ICAEW insights, technical guidance and news updates on tax measures affecting UK tax compliance and changes to contacting HMRC during the COVID-19 pandemic.
HMRC figures released for the pandemic period of 2020/21 show the tax gap held steady at 5.1% in percentage terms, but fell by £2bn in real terms as theoretical tax liabilities fell. ICAEW’s Tax Faculty looks at the key data.
Complaints about HMRC received by the independent Adjudicator fell in 2021/22 but remain above pre-pandemic levels. ICAEW’s Tax Faculty summarises the annual report.
ICAEW’s Tax Faculty summarises some essential reading for employers and payroll agents.
HMRC is promoting the benefits of early filing of tax returns including the budget payment plan.
How cases will be allocated before the First-tier Tribunal is changing from 1 June 2022. ICAEW’s Tax Faculty explains the changes.
Digital ways of working continue to transform the global tax compliance landscape, resulting in increased efficiency of tax systems and providing impetus for economic growth, finds a new report from ICAEW.
Highlights from the broader tax news for the week ending 16 March 2022, including: guidance for businesses who continued to use the Lennartz mechanism; and a warning from HMRC about sharing personal information.
Highlights from the broader tax news for the week ending 9 March 2022, including: HMRC guidance on new power; HMRC payments; refunds of VAT wrongly charged; freeport tax site designation; QAHC guidance; new VAT regulations; HMRC webinars; guidance for employers paying overseas tax; and COVID travel easement ending.
HMRC has confirmed that it will accept bulk appeals against late filing penalties where there is a COVID-19 related reasonable excuse. ICAEW’s Tax Faculty explains the process.
Companies and unincorporated businesses are taxable on COVID support grants and payments. ICAEW’s Tax Faculty provides a summary of available resources to help ensure tax returns are correctly completed.
Highlights from the broader tax news for the week ending 8 December, including: HMRC’s service to notify dormancy; an HMRC webinar about reporting COVID-19 grants on CT600s and HMRC examples concerning plastic packaging tax.
HMRC can issue notices to transfer tax liabilities of companies and limited liability partnerships to directors, shadow directors and other individuals connected with managing the business
Agent Update 90 provides a summary of guidance that HMRC has issued to help the internationally mobile and their advisers cope with restrictions imposed by the pandemic.
HMRC’s annual report for 2020-21 confirms that the pandemic impacted not only its day-to-day work, tax revenues and customer service, but has potentially put delivery of the new plastic packaging tax and updating HMRC’s telephony services, at risk. The Tax Faculty outlines the key takeaways.
This month’s top technical stories feature news on the MTD for ITSA deferment, COVID support schemes coming to an end and IR35 compliance checks for the finance and energy sectors.
Highlights from the broader tax news week ending 22 September, which includes: upcoming deadlines for final claims for SEISS grants and for bulk appeals of late-filing penalties, as well as additional HMRC support on reporting coronavirus support grants on CT600s.
HMRC figures released for the pre-pandemic period of 2019/20 show a £2bn increase in the estimated tax gap, largely attributable to an increase in the VAT gap. ICAEW’s Tax Faculty analyses the key data.
Ahead of its full annual report, HMRC has published performance statistics for 2020/21. ICAEW acknowledges what HMRC has achieved in its response to the pandemic while noting that concerns over performance persist which suggests that there are fundamental problems.
As HMRC confirms delays in processing self assessment returns with incorrectly reported SEISS grants, the Tax Faculty has published guidance for all ICAEW members on the tax issues arising from the UK’s coronavirus support schemes.
The government has published the National Insurance Contributions Bill, which legislates reliefs for employers of veterans and those operating in Freeports, as well as for the self-employed isolating due to COVID-19. The Bill will also enable upcoming changes to the DOTAS scheme to apply to national insurance avoidance.