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How marriage tax perk can save up to £190k


Sarah Coles, of pension provider Hargreaves Lansdown, estimates that a typical couple married for 50 years could benefit by as much as £190,000, even accounting for the £27,000 average cost of a wedding, by making use of the marriage allowance....

HMRC apologises to homeless man fined £1,600 for tax late return


A judge has overturned £1,600 in fines issued by HMRC to homeless man Krzysztof Pokorowski for filing a tax return late. He did not receive letters from HMRC because he had been thrown out of his home and all his belongings, including tax records, had been lost or stolen. Judge Nicholas Aleksander...

HMRC scolded after fining homeless man over late tax return


HMRC attempted to fine a homeless man £1,600 for filing his tax return late, a court has heard. Keith Gordon of Temple Tax Chambers said the case raised questions over HMRC’s claims that it can identify vulnerable taxpayers, though Phil Manley, of DSW Tax Resolution, said: “They are clearly foc...

Government slammed over lack of no-deal support for SMEs


The Institute of Directors has slammed the Government for being slow to support SMEs in preparing for a no-deal Brexit. Allie Renison, the Institute’s Head of EU and Trade Policy said, “the EU sent out documents on what you should do with a no deal at least six months to possibly a year before t...

Call for digital newspapers to be VAT exempt


A Government-commissioned report has recommended that digital news services should have the same VAT exemption as printed papers in order to help support journalism. The Times points out that last year News UK brought a case against HMRC arguing that its daily tablet and mobile phone editions should...

Play fast and loose with pensions and you’ll face seven years in jail


Amber Rudd will this week announce new powers to impose unlimited fines and seven-year prison sentences on bosses who mismanage pension funds. The new offence of “wilful or reckless behaviour in relation to a pension scheme” is designed to tackle "Philip Green-style pension scandals". Writing in...

Vineyards will raise a glass to HMRC


HMRC has updated guidance on what constitutes agricultural use of land for inheritance tax purposes, with the new rules meaning that land where grapes or apples are grown to produce wine and cider can be passed on free of the levy. Richard Crane of BKL said the move “may be seen as a significant e...

Small firms in digital tax warning


MPs have been warned that HMRC’s Making Tax Digital initiative – which will see VAT-registered firms with an annual turnover of more than £85,000 filing tax returns online from April 1 – will hit small businesses, creating "very serious problems for a lot of companies". Martin McTague, policy...

SME VAT investigations pull in extra £3.75bn


HMRC collected an extra £3.75bn from SMEs last year through investigations into the underpayment of VAT, with this total marking a 12% increase on the previous year. PfP says this extra revenue made up half of all revenue collected through investigations into SMEs in 2017/18. It added that VAT rece...

Late payers with reasonable excuses urged to contest fines


The Low Incomes Tax Reform Group has urged taxpayers with a "reasonable excuse" for filing their tax return late to contest HMRC's automatic £100 penalty, noting that reasonable excuses include unforeseen work pressure, physical or mental disability, and serious problems with online filing....

HMRC hands back £402m to pension savers


HMRC has had to pay back £402m to 174,000 savers - an average of £2,312 each - after applying an emergency tax code to withdrawals from pension pots. With people aged 55 or more able to withdraw up to 25% of their pension pot free of tax under pension freedoms introduced in April 2015, those makin...

Record number of self-assessments


HMRC says almost three-quarters of a million people filed their self-assessment tax return on the January 31 deadline, with over 27,000 submitting returns online in the hour before midnight while 700,000 people missed the deadline. The figures show that a record 93.68% of self-assessments were compl...



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