Category: HMRC
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HMRC lowers late payment interest following Bank of England rate cut
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HMRC has announced the reduction of the interest imposed on late tax payments, following the recent decision of the Bank of England to reduce the basic price from 4.75 % to 4.5 %. As of February 17, taxpayers who have debts will witness a low interest rate on late payments…
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HMRC lowers late payment interest following Bank of England rate cut
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HMRC has announced the reduction of the interest imposed on late tax payments, following the recent decision of the Bank of England to reduce the basic price from 4.75 % to 4.5 %. As of February 17, taxpayers who have debts will witness a low interest rate on late payments…
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Abramovich faces fresh calls for HMRC probe over potential £1bn tax bill
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Roman Abramovich, the Russian few, is facing the renewed audit after a group of members of Parliament urged HMRC revenues and majesty to investigate allegations that it may condemn up to one billion pounds in non -paid taxes. This intervention follows the BBC reports and the investigative press office indicating…
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HMRC phone lines under fire as callers face 70-minute waits
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HMRC has come under renewed scrutiny after figures showed more than 44,000 callers were suddenly cut off while waiting last year, with some facing waiting times of up to 70 minutes. This revelation comes as millions of taxpayers prepare to file their returns before the end of the current tax…
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Bryan Robson secures partial victory in IR35 dispute with HMRC
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Former England national football team captain Bryan Robson has succeeded in most of his appeal against HMRC over alleged IR35 breaches relating to his work as Manchester United’s global ambassador between 2015/16 and 2020/21. The first-tier tax court upheld Robson’s challenge in four of the six disputed tax years, although…
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Businesses using AI to file R&D tax claims risk HMRC rejection
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Businesses that rely heavily on artificial intelligence (AI) to prepare their research and development (R&D) tax claims could find their claims rejected by HMRC if the process lacks human oversight. That’s the warning from Blick Rothenberg, a leading audit, tax and advisory business. The government’s recently announced AI Opportunities Action…
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5.4 million yet to file self-assessment tax returns, warns HMRC
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Millions of people across the UK are at risk of penalties after HMRC revealed that 5.4 million taxpayers have yet to submit their self-assessment tax returns. With the January 31 deadline fast approaching, HMRC has urged anyone who has not yet applied to do so immediately to avoid hefty fines.…
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HMRC calls on businesses to come clean about accidental R&D tax overclaims
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HM Revenue & Customs (HMRC) has introduced a new disclosure service for companies that inadvertently overstated research and development (R&D) tax relief and failed to amend their returns. The move underscores the Government’s intensified crackdown on abuse of the scheme, which is said to have cost the Treasury more than…
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How to Pay HMRC with Credit Card
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Tax season is stressful, especially when you’re staring at an HMRC bill. Maybe you wish you could have it on your device Credit card to get rewardsjust like the old days. It is frustrating that HMRC no longer accept personal credit cards directly. Fortunately, some solutions still offer perks. Navigating…
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Online traders face crucial HMRC deadline as eBay sellers risk large tax bills
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Leading audit, tax and business advisory firm Blick Rothenberg has warned that eBay sellers and other online traders could face significant tax demands if they fail to register for self-assessment by the end of the year. Under new reporting rules, platforms such as eBay must provide HMRC with details of…
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HMRC settles £4.9m tax case with Gary Lineker
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HMRC has confirmed the settlement of its high-profile IR35 tax case with Gary Lineker, ending a long-running dispute over £4.9m tax liabilities linked to his presenting work with the BBC and BT Sport. The case, which was initially ruled in favor of Lineker by the First-tier Tribunal (FTT), was set…
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HMRC settles £4.9m tax case with Gary Lineker
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HMRC has confirmed the settlement of its high-profile IR35 tax case with Gary Lineker, ending a long-running dispute over £4.9m tax liabilities linked to his presenting work with the BBC and BT Sport. The case, which was initially ruled in favor of Lineker by the First-tier Tribunal (FTT), was set…
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Freelancers warned of hefty tax bills as HMRC issues new guidance on managed service companies
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HM Revenue & Customs (HMRC) has issued new guidance warning freelancers, contractors and consultants about the risks associated with managed services companies (MSCs) – complex tax arrangements that can leave freelancers facing tax bills of up to tens of thousands of pounds. The MSC legislation, introduced in 2007, aims to…
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HMRC doubles payouts to tax whistleblowers amid calls for larger rewards
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HMRC has almost doubled the amount paid to individuals providing information about suspected tax evasion, disbursing almost £1 million (£978,256) in the 2023/24 financial year compared to £508,500 the previous year. The increase comes amid growing pressure to reduce the UK’s £39.8bn tax gap – the difference between the tax…
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Loose Women’s Kaye Adams prevails in ten-year battle with HMRC over IR35 tax dispute
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Kay Adams, presenter of ITV’s Lose Women, has won a decade-long dispute with HM Revenue & Customs (HMRC) over her employment status. After several court victories, HMRC announced it would not appeal against Adams’ latest win, ending a case that had highlighted significant criticism of the tax body’s approach to…
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HMRC imposes £13.7 million in penalties following National Minimum Wage enforcement action
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HMRC has strengthened its enforcement of compliance with the National Minimum Wage (NMW), resulting in £13.7 million in fines being imposed on employers during the 2022/23 tax year. This enforcement push follows the Government’s increased focus on NMW breaches, supported by a doubling of HMRC’s enforcement budget to £27.8 million…
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Recruiting 5,000 new HMRC compliance officers just first step in fixing UK’s tax system, says Blick Rothenberg
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With just over three weeks to go until the Budget, the Government’s plan to recruit 5,000 new compliance officers into HMRC has been welcomed by leading audit, tax and business consultancy Blick Rothenberg. However, the company warns that these recruitment efforts are only a small step towards fixing deep-rooted problems…
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HMRC urged to standardise gift tax rules across all industries, including politicians
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HMRC must implement uniform gift tax regulations to ensure they apply equally to all taxpayers, including politicians, according to tax and advisory firm Blick Rothenberg. Robert Salter, the company’s director, called for greater clarity and consistency in taxing gifts, noting that while media figures and social influencers are taxed on…
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HMRC dismissals for gross misconduct hit five-year high as 179 civil servants sacked
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HMRC sacked 179 staff for serious misconduct in 2024, the highest number in at least five years, according to data obtained through a Freedom of Information request. This represents a 43% increase compared to 2020 when 125 employees were dismissed for similar reasons, accounting for just 28% of all dismissals…