Check if HMRC contact is genuine
HMRC’s published guidance titled ‘Check genuine HMRC contact that uses more than one communication method’ has been updated. The list is intended to help taxpayers check if recent contacts purporting to be from HMRC are actually a scam.
The guidance contains a list of emails, phone calls, letters
Do you need to register for Economic Crime Levy?
The Economic Crime Levy is a levy that applies to businesses that are already regulated for anti-money laundering purposes.
Your business must register if your UK revenue is £10.2 million or more in a financial year and:
Your business is already regulated by HMRC for anti-money laundering
Holiday Lets averaging election
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for tax purposes.
In order to qualify as a furnished holiday letting, the following criteria need to be met:
The property must be let on a commercial basis with a view
Landlords – claiming maintenance and repairs costs
Landlords are able to claim for allowable expenses as a deduction from their rental income when calculating taxable rental profits to declare to HMRC. The expenses must relate wholly and exclusively for the purposes of renting out the property.
There is also a range of other types of expenses that
Time to Pay your tax
Businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time to Pay service. Any tax, duty, penalties or surcharges that you cannot afford to pay can be included.
An online payment plan
HMRC awards £5.5m in grant funding
HMRC’s has awarded twelve voluntary and community sector organisations a share of £5.5 million in funding to help customers with their tax affairs.
The £5.5 million funding pot applies over a three-year programme from April 2024 to March 2027 (£1.835 million per year), to help fund Voluntary and
Help to Save scheme
The Help to Save scheme is intended to help those on low incomes to boost their savings. Eligible users of the scheme can save between £1 and £50 every calendar month and receive a 50% government bonus. The 50% bonus is payable at the end of the second and fourth years and is based on how much
Gifts of shares to minor (under 18s) children
The settlement legislation seeks to ensure that, where a settlor has retained an interest in property in a settlement, the income arising is treated as the settlor’s income for all tax purposes. A settlor can be said to have retained an interest if the property or income may be applied for the
Help to Save bonus payments
The Help to Save scheme is intended to help those on low incomes to boost their savings. Eligible users of the scheme can save between £1 and £50 every calendar month and receive a 50% government bonus. The 50% bonus is payable at the end of the second and fourth years and is based on how much
Due a student loan refund?
Student Loans are part of the government’s financial support package for students in higher education in the UK. They are available to help students meet their expenses while they are studying, and it is HMRC’s responsibility to collect repayments where the borrower is working in the UK. The Student