Public Accounts Committee report criticises MTD programme

HMRC has lost sight of needing to put taxpayers at the heart of changes to the tax system, warns PAC. The House of Commons Public Accounts Committee (PAC) released its report Progress with Making Tax Digital on 24 November. The report expresses concerns that the additional burdens of Making Tax Digital (MTD) will make tax […]

UK government responds to venture capital reliefs report

The response suggests that the current sunset clauses for the enterprise investment scheme (EIS) and venture capital trusts (VCTs) will be extended beyond 2025. However, the response also pushes back on some of the committee’s other recommendations, including extending the company age and funding limits for these schemes. The initial report was published by the […]

Adjudicator’s report raises concerns over HMRC’s service

The Adjudicator’s annual report highlights that HMRC’s complaints handling performance has not fully recovered post pandemic. A large number of complaints are raised prematurely by those who have been unable to successfully navigate HMRC’s internal complaints system. The Adjudicator’s Office Annual Report 2023 is the seventh and final report by Helen Magarry, who left at […]

How to identify and report scams to HMRC

HMRC has issued a scam warning to individuals who receive tax credits, urging them to be alert to people trying to steal their information. ICAEW’s Tax Faculty recaps how to identify and report a scam to HMRC. Over recent years, the number of scam messages purporting to come from HMRC has increased. Such scams may […]

Opportunity to report UK property disposals on SA return only

Vendors disposing of UK residential property late in the tax year may be able to report via their self assessment tax return only, paying by 31 January, if they submit the return quickly enough. Normally when an individual sells a UK residential property at a gain, they are required to submit a capital gains tax […]

HMRC issues report on financial institution notice powers

HMRC’s report covers the impact and effectiveness of HMRC’s latest information power and highlights two potential uses not envisaged during the consultation. The information power was introduced by Finance Act 2021. It gives HMRC the ability to request information from financial institutions that it reasonably requires for the purpose of either checking the tax position […]

OTS report highlights tax changes for a modern working world

The final report from the Office of Tax Simplification (OTS) sets out findings on hybrid and distance working. In the face of evolving modern working practices, respondents call for administration to be streamlined, policy conditions to be eased and for clearer guidance from HMRC. The OTS has released its final report. The report considers UK […]