Tax - Enquiries & penalties

Recently added Tips & Advice

INVESTIGATIONS - 03.04.2024

Penalties for not reporting a tax liability

The First-tier Tribunal (FTT) recently had to decide if HMRC was right to issue tax assessments and penalties because a taxpayer had provided inadequate information about her income. What practical advice can be learned from the FTT’s ruling?
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TAX CASES - 19.03.2024

Was return notification enough to uphold late filing penalties?

Case. Ms Godliman (G) received late filing penalties for the 2017/18 and 2018/19 tax years. She had completed returns since 2013/14 late, but HMRC had cancelled the corresponding penalties. Her returns for the two years concerned showed a mix of employment and self-employment income; the latter being the reasoning for her being required to make a return. However, at the appeal G contested that she had been placed into self-assessment in error. She had undertaken work for a non-compliant employer who had not issued payslips or a P60 . ...
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PAYE ENQUIRIES - 02.03.2024

PAYE compliance check - what are your rights?

Our subscriber received a routine HMRC compliance questionnaire which he completed in full. HMRC then demanded more detailed information but without starting an investigation. Is our subscriber within his rights to refuse to supply it?
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SELF-ASSESSMENT - 20.02.2024

Pressure builds on cryptoasset owners

A national firm of accountants says HMRC is stepping up investigations relating to cryptoassets. If you own Bitcoin assets, should you be worried?
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PENALTIES - 06.02.2024

Missed the self-assessment deadline, what next?

Late filing. The normal deadline for online filing of personal self-assessment tax returns for 2022/23 was 31 January 2024. If you haven’t submitted yours or you sent it late, HMRC will automatically send you a penalty notice fining you £100 (additional penalties can apply if you further delay sending your return). You can appeal against the fine if you have a reasonable excuse for not sending it on time but this isn’t the only situation where you can ask HMRC to cancel the penalty. No requirement to file....
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VAT - 24.01.2024

Reducing VAT penalty points

HMRC’s VAT penalty system based on points has been in place for a little over a year and the first new-style fines will soon apply. If you’ve accumulated points, when might these be knocked off your record to reduce the risk of a fine?
Read more
Tax - Enquiries & penalties

Most read Tips & Advice

SELF-ASSESSMENT - 20.02.2024

Pressure builds on cryptoasset owners

A national firm of accountants says HMRC is stepping up investigations relating to cryptoassets. If you own Bitcoin assets, should you be worried?
Read more

INVESTIGATIONS - 03.04.2024

Penalties for not reporting a tax liability

The First-tier Tribunal (FTT) recently had to decide if HMRC was right to issue tax assessments and penalties because a taxpayer had provided inadequate information about her income. What practical advice can be learned from the FTT’s ruling?
Read more

VAT - 24.01.2024

Reducing VAT penalty points

HMRC’s VAT penalty system based on points has been in place for a little over a year and the first new-style fines will soon apply. If you’ve accumulated points, when might these be knocked off your record to reduce the risk of a fine?
Read more

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