Complex offshore tax avoidance scheme revealed
A complex tax avoidance scheme that moves income offshore has been exposed by HM Revenue and Customs (HMRC) today (29 February 2024), with anyone who has joined the arrangement warned to get out of it as soon as possible. The scheme – linked to businessman Darren Patrick-Green – involves contractors joining Singapore registered Procorre LLP to avoid paying Income Tax and National Insurance.
March is top month for Marriage Allowance claims
As the tax year draws to a close, couples who are married or in civil partnerships could be due a financial boost by sharing unused tax allowances.
HM Revenue and Customs (HMRC) has revealed March is the most popular month for Marriage Allowance applications, with almost 70,000 couples applying in March last year. And with the option to backdate their claim for the previous 4 tax years, eligib
Gang jailed for laundering £26m
A gang that sent £26 million of dirty money to Dubai after depositing criminal cash at banks a dozen times a day for nearly a year have been jailed
Tax credits recipients to receive Cost of Living Payment from today
Around 700,000 families, who receive tax credits and no other qualifying benefits, will receive their £299 Cost of Living Payment from today, 16 February 2024, to help with everyday costs.
HM Revenue and Customs (HMRC) is making the payments to eligible tax credits customers across the UK between 16 and 22 February 2024.
More than 7 million eligible UK households have already received the
Warning to Self Assessment customers as scam referrals exceed 200,000
With the Self Assessment tax deadline behind us, HM Revenue and Customs (HMRC) is warning people to be wary of bogus tax refund offers. Fraudsters could set their sights on Self Assessment customers, with more than 11.5 million submitting a tax return by last month’s deadline. Taxpayers who completed their tax return for the 2022 to 2023 tax year by the 31 January deadline might be taken in.
A record 11.5 million tax returns filed by the deadline
A record-breaking 11.5 million taxpayers submitted their Self Assessment tax returns for the 2022 to 2023 tax year by midnight on 31 January, HM Revenue and Customs (HMRC) reveals.
More than 12.1 million taxpayers were expected to file a tax return and pay any tax owed. Of those that met their obligations by the deadline, 778,068 beat the clock to complete it on 31 January, including:
Gold bars sold to repay VAT fraud
Gold bars, luxury watches and rare coins will be auctioned off to recover public money stolen in a VAT fraud. Anthony Bond, 66, from Great Missenden, Bucks, was jailed for seven-and-a-half years in April 2019 for a ‘missing trader’ VAT fraud.
Less distraction, more action! 3.8 million Self Assessments still to be filed
With only one week to go until the 31 January Self Assessment deadline, the 3.8 million people yet to file their tax return are urged to act now or risk facing a £100 penalty.
44,800 customers opt to spread the cost as tax deadline looms
As the deadline to submit a Self Assessment tax returns looms, nearly 44,800 people have sorted their tax bills totalling almost £148 million, by setting up a payment plan.
More than 7.7 million Self Assessment customers have already filed their tax return for the 2022 to 2023 tax year, but HM Revenue and Customs (HMRC) is reminding anyone who still needs to pay their tax bill should do so
HMRC make it an ‘appy New Year for jobseekers
With the New Year a popular time to change job, those seeking a career change can join the 1.2 million people a month already saving precious time with an essential app download for 2024.
Mae CThEF yn ei gwneud hi’n flwyddyn newydd ’apus i’r rheiny sy’n ceisio am waith
Gyda’r flwyddyn newydd yn adeg boblogaidd i newid swydd, gall y rhai sy’n ceisio newid gyrfa ymuno â’r 1.2 miliwn o bobl y mis sy’n arbed amser gwerthfawr yn barod, drwy lawrlwytho’r ap hanfodol hwn, ar gyfer 2024.
Tax return reminder for cryptoasset users
With use of cryptoassets growing, HM Revenue and Customs (HMRC) is urging people to avoid potential penalties and check if they need to complete a Self Assessment tax return for the 2022 to 2023 tax year.
Anyone with cryptoassets should declare any income or gains above the tax-free allowance on a tax return. Tax may be due when a person:
receives cryptoassets from employment, if the