More than 700,000 savers could be paying too much tax after interest rates plunged to record lows. It is yet another blow for beleaguered savers already struggling to earn an income from their nest eggs. And long delays at HM Revenue & Customs (HMRC) means anyone attempting to correct their tax code and claw back … Read more
Harry Kane, Harry Maguire and Raheem Sterling ‘among England stars facing tax demands from HMRC worth tens of thousands of pounds following probe into FA’s image rights payments worth around £100,000-a-year to each player’ A HMRC probe into image rights payments to England stars may be launched The Sun claim the FA and lawyers on … Read more
House sales in the UK soared by a quarter in January – despite lockdown – as buyers make a ‘sprint finish’ to beat next month’s stamp duty holiday deadline. More than 120,000 residential property sales were recorded last month, according to new figures released by HM Revenue and Customs (HMRC). The figure is a 24.1 … Read more
I was interested to read this recent article about how HMRC are requiring people to ‘cough up’ additional amounts of tax based on what is in the majority of cases almost certainly inaccurately inflated estimations of future earnings. In short, it is what has happened in my case, involving a frighteningly large amount based on … Read more
Tax deadline put back a month: HMRC relaxes rules on tax returns amid fears coronavirus pandemic could lead to late filings and millions of fines HMRC still expects all tax payers to file their returns by Sunday but those who do not file by February 28 will no longer receive a £100 penalty The relaxation … Read more
Tax return time: HMRC issues scam warning, as self-assessment deadline looms and millions still haven’t filed 5.4m taxpayers had not completed their return as of last week HMRC warns people to look out for copycat websites and phishing scams Around 2,700 taxpayers filed their self-assessment return on Christmas Day By Ed Magnus For Thisismoney.co.uk Published: … Read more
Charged a tax bill for savings interest you weren’t paid? HMRC is still estimating earnings based on previous years despite 2020’s plunging rates Basic rate taxpayers can earn up to £1,000 a year in interest tax-free Coupled with falling rates it means 95% of savers don’t pay tax on their returns However a Cambridgeshire man … Read more
Tax bills for savings interest you weren’t paid? HMRC still estimating earnings based on previous years despite 2020’s plunging rates By Sylvia Morris For The Daily Mail Published: 22:00 GMT, 22 December 2020 | Updated: 22:00 GMT, 22 December 2020 Savers are facing baffling tax bills for interest they haven’t actually earned. HMRC estimates how … Read more
HMRC admits missing all call waiting time targets this year as inquiries surged amid the pandemic HM Revenue & Customs ‘did not deliver customer service we would have liked’ It conceded these problems were likely to continue to hamper service next year Call wait times started rising in March and peaked at 14 minutes 59 … Read more
Three men have been arrested over alleged fraud linked to Rishi Sunak’s ‘Eat Out to Help Out’ scheme. The men were arrested at their London addresses yesterday as part of an HMRC fraud probe into the use of the discount offer – which allowed diners 50 per cent off sit down meals. It was widely … Read more