1 in 3 self-assessment taxpayers under-pay

A third of self-assessment taxpayers did not pay the right amount of tax in 2016/17, resulting in an £8 billion loss to the Treasury, research claims. A paper published by the Social Market Foundation (SMF) found that of the 10 million people a year who filed...

ACCA calls for IR35 private sector delay

Extending IR35 legislation to the private sector could introduce "a complex web of new rules and liabilities throughout supply chains". Medium and large companies in the private sector will be responsible for determining the tax status of contractors from April 2020....

CIOT: HMRC should review private residence relief

The Chartered Institute of Taxation (CIOT) has called for HMRC to review the use of private residence relief, before making changes that have been proposed for April 2020. Private residence relief allows people selling their home to do so without incurring a capital...

125,000 families take up tax-free childcare

The number of families using tax-free childcare has more than doubled since this time last year, but around 1.4 million households could be missing out on the scheme. Recent HMRC statistics show that 125,000 families used tax-free childcare in March 2019. The figure...

‘Demand for cash ISAs rises 45%’

The number of cash ISA products on the market has increased from 301 to 437 since the introduction of the personal savings allowance in 2016/17. The personal savings allowance enables basic-rate taxpayers to receive up to £1,000 a year in tax-free savings income. This...