HMRC
VAT – Over 500,000 taxpayers fined for late VAT payments
VAT – Over 500,000 taxpayers fined for late VAT payments For context there are approximately 2.3m entities registered for VAT in the UK. Therefore, the high level of VAT fines means the equivalent of 25% of registered VAT companies and sole traders have been fined by HMRC for late payments. A total of 582,000 fines…
Read MoreVAT Domestic reverse charge – HMRC advises of further tax enquiries
VAT Domestic reverse charge – HMRC advises of further tax enquiries The construction sector has been working with the VAT domestic reverse charge (DRC) since March 2021, but lately it seems HMRC’s attitude towards compliance has changed dramatically. The scheme, which was introduced to combat VAT fraud, with a promise of ‘light touch’ enforcement, is…
Read MoreDirectors Loan Accounts (DLA’S) – HMRC clamp down
Directors Loan Accounts (DLA’S) – HMRC clamp down HMRC is planning draconian reporting requirements on director’s loan accounts and participator loans to connected companies. This move is designed to target the £14.7bn small business tax gap, which is said to have hit a record high in 2024, which now represents 40% of small business corporation…
Read MoreFree HMRC company tax return filings ended on 31 March 2026
Free HMRC company tax return filings ended on 31 March 2026 Companies House and HMRC are closing the joint online filing service on 31 March 2026 removing the free option completely. This will remove all records held in the online filing service. From 1 April 2026 companies will have to use software to file company…
Read MoreHMRC have clarified how you may be able to exit Making Tax Digital (MTD) if your income has fallen
HMRC have clarified how you may be able to exit Making Tax Digital (MTD) if your income has fallen At the eleventh hour, HMRC has clarified exit options and cessation processes. The clarification is welcome news and will affect some taxpayers who have been notified by HMRC that they must sign up to wave one…
Read MoreMaking Tax Digital (MTD) reporting while on Maternity Leave
Making Tax Digital (MTD) reporting while on Maternity Leave Mothers on maternity leave will still have to file quarterly updates under Making Tax Digital for Income Tax, even if earnings are nil, if they are in the first £50,000 threshold. HMRC has confirmed the nuances of the MTD for Income Tax rules for women on…
Read MoreSpotlight 63
Are you under the Spotlight? – Spotlight 63 Property business arrangements involving hybrid partnerships (Spotlight 63) – GOV.UK We Can Help You Put It Right If you’re a landlord who has recently become aware of Spotlight 63, you’re not alone. Many property owners are now realising that their tax position may not be as robust…
Read MoreApril 2026 – Changes to charity tax relief rules coming into place
April 2026 – Changes to charity tax relief rules coming into place From April 2026, the government will introduce changes to the rules on tainted donations, approved charitable investments, and attributable income to prevent misuse of charitable tax reliefs. These changes will affect all UK charities, Community Amateur Sports Clubs (CASCs), and donors, and the…
Read MoreHMRC publishes the penalty guidance for Making Tax Digital (MTD) for Self-Assessment
HMRC publishes the penalty guidance for Making Tax Digital (MTD) for Self-Assessment HMRC has published guidance on how penalties will be applied under MTD for Income Tax as we approach the start of the new system in April 2026. The new penalties system replaces existing penalties with a ‘points-based’ regime for late submissions, alongside separate…
Read MoreAre you a residential Landlord?
Are you a residential Landlord? From April 2027, the tax landscape for residential property becomes markedly tougher due to higher income tax rates on rental income, and a new annual surcharge on high-value homes from April 2028. For buy-to-let (BTL) landlords and high-net-worth individuals (HNWs), the cumulative effect is clear: higher holding costs, increased compliance…
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