Simple assessment: not so simple perhaps?
From HMRC’s point of view, there are three main ways an individual can be assessed to income tax:
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That’s of interest (VAT)
Late payment interest is charged on underpaid taxes in order to represent ‘commercial restitution’; that is to compensate the Exchequer for the loss of the use of monies during the period the tax h
Using a simplified VAT scheme could unexpectedly trigger Making Tax Digital for Income Tax compliance
The 2024/25 tax year is effectively the ‘base year’ for triggering Making Tax Digital (MTD) for Income Tax compliance from 6 April 2026.
From exempt to taxable: adding VAT to private school fees
The proposal to remove the VAT exemption (Item 1, Group 6, Schedule 9 to the VAT Act 1994) on private school fees was announced in the Labour Party’s election manifesto in 2019, and repea
VAT treatment of private hire vehicles: ATT response
The consultation, first launched in April 2024, looks at the potential tax impacts of the earlier Uber Britannia Limited v Sefton Borough Council and Uber London Limited v Transport fo
State pension and the annual taxable figure
LITRG is hearing from more and more people who are unsure about their state pension tax obligations.
The Penalties for Failure to Pay Tax (Assessments) Regulations 2024
Currently, the legislation allows HMRC to assess the second late payment penalty once, when the amount of outstanding tax is paid in full, within a two-year assessment time limit.
HMRC one to many agent letters: guidance for CIOT members
In recent years, HMRC have been increasing their use of one to many (OTM) letters in their compliance approach.
Archiving of HMRC manuals
HMRC say that Ocelot is more user-friendly for caseworkers, setting out information on a single platform with task-based procedural guidance that is easier to follow than the manual format.