In this week’s Q&A, Julian Payne, tax advisor at Croner-i, explains the key issues to consider when preparing year end accounts after changing the year end from December to June
A director has lost a First Tier Tribunal (FTT) appeal over a dispute regarding late filing penalties between 2017 and 2018, which were filed more than 1,000 days late
The former Chancellor Nadhim Zahawi has been sacked as chairman of the Conservative party following an ethics inquiry into the handling of his tax affairs
Tax agents are frustrated by the lack of consistency in the quality of HMRC advisers and want to see client tax records merged into a single sign-on account to reduce complexity
Any sole traders or partnership members who received support from the government’s Self Employed Income Support Scheme (SEISS) during Covid must include details on tax returns
Accountants are being forced to turn away thousands of taxpayers who are yet to file their self assessment tax returns, despite the deadline being less than a week away
Certain assets such as plant, watches and paintings valued below £6,000 are exempt from capital gains tax but there are some restrictions, explains Chris Thorpe, technical officer at CIOT
Following criticism of long wait times for taxpayers to get through to call centres, HMRC admitted that the average wait time has doubled to 27 minutes, but said home workers did not affect performance