Search

If an error or omission leading to a loss of tax is uncovered, a voluntary disclosure should be made to HMRC as soon as possible.

From HMRC’s point of view, there are three main ways an individual can be assessed to income tax:

From 14 October 2024, people who want to claim tax relief on employment expenses using form P87 also have to provide supporting evidence.

In the June issue of Tax Adviser, I reported on the Cooke case (‘Two DP or not two DP, that’s the problem’), where an individual was able to secure a claim for entrepreneurs’

As readers will be aware, it is usually possible to make voluntary National Insurance contributions (NICs) going back up to six tax years (SI 2001/769, reg 4(3)–(5)).

Speak to most tax advisers or accountants who interact with HMRC on a regular basis and they will be able to provide numerous examples of HMRC standards falling below what could be considered a

Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) is now less than 18 months away, with taxpayers with income over £50,000 mandated from 6 April 2026.

Without wishing to comment on the accuracy of the general public’s perception of inheritance tax, it is probably fair to say it is widely considered to be an unpopular tax.

Broadly, carried interest is the allocation of an equity fund’s profit share paid to investment managers in connection with their management activities.

The 2014 salaried members rules (‘the rules’) remove the self-employment presumption of members whom HMRC believe are effectively employees.