Many taxpayers may be missing tax refunds Thousands of individuals across the UK could be entitled to money back from HMRC but may not even realise it. Every year, tax overpayments occur for various reasons, and many people never claim what they are owed. If you have changed jobs, worked part-time, stopped working, or had...
BlueCrest Capital Management is set to appear before the UK Supreme Court in a high-profile tax case involving the employment status of its members. HMRC argues that most members should be treated as salaried employees rather than self-employed partners, which could result in tax liabilities approaching £200 million. The case will focus on the interpretation...
HMRC begins direct contact with taxpayers HMRC has confirmed that the first MTD mandation letters are being issued this month, marking a major step forward in the rollout of Making Tax Digital (MTD) for Income Tax. These letters are being sent to individuals and businesses who will be required to follow MTD rules from April...
HMRC has lowered the interest charged on late self assessment tax payments, reducing the rate from 8% to 7.75%. The change reflects the link between late payment interest and the Bank of England base rate. Taxpayers who miss the 31 January deadline still face fixed penalties, followed by daily charges and further percentage-based penalties if...
The Treasury has confirmed plans to introduce new legislation that will bring cryptocurrency firms under the oversight of the Financial Conduct Authority from 2027. The proposals aim to regulate digital assets such as Bitcoin in a similar way to traditional financial products, strengthening consumer protection and improving market transparency. Ministers say the move will help...
Why HMRC Compliance 2026 Matters for Every Business As the UK continues to strengthen financial transparency and digital reporting, HMRC compliance 2026 is set to be one of the most important updates for small businesses, landlords, contractors, and limited companies. HMRC has already increased its focus on digital audit trails, accurate record-keeping, and real-time data....
Rachel Reeves has expressed frustration over a series of unauthorised leaks prior to the Budget. During a Treasury Select Committee session, the Chancellor said these leaks were “very damaging,” adding that reports which misrepresented her Budget strategy were “unacceptable.” Ms Reeves, who has vowed to prevent future occurrences, has emphasised the need for a review...
The International Tax Compliance (Amendment) Regulations 2025 compel UK investment managers and other financial institutions to register with HMRC by 31 December 2025, even if they have no reportable financial accounts. The new rules catch fund managers authorised by the Financial Conduct Authority, portfolio managers, alternative investment fund managers and other entities managing investments on a discretionary...
Introduction to the Remittance Basis Charge The 2023/24 tax year brought several important considerations for UK taxpayers who use the remittance basis. If you are a UK resident but not domiciled in the UK, understanding how this charge applies—and whether you should claim the remittance basis at all—is crucial for planning your tax return effectively. With changing...
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Copyright by CareAccountancy. All rights reserved.
