Millions of people across the UK are at risk of penalties after HM Revenue & Customs (HMRC) revealed that 5.4 million taxpayers have yet to submit their self-assessment tax return.
Category: Money & Tax for the Self-Employed
Everything you need to manage money and tax as a freelancer or sole trader – from self-assessment to invoicing and cashflow.
HMRC calls on businesses to come clean about accidental R&D tax overclaims
HMRC launches new disclosure service to tackle accidental R&D tax overclaims, with firms urged to come forward if they overstated relief.
Case closed: HMRC settles £4.9m tax case with Gary Lineker
Gary Lineker and HMRC settle IR35 dispute out of court
Freelancers warned of hefty tax bills as HMRC issues new guidance on managed service companies
HMRC warns freelancers about Managed Service Companies (MSCs), complex tax setups that could lead to hefty tax bills. Learn how new guidance could impact independent workers and why vigilance is crucial.
Gary Lineker liquidates Goalhanger Films ahead of capital gains tax increase
Gary Lineker liquidates Goalhanger Films ahead of capital gains tax increases, strategically benefiting from current tax rates while focusing on the growth of Goalhanger Podcasts.
HMRC targets specialist agents in crackdown on R&D tax credit fraud
HMRC’s review finds higher non-compliance in R&D tax credit claims involving specialist agents, costing £4.1bn. Crackdown impacts genuine businesses seeking innovation funding.
Loose Women’s Kaye Adams prevails in ten-year battle with HMRC over IR35 tax dispute
Loose Women’s Kaye Adams has won her decade-long battle with HMRC over a disputed £124,000 tax bill, with the tax authority deciding not to appeal. Read more on her fight for self-employment rights.
Capital Gains Tax concerns loom over UK tech sector ahead of Autumn Budget
The UK tech sector faces growing concern over potential Capital Gains Tax rises in the upcoming Autumn Budget, with fintech leaders warning of an exodus.
Investors rush to withdraw pension funds amid fears of tax hikes in upcoming budget
Investors are pulling money from pension pots ahead of potential tax changes in Rachel Reeves’s October budget, sparking concerns about pension tax relief cuts.
HMRC imposes £13.7 million in penalties following National Minimum Wage enforcement action
HMRC identifies £13.7 million in National Minimum Wage arrears and issues penalties to employers, urging businesses to ensure compliance amidst rising enforcement activity.
Surge in voluntary liquidations sparks abuse of process concerns
A rise in voluntary liquidations is prompting concerns over potential misuse, with experts calling for stricter regulation and reintroduction of percentage fees to ensure proper scrutiny of debts.
HMRC crackdown causes 21% drop in R&D tax credit claims, stifling innovation
HMRC has reported a significant 21% drop in research and development (R&D) tax credit claims for the 2022/23 tax year, with the number of claims falling to 65,690 from 83,240 in the previous year.
Labour’s expat exit tax could drive foreign investment away from the UK, experts warn
Labour’s proposed expat exit tax has come under fire from leading audit, tax, and business advisory firm Blick Rothenberg, which warns that the policy could drive Foreign Direct Investment (FDI) away from the UK to more tax-friendly countries like France.
A Disaster for Innovation – The Research and Development Relief Perfect Storm
UK R&D tax relief enables companies undertaking innovative activities and qualifying R&D projects to claim corporation tax relief and/or tax credits on qualifying R&D expenditure.
Apple loses €13 billion tax battle in landmark EU court ruling
Apple has suffered a major setback in its long-running tax dispute with the European Union, as the European Court of Justice ruled that Ireland had granted the tech giant “unlawful state aid.”
