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More flexibility for separating couples on the way
In 2021, the Office of Tax Simplification (OTS) recommended that the current window for separating couples to transfer assets without triggering a taxable gain should be extended. Why is the draft legislation better news for couples than first anticipated?
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HMRC wins £42k late filing penalty row
It's sometimes possible to appeal against a late filing penalty on the grounds that there was a “reasonable excuse” for the lateness. However, you have to be able to meet further conditions. How does a recent Upper Tribunal case demonstrate that a penalty can be upheld, even if there was a reasonable excuse?
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HMRC appeals to accountants for MTD pilot candidates
Earlier in 2022, the number of taxpayers eligible for the current Making Tax Digital pilot was expanded. HMRC is now actively encouraging accountants and tax advisors to refer their clients to the service. What does it mean if your advisor recommends you for the pilot?
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HMRC might want a slice of your Commonwealth Games rental income
During the Commonwealth Games many people looked for an income boost by renting property to spectators etc. If this includes you, why might you receive a letter from HMRC?
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Property gains reporting error
If you're trying to report a gain on a UK property using the 60-day return, you may hit a stumbling block that gives an error message. However, the Institute of Chartered Accountants in England and Wales (ICAEW) has found a potential solution. What’s the full story?
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Were coronavirus and childbirth reasonable excuses for lateness?
A company paid its VAT bills late. The director argued that there was a reasonable excuse due to coronavirus, and his partner giving birth. HMRC rejected this, so he appealed to the tax tribunal. What was the outcome?
