The House of Commons Public Accounts Committee (PAC) recent enquiry into the 'HMRC's Management of Tax Debt' reveals that the PAC is not confident that HMRC has adequate plans in place in order to solve the £6.2 million tax debt crisis. It sets out its own recommendations.
SME Tax News
HMRC has updated form 64-8. Agents are advised to use the new form from 31 March 2022 on. Form 64-8 is the form used to authorise a tax agent to act on your behalf. The new form now allows a combined registration for PAYE and CIS online services
In HMRC v Tasca Tankers Limited [2022] UKUT 00088, the Upper Tribunal (UT) held that the First Tier Tribunal had been wrong to strike out an appeal on the basis of no reasonable prospect of success. The judge failed to consider HMRC's case and refused the application without a valid reason.
The Office of Tax Simplification (OTS) has published an online survey and a Call for Evidence as part of their Review of Property Income. The aim is to see if the current and often complicated regimes for the taxation of residential property can be simplified. The key area of review is the receipt of residential property income.
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This week we take a closer look at measures announced in Chancellor Rishi Sunak's 2022 Spring Statement, we have a new Agent update, late payment interest rises and list of targets in the sanctions list is expanded even further.
Chancellor Rishi Sunak made his 2022 Spring Statement on 23 March 2023. Headline grabbers were a cut in the National Insurance threshold for employees, a future cut in Income Tax and another freeze on fuel duty.
Chancellor Rishi Sunak made the following announcements on Debt Management in his Spring Statement on 23 March 2022. His ‘Debt management report’ fulfils the annual requirement in accordance with the ‘Charter for Budget Responsibility'.
Chancellor Rishi Sunak concentrated his VAT shake-up by focusing on energy-saving building materials in his Spring Statement on 23 March 2022.
Chancellor Rishi Sunak said he was looking new options to maximise the benefits offered by Capital Allowances in his Spring Statement on 23 March 2022.
Chancellor Rishi Sunak made announcements on Research & Development (R&D) in his Spring Statement on 23 March 2022, including a future shake-up to reduce abuse.