HMRC
HMRC sending tax demands to taxpayers!
HMRC sending tax demands to taxpayers! HMRC are writing to hundreds of people that they believe need a prompt to pay the correct tax, for example pensioners and side hustle earners. The letters will include a detailed assessment of unpaid tax on income above the personal allowance threshold and will also inform the taxpayer on…
Read MoreNew dedicated bereavement service helpline
New dedicated bereavement service helpline HMRC have announced a new dedicated bereavement helpline to assist bereaved family members or their representatives. The new helpline allows people to report a death and settle the deceased’s tax affairs by calling the new dedicated bereavement service helpline on 0300 322 9620. Interactive Voice Response (IVR) messages direct customers…
Read MoreNational Insurance Contributions are up £5bn on same time last year!
National Insurance Contributions are up £5bn on same time last year! The overall National Insurance Contributions (NIC’s) take has increased by £11.76bn between April and June 2025, soaring to £209.6bn in just three months, with almost £5bn of this increase coming directly from employers’ NICs. Income tax, capital gains tax and NICs have accounted for…
Read MoreHMRC announces a digital PAYE system
HMRC announces a digital PAYE system Over 30 million workers across the UK will soon be able to access their taxes easier than before as HMRC unveils its PAYE service and announces around 50 measures to transform the UK’s tax and customs system. One of the first of the changes will be that taxpayers will…
Read MoreIncreasing number of scam emails and telephone calls reported
Increasing number of scam emails and telephone calls reported Companies House has reported an increase in scams as letters and telephone calls pretending to be from them have come to light. The following link that has been published, not only tells you what to do if you receive a letter or telephone call from Companies…
Read MoreHMRC releases information regarding businesses with HMRC debt
HMRC releases information regarding businesses with HMRC debt Reports from HMRC suggest that companies are struggling to pay tax bills on time with arrears to HMRC running at an average of £28bn per month, with official figures, which have been obtained from HMRC under the Freedom of Information, revealing the scale of unpaid debts owed…
Read MoreHMRC will begin to fine Crypto investors £300 for non-disclosure
HMRC will begin to fine Crypto investors £300 for non-disclosure Regulations introduced in the UK as part of Crypto-asset Reporting Framework (CARF) which require crypto platforms to share detailed information with tax authorities of clients’ crypto transactions, will come into effect from 01 January 2026. UK crypto holders will now have to provide personal details…
Read MoreHMRC is continuing to urge ‘side hustlers’ to complete tax returns
HMRC is continuing to urge ‘side hustlers’ to complete tax returns Under existing tax rules, as soon as you earn over £1,000 in a tax year through a ‘side hustle’ you will need to register with HMRC and file a self-assessment tax return. A side hustle can come in various forms, from creating monetised content,…
Read MoreLate payment penalties rise to 10%
Late payment penalties rise to 10% From this tax year, the slowest payers will face a ‘more than doubling’ in the penalty rate with no time to avoid this as the hike is already in place. As part of the push to close the tax gap, late payers will face a much tougher penalty regime…
Read MoreHMRC expected to raise £255M in late payment interest
HMRC expected to raise £255M in late payment interest HMRC recently cut the late payment interest rate to 8.25% following the Bank of England’s 0.25% base rate cut in May but it is still historically as high as it was in 2007 at the time of the financial crash. With effect from 6 April 2025,…
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