Check your pension savings annual allowance

HMRC have updated their guidance on the rules for carrying forward the unused pension savings annual allowance, together with a calculator on their website. For most taxpayers, the maximum amount of pension savings that qualifies for tax relief each tax year is...

Time to declare offshore income gains and assets, warns HMRC

HMRC is uring UK taxpayers to come forward and declare any foreign income or profits on offshore assess before 30 September to avoid higher tax penalties. New legislation called ‘Requirement to Correct’ requires UK taxpayers to notify HMRC about any...

What is the 2019 loan charge?

This is a tax charge on any outstanding loans that exist as a result of a disguised remuneration tax avoidance scheme. It applies to any loans that were taken out under a disguised remuneration scheme since 6 April 1999. The most common schemes were Employee Funded...

Making tax digital for VAT guidance issued

HMRC have now issued their detailed guidance on the digital record keeping and return requirements for Making Tax Digital (MTD) for VAT. VAT Notice 700/22 clarifies that spreadsheets may still be used to keep business records provided that there is bridging software...

Ask Alexa to contact HMRC for help

HMRC has launched new and innovative technology to help more than 3 million customers renew their tax credits. HMRC  has developed a customer-focused service through Amazon Alexa specifically for those seeking help with their tax credits renewals. Customers with...