Penalties waived for tax returns filed before 28 February

Penalties waived for tax returns filed before 28 February

Penalties will not be issued to taxpayers unable to meet the 31 January self-assessment filing deadline, if they file by 28 February 2021. Regardless of this latest announcement, those who can meet the 31 January deadline are encouraged to do

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Van vs. car: what are the tax implications?

Van vs. car: what are the tax implications?

Back in August 2019, we commented on a tax case where a van provided to employees was reclassified as a car. The case, involving Coca-Cola, shines a light on the issues associated with the provision of vehicles to employees and,

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Taxable expenses and benefits guidance updated ahead of P11D deadline

Taxable expenses and benefits guidance updated ahead of P11D deadline

Ahead of the P11D and P11D(b) deadline on 6 July, and in light of Coronavirus, the Government has updated its taxable expenses and benefits guidance. If you provided benefits in kind or non-exempt expenses to employees during the 2019/20 tax

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Lifetime ISA withdrawals penalty temporarily reduced

Lifetime ISA withdrawals penalty temporarily reduced

The Government has confirmed that the penalty for early Lifetime ISA withdrawals has been reduced, in response to the Coronavirus pandemic. With thousands of individuals on lower incomes as a result, many are needing to access savings to support themselves.

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What triggers a tax investigation?

What triggers a tax investigation?

Since 2010, HM Revenue & Customs’ (HMRC) total revenue from tax has increased year-on-year and in 2016-17 reached £574.9bn[1], with £28.9bn of this generated as a result of compliance activities[2]. These figures demonstrate that HMRC has, in recent years, taken

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Self-Assessment tax return: less fuss if you file early

Self-Assessment tax return: less fuss if you file early

We know that just the words ‘self-assessment tax return’ uttered in succession can induce feelings of trepidation in those required to file one. This often leads to a reluctance to tackle the task at hand, head-on. Though the 31st January

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Year-end tax planning: No time like the present

This week will see the end of the 2017/18 financial year on 5 April, as we transition into 2018/19. Ahead of the 6 April, you should be looking to tie up any lingering loose ends and aspiring to ensure that

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