Aug 11, 2021 | Personal Tax
The amount of money HMRC collected from capital gains tax (CGT) receipts hit a record high in the tax year 2019/20, bringing in £9.94 billion, figures from HMRC show. Receipts were £243 million higher than 2018/19 when £9.7bn was collected, and higher too than in...
Jul 22, 2021 | Business TaxPersonal Tax
The UK public borrowed £22.8 billion in June 2021, the highest level in the month in any year second only to June 2020, figures from the Office for National Statistics (ONS) show. It follows May's borrowing figure of £24.3bn, suggesting that the reliance on borrowing...
Jul 5, 2021 | Personal Tax
HMRC is reminding tax credits customers they have one month left to renew their tax credits claims ahead of the 31 July 2021 deadline. In a press release from 1 July, it said that around 440,000 customers were still to make their claims. Over 2.5 million annual tax...
Jun 30, 2021 | Personal Tax
The temporary stamp duty land tax (SDLT) holiday will start tapering off on 1 July 2021 as the UK continues its gradual easing of COVID-19 restrictions. Introduced by Chancellor Rishi Sunak on 8 July 2020, the SDLT holiday saw the tax-free threshold in England and...
Jun 2, 2021 | Personal Tax
Parents often try to take advantage of the finer details of inheritance tax (IHT) by giving property and money to their children as tax-free gifts. Some may have been using it incorrectly, however, prompting HMRC to strip the break from parents to the tune of £624...
