Many taxpayers have not filed their self-assessment tax returns as the deadline approaches, with 5.4 million still outstanding.

5.4 million taxpayers in the UK risk penalties for not submitting self-assessment tax returns before the 31 January deadline.

HMRC reduces interest on late tax payments to 4.75%, but warns taxpayers to remain vigilant ahead of the January self-assessment deadline.

Over 44,000 callers were cut off from HMRC, raising serious concerns regarding customer service and call handling efficiency.

HMRC must acknowledge and address ongoing negative customer service feedback from taxpayers and oversight bodies.

Bryan Robson partially won his IR35 tax appeal against HMRC, shedding light on the complexities and implications of IR35 legislation.

Kaye Adams wins her ten-year dispute with HMRC, highlighting issues around employment status and IR35 tax regulations.

Freelancers using Managed Service Companies face significant tax risks and potential liabilities, as HMRC scrutinizes their arrangements.

The HMRC warns freelancers about the risks associated with Managed Service Companies (MSCs), which can lead to significant tax liabilities.

Over 214,000 families in the UK are missing out on thousands in Child Benefits support from HMRC.

Many young adults are unaware of their unclaimed Child Trust Fund accounts, with an average value of over £2,000.

HMRC added nearly 100 non-compliant umbrella companies to its list, signaling a significant rise in tax avoidance schemes.

HMRC recovered nearly £70 million in unpaid taxes from football entities through a crackdown on tax avoidance schemes.

Investigations target the misuse of dual-representation contracts and player image rights in football.

Beware of sophisticated scam letters impersonating HMRC, urging businesses to confirm financial information under false pretenses.

Criminals are using convincing tactics to impersonate HMRC, putting citizens at risk of scams.