Self-employed workers in the UK have reported their struggles to acquire a mortgage, after HM Revenue & Customs (HMRC) changed the way it issues details of tax calculations and tax year overviews for submission with mortgage applications. Until recently accountants and workers themselves have been able to obtain a paper copy of form SA302 that … Continue reading →

New analysis of HM Revenue & Customs’ (HMRC’s) data has revealed that the department collected an additional £3.4 billion from small and medium-sized businesses in the tax year to April 2017.  Investigations in the 2016/17 tax year by HMRC’s compliance department saw 49 per cent of the additional revenue collected come from VAT investigations into … Continue reading →

A new online forum has been launched by HM Revenue & Customs (HMRC) which has been designed to help company owners resolve simple issues related to starting and growing a company.  The new website provides a message board, discussions and a webchat where business owners can query HMRC’s tax experts in real time.

Taxpayers across the UK will have begun to receive a simple assessment (form PA302) from HM Revenue & Customs (HMRC), which will ask for payment of tax that cannot be coded out under PAYE. A simple assessment is a tax assessment made by HMRC, which was launched with the aim of taking taxpayers out of … Continue reading →

From July this year, HM Revenue & Customs (HMRC) has been utilising its new system of dynamic coding, which allows for in-year adjustments (IYAs) of a person’s tax code. Under the new regime, codes can be adjusted by the Revenue to reflect sudden changes in an employee’s circumstances as soon as HMRC becomes aware of … Continue reading →

The Government has begun to publish a number of position papers which aim to set out how it intends to negotiate with the EU during the Brexit process. The proposals, released at the end of August, set out how the trade in goods and services between the European market and the UK should continue once … Continue reading →