It should perhaps be no surprise given the circumstances of the pandemic that individuals and businesses might have incurred penalties for late tax payments.
HMRC’s guidance on reasonable excuses for late tax payments updated
Tax Blog
Late filing penalties waived for one month to give taxpayers more time to prepare 2020/21 tax return
Late filing and late payment penalties will be waived for one month to give taxpayers more time to prepare their 2020 to 2021 Self Assessment tax return, it has been announced. Read more
HMRC hikes late payment interest rates
The rate of interest charged on late payments by HM Revenue & Customs (HMRC) has increased, it has been announced.
Did you open presents or submit tax returns on Christmas?
According to HM Revenue & Customs (HMRC), over 31,000 Self Assessment tax returns were submitted between Christmas Eve and Boxing Day.
The Christmas gift allowance: how it works
If you are planning on treating staff this Christmas, here’s a brief guide to the tax rules for the 2021/22 financial year.
Tens of thousands of taxpayers spread out Self Assessment tax bill in wake of coronavirus pandemic
Tens of thousands of self-employed workers have used HM Revenue & Customs’ (HMRC) Time to Pay service to spread out tax bills, the latest figures have revealed.
Did you use a Bounce Back Loan to cover personal expenses during the pandemic? Act now to avoid tax consequences
If you received a Bounce Back Loan (BBL) during the coronavirus pandemic and took the cash as drawings, there may be additional tax consequences.
Making Tax Digital – what you need to know ahead of 2022-23
On 1 April 2019, HM Revenue and Customs (HMRC) introduced its new digital tax initiative – Making Tax Digital (MTD) – and its first phase, MTD for VAT.
Almost 800,000 tax scams reported to HMRC in past 12 months, figures reveal
Nearly 800,000 tax-related scams were reported to HM Revenue & Customs (HMRC) in the past 12 months, a major study has revealed.
Controversial basis period reforms delayed by one year, Government announces
Controversial changes to the basis period rules will be pushed back to 2024, the Government has announced.