Tax / HMRC rushes out guidance on new AML regulations

HMRC has published outline guidance on the changes to the regulations on money laundering and terrorist financing, which have been extended to cover lettings agents and art dealers from mid-January, with more detailed information set to follow

Tax / Norton Motorbikes faces £300k tax bill

Classic motorbike brand, Norton, was in the insolvency court this week to try to resolve a dispute with HMRC over a demand for hundreds of thousands in tax

Tax / HMRC penalties hit £816m for late payment

Fines issued by HMRC have surged in value by nearly a third in the past three years, rising significantly faster than the amount of tax collected

Tax / News Corp wins VAT dispute at Upper Tribunal

HMRC has lost an appeal at the Upper Tribunal over zero rated VAT on digital newspapers with the publishers of The Times arguing that digital versions of its newspapers are not a service

Tax / HMRC warns 90k tax returns need clerical review

With the self assessment deadline looming, HMRC has issued a special agent update on the topic to help with last minute technical questions to avoid falling foul of over complex tax code

Tax / 5.4m yet to submit tax returns

The clock is ticking on 5.4m taxpayers who have less than a month to complete their self assessment tax returns by 31 January, with risks of tough penalties for anyone who has breached the high income child benefit charge (HICBC) £50k limit

Tax / VAT updates: January 2020

In this month’s VAT updates, Graham Elliott considers whether dating services are consultancy, a volunteer running a bar for charity and if HMRC’s enquiries service left a club in no man’s land

Tax / Over 3,000 self assessment returns filed on Christmas Day

Taxpayers decided to tick off their tax returns on Christmas Day, with 3,003 self assessment returns being filed

Tax / Tips and advice: self assessment tax returns

With one month until the self assessment deadline on 31 January, David Redfern, chief executive of DSR Tax Claims, sets out his top tips on how to avoid the most common mistakes when completing a tax return

Tax / Tax office slashes paper usage by 200m sheets since 2010

The digitisation of tax has seen HMRC reduce emissions by two thirds in a decade and slash paper use, helping them to exceed some of their environmental targets for 2020 

Tax / HMRC winding up petitions hit four-year high

The tax authorities are taking a tougher stance on companies that go bust owing large amounts of tax with over 4,000 HMRC winding up petitions filed last year

Tax / Loan charge repayments deferred until September 2020

The government has agreed to defer loan charge repayment date to September 2020 in a move which will see 11,000 affected taxpayers removed from the tax clawback following the release of the Amyas review

Tax / Dixons loses £1.8m VAT claim on bouncing cheques

Retail chain Dixons has failed at a First Tier Tribunal (FTT) appeal in a bid to reclaim £1.8m of overpaid VAT on cheques which had been dishonoured, on the basis it was out of time for a refund

Tax / HMRC raises £95m through taxpayer plea bargains

HMRC is less keen to enter into plea bargain style agreements in tax avoidance cases, because it now has more taxpayer data available even though each case generates over £200,000 

Tax / HMRC faces 460k requests for income tax refunds

Around 460,000 people chased HMRC for refunds on overpaid income tax in the year 2018/19, according to an FOI request by insurance company, Royal London