HMRC plans to introduce a tax avoidance criminal offence risks overreach, the Chartered Institute of Taxation (CIOT) has warned. HMRC plans to create a new strict liability criminal offence for failing to disclose notifiable arrangements under the Disclosure of Tax…
UK-based holders of cryptoassets will have to provide personal details to crypto service providers or face penalties of up to £300 from HMRC. The regulations will be introduced in the UK on 1 January 2026 and are part of the…
Inheritance Tax (IHT) on pensions is the most unpopular of the tax raising measures introduced by the Labour government during its first year, according to a survey. The survey conducted by investment platform AJ Bell found that 44% of respondents…
More than one in four UK businesses have been the victim of a cyber-attack in the last year with many risking ‘sleepwalking’ into disruption, according to a new report. The survey conducted by the Royal Institution of Chartered Surveyors (RICS)…
The Windsor Framework is creating severe disruption for small businesses and fracturing the UK Internal Market, warns the Federation of Small Businesses (FSB). The Framework was negotiated as part of the UK’s exit from the EU and is intended to…
HMRC is warning those earning extra income through a side hustle to check if they need to register for self assessment and file a tax return. Side hustles can be any additional income stream, from online selling to content creation,…
The UK government is aiming to slash energy prices, unlock investment and upskill the workforce in its Industrial Strategy. The government says the Industrial Strategy was developed in partnership with business and includes targeted support for the areas of the…
HMRC has published the latest issue of the Employer Bulletin. The June issue has information on various topics, including: PAYE Settlement Agreement calculations 2024 to 2025 organised labour fraud — the supply of labour through Employment Intermediaries mandating the reporting…
The tax gap estimate was 5.3% for the 2023/24 tax year, according to the latest data from HMRC. The tax gap is the difference between what tax is expected to be paid and actually paid. HMRC collected £829.2 billion in…
HMRC has named and shamed over 500 UK employers for failing to pay the National Living Wage (NLW) or the National Minimum Wage (NMW). The employers will now be forced to repay over £7.4 million to nearly 60,000 workers who…
