Latest News
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HMRC increases late payment interest again
VAT, Business Tax, Personal TaxHMRC has increased the rate of late payment interest for the second time in two months. In light of the reprieve for late filing penalties, do people need to worry?
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Criticism of Finance Bill leads to amended basis period transitional rules
Business TaxFrom April 2024, sole traders and partners will be taxed based on the profits earned during the tax year, as opposed to the profits for the basis period ending during the tax year. The draft rules were initially criticised, so an amendment has been made. What’s the full story?
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Working from home: are the tax breaks being axed in April?
Personal TaxAs a result of the coronavirus pandemic, the government relaxed the rules regarding claiming relief for working from home back in 2020. This relaxation ends in April 2022, so what will the position be after that?
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Taxpayer denied £80k SDLT relief
Personal TaxThe Upper Tribunal has dismissed an appeal on the availability of Multiple Dwellings Relief worth £80,000 on a high value property in London. Why didn’t it qualify?
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HMRC's new P11D filing system
Business TaxMany smaller businesses use HMRC’s interactive PDF to file their P11D forms each year. However, this won’t be available for the 2021/22 year onwards. If that includes you, how will you report your figures in the future?
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Government to close business rates loophole
Business TaxMany second home owners use a loophole to avoid council tax on the property. However, the government has announced that new rules will apply to prevent abuse from April next year. What’s going on?
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