Approximately 1.8 million people in the UK are set to receive unexpected 'simple assessment' tax bills from HMRC. These bills can be triggered by various factors, including increased interest on savings or dividend payments.
Hundreds of investors have settled with HMRC as the UK's tax authority continues its crackdown on undeclared crypto gains, with international reporting rules making concealment more difficult.
The overhaul of the UK's tax authority, HMRC, has shown improvements in reducing telephone waiting times, with the harder test being the successful implementation of its wider digital transformation.
Advisers are alerting wealthy individuals about HMRC's increasing use of AI in tax crackdowns, following the authority's announcement that digital tools generated billions in tax last year.
The UK tax authority, HMRC, has intensified its clampdown on limited liability partnerships (LLPs), a corporate structure frequently used by City firms to save millions, having won a series of legal cases against such arrangements.
HMRC reports that small businesses are responsible for two-thirds of Britain's £59 billion tax shortfall, with tax evasion contributing 12 percent to last year's tax gap.
HMRC is broadening its scrutiny of payments made to founders during company sales, with tax advisers indicating that the authority suspects some payments may be disguised remuneration.
Robert Venables, a top barrister accused of cheating HMRC of £2 million through trusts and partnership structures, claimed in court that he was merely avoiding 'red tape'.
The UK's HM Revenue and Customs (HMRC) has signed a significant $233 million contract with Quantexa to undertake a major overhaul of its data systems and integrate artificial intelligence capabilities.
The UK's tax authority, HMRC, has awarded a £175 million contract to British tech firm Quantexa to deploy AI technology for identifying fraud and errors in tax returns.
HMRC has initiated a new awareness campaign to help 21-year-olds in Britain find their lost child trust funds, which hold an average balance of £2,200.
The UK's tax authorities, HMRC, have announced their decision to appeal a London tax tribunal's finding that they have been overcharging VAT on public electric car chargers for years, which had cut the rate to 5%.
The UK government is facing increasing pressure to automatically release child trust funds to young adults upon reaching the age of 21. HMRC data suggests that an estimated 750,000 young adults are currently missing out on these funds.
Advisers are warning that HMRC is unlikely to be lenient with Britons returning from Dubai who were tax exiles, as they could face significant income tax and capital gains tax liabilities.
Individuals engaged in side hustles in the UK, such as online selling or freelance work, need to understand their tax obligations, especially with new regulations requiring platforms like Vinted and eBay to share data with HMRC.
An article provides guidance on whether individuals should settle their loan charge disputes with HMRC, following a settlement opportunity announced in the last Budget.
HMRC figures reveal a record 1,000 UK taxpayers under 30 earned more than £1 million last year, marking an 11% increase attributed to influencers and tech salaries.
Airbus has been fined £6.4 million in the UK after admitting to multiple breaches of rules designed to prevent the export of sensitive goods. The manufacturer self-reported the offences to HMRC, resulting in the tax authority's largest out-of-court settlement.
The Conservative Party has requested that HMRC investigate whether Reform UK leader Nigel Farage owes tax on a £5 million gift he received from crypto billionaire Christopher Harborne.
A tax expert claims that Reform UK could be hit with a £3 million tax bill due to Nigel Farage's £5 million donation, suggesting that HMRC is likely to open an inquiry.
South Korean chipmaker SK Hynix successfully raised a record $26.5 billion in its US initial public offering, marking a significant debut for the company and testing investor appetite for AI-related stocks.
An HM Revenue and Customs (HMRC) anti-fraud crackdown that erroneously stripped 23,000 families of their child benefit failed to "adequately consider" the policy's impact, according to a report.
The UK's tax authority, HMRC, is set to impose a 22 percent tax rate on interest earned from cash held within stocks-and-shares Individual Savings Accounts (Isas).
The Institute of Chartered Accountants in England and Wales (ICAEW) has issued a warning that new HMRC reporting plans will place a significant burden on small businesses.
The UK's tax authority, HMRC, reports that its reinstated policy allowing it to take money directly from bank accounts has saved £13 million, primarily due to its strong deterrent effect.
Premier Group Recruitment went into administration with debts of £2.9m – including £647,000 owed to HMRC
A recruitment executive – who was allowed to buy back the assets of his bust company in…
Robert Venables KC, a leading London barrister, has been charged with three counts of cheating HMRC of nearly £2 million in income tax over a decade, a court was told.
Annabel Yates reports facing a 94-mile round trip to deposit a £900 HMRC cheque, citing recent changes at Lloyds Bank that have made local banking difficult.
The UK's tax authority, HMRC, is reportedly at risk of losing a £1.5 billion tax dispute with the mining giant Glencore, with details of the case remaining confidential.
The United Kingdom and France have signed a new three-year agreement aimed at reducing illegal migrant crossings in the English Channel. Under the deal, the UK will provide significant funding to France for increased enforcement and resources.
Richard Tice, leader of the Reform party, is embroiled in a controversy over his alleged failure to pay £100,000 in corporation tax. Tice has stated he is 'happy to put things right' as the party is drawn into the tax dispute.
The UK tax authority, HMRC, is set to resume an anti-fraud scheme that had previously incorrectly cut child benefits by using Home Office travel records to identify alleged fraudsters.
Greater Manchester mayor says Rayner’s criticism of planned immigration changes, which she called ‘un-British’, echoed ‘moral questions’
UK politics live – latest updates
Andy Burnham has backed stark criticism of the direction of Keir Starmer’s government by Angela Rayner after she said the very survival of the Labour party was at stake.
Rayner, the former deputy prime minister and an influential backbencher, used a speech on Tuesday night to warn that the prime minister “cannot go through...
The UK's tax authority, HMRC, has seen complaints reach a five-year high, with its 'Making Tax Digital' initiative being criticized for making tax processes more difficult for users.
A recruitment business that went bust owing £650,000 to HMRC is accused of 'phoenixism' after being bought by its former owner, who then offered staff a controversial Las Vegas trip.
Her Majesty's Revenue and Customs (HMRC) has issued 81,000 warning letters to cryptocurrency holders as part of a new tax crackdown. The letters aim to inform individuals about their tax obligations regarding crypto assets.
Digital bank Monzo has achieved a significant milestone by surpassing a landmark number of business customers, a first for a digital bank, amidst increasing online demands from HMRC on UK firms.
The managers of a trust for the grandchildren of Wilbert Awdry, author of Thomas the Tank Engine, are engaged in a court battle with HMRC over a substantial tax bill on royalties, nearly 30 years after his death.
The UK has abolished a controversial 'phantom tax' on decentralized finance (DeFi) lending, providing clarity for crypto investors. However, HMRC indicated it will continue to monitor the sector closely for other tax implications.
Dr. Chris Wales, a former top Treasury adviser, has raised concerns over HMRC's alleged plans to use artificial intelligence to track individuals' income and expenditure without their knowledge.
The UK's HMRC has introduced a new 22% tax on cash interest held within stocks and shares ISAs. Additionally, reforms include a new first-time buyer ISA with no upper age limit, reflecting the rising age of first home purchases.
HMRC has apologized for an error that led to millions of pensioners being overcharged for almost a year, with plans to fix the problem later this summer.
HMRC has issued a warning to TikTok users following the arrest of two individuals suspected of involvement in a £153 million tax scam, which allegedly utilized advertisements on the popular social media platform.
A Guardian reader recounts a frustrating experience with HMRC, which took a year to process a £150,000 tax rebate, highlighting the tax office's slow refund process compared to its swift demands for owed money.
Robert Venables KC, a prominent UK tax lawyer, has been accused of dodging a £2 million tax bill to HMRC by channeling his earnings through the RVQC Partnership.
Former UK Deputy Prime Minister Angela Rayner has been cleared by HMRC of any wrongdoing regarding her tax affairs. The investigation concluded with her settling a tax bill, prompting her to call for Labour to deliver change.
The HMRC is initiating a campaign to help thousands of young people claim over £2,000 each from more than £1.5 billion in currently unclaimed trust funds.
Hundreds of thousands of people in the UK are missing out on an average of £855 as over 730,000 tax refunds remain unclaimed, prompting HMRC to urge households to check their eligibility.
More than 170,000 individuals have reportedly missed out on an £800 HMRC tax rebate, attributed to a 'problematic' system that issued over 1.7 million cheques last year.
A controversial UK government anti-fraud scheme, which previously incorrectly stripped thousands of parents of child benefits by misusing Home Office travel records, is set to resume.
The UK's public spending watchdog has initiated an investigation into a controversial government anti-fraud scheme by HMRC, which incorrectly identified thousands of parents as claiming child benefits while living abroad, based on flawed Home Office travel records.
A firm that went bust owing a significant sum to tax authorities is offering staff a Las Vegas trip after being bought by its former owner, raising concerns about 'phoenixism'.