Tax data

Tax / MPs slam HMRC’s out of date tech

MPs have criticised HMRC’s response to the Covid-19 crisis, claiming some groups of taxpayers have been unfairly excluded from support packages, while the department’s strategy for property and IT systems has been shown to be wanting

Tax / HMRC: tax returners spread £69m with Time to Pay plan

Almost 25,000 self assessment taxpayers have set up an online payment plan to manage their tax liabilities in up to 12 monthly instalments, totalling £69.1m, HMRC has revealed

Tax / Proposals to widen HMRC’s information gathering powers ‘flawed’

Plans to increase HMRC’s civil information powers have been sharply criticised as ‘flawed’ in a House of Lords report, which also calls for tougher action on a ‘hardcore’ of tax avoidance promotors

Tax / HMRC penalty payments increase by 62%

HMRC penalties for taxpayers’ compliance failings are on the rise once more, following a sharp drop at the start of lockdown, according to research by UHY Hacker Young

Tax / Tax updates 2020 part 1: personal

In a round-up of the biggest personal tax stories of the year, we look at all the non-coronavirus news, including a potential wealth tax, CGT charges on second home sales, ‘deliberate’ errors, fall in IHT receipts, buy-to-let tax hikes and pension tax relief admin discrepancy

Tax / IR35 tool fails to deliver result in 19% of cases

With reforms to the off payroll working regulations set to be introduced to the private sector in April next year, HMRC’s online tool for determining IR35 status has failed to produce a definite answer in almost one in five cases over the past year

Tax / £13.8bn at risk in FTSE 100 tax disputes

FTSE 100 companies face having to pay out £13.8bn as a result of tax disputes with tax authorities globally, according to research by Thomson Reuters

Tax / UK urged to keep EU topping tourism tax cut

The UK is doing more to help its tourism industry than other European countries, according to study by UHY, as UK tourists pay just 7.8% in tax on a typical daily spend compared to a European average of 11.3%

Tax / OECD tax revenues fall for the first time in a decade

Tax revenues fell across the OECD for the first time in ten years during 2019, with a much larger decrease expected in as Covid-19 drives down economic activity and consumption tax take

Tax / HMRC whistleblower payments up 63%

HMRC’s payments to whistleblowers reporting tax evasion have ballooned 63% in the past year to hit £473,000, but remain very modest compared to the US approach to wrongdoing, according to analysis of the tax department’s annual report by BDO

Tax / Covid-19 spurs working from home tax relief claims

With up to £124 a year available as tax relief, it is perhaps not surprising that some 54,800 working from home tax relief claims were made through HMRC’s new online portal in the first 11 days of operation, writes Philip Smith

Tax / Wales raises £300m in Tax Revenue

The Welsh Revenue Authority (WRA) reported £300m tax raised during the last financial year in its annual report, this is the first time the national revenue raising body has reported on delivery against its Corporate Plan 2019 to 2022

Tax / Surrey’s stockbroker belt is UK income tax hotspot

The ‘stockbroker belt’ dominates the ranking of the UK’s top ten towns with the biggest income tax bills, with taxpayers in these areas paying triple the UK average, according to research by UHY Hacker Young

Tax / Inheritance tax receipts drop for first time in 10 years

Inheritance tax receipts (IHT) have dipped for the first time in a decade, reversing a long term trend, and prompting renewed calls for a change to the regime

Tax / Tax gap of £31bn shows downwards trend

The tax gap, which is the difference between tax that should be paid and what is actually paid, has fallen to 4.7%, its lowest recorded rate, according to HMRC estimates
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