Nov 30, 2022 | Personal Tax
The Government collected £4.1 billion of inheritance tax from April to October this year, representing an increase of £500 million compared to the year before, HMRC statistics show. The increase in inheritance tax receipts comes days after Chancellor Jeremy Hunt's...
Nov 17, 2022 | Personal Tax
Chancellor Jeremy Hunt announced several tax threshold freezes to help plug a £55 billion hole in the public finances if the Government wants to stay within its self-imposed rules on GDP and debt. Talking to the House of Commons today (17 November), the Chancellor...
Nov 11, 2022 | Business TaxGovernment AnnouncementsPersonal Tax
Due to a fault in its service, HMRC's property account service has been miscalculating some capital gains tax (CGT) bills. As a result many non-residents who use the online system are paying the wrong amount of CGT due on property sales. HMRC confirmed on its agents...
Nov 9, 2022 | Personal Tax
Customers unable to pay their self-assessment tax bill in full are paying in monthly instalments online, says HMRC. Almost 21,600 self-assessment customers have signed up to HMRC's time to pay (TTP) facility since 6 April 2022. This is an increase of around 3,900...
Nov 8, 2022 | Business TaxPAYE and NIPersonal Tax
HMRC is raising interest rates on tax debt from 22 November following the recent 0.75% increase in the Bank of England (BoE) base rate. Interest will rise to 5.5%, in line with the base rate hike. The last time the rate changed was 11 October, when it went up by 0.5%...
