Taxpayers are being urged to check their online accounts after the First-tier Tax Tribunal upheld penalties for the late filing of a self-assessment tax return. If you need further help with your self-assessment tax return, please contact our Tax Department.
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The law never stands still, and the way it applies to you and your organisation is constantly evolving. Our people are on top of these developments and can keep you up to date with some of the most interesting aspects of these changes. Check out our articles and updates for our perspective on issues that might affect you.
Latest articles from Amber Heron
The Office of Tax Simplification (OTS) has recommended major changes to the current Lifetime Gifts rules. Currently, residents domiciled in the UK have an IHT threshold of £325,000 and are allowed to gift £3000 tax free to another individual in every tax year, with additional gift categories also allowed. Here we look at the proposals to change this system.
It has emerged that HMRC are experiencing a computer glitch concerning Self-Assessment Payments on Account for 2018/19. The result for some people will be that the tax payable in January could be three times as much as you would normally be asked to pay at that time of the year.
The third phase of the restriction of tax relief on mortgage interest takes effect in this new tax year 2019/20, the ultimate aim being to restrict the available relief to the basic rate. These changes impact on all landlords with borrowings but perhaps more significantly for those with rental properties.
The Scottish Government has launched a cconsultation on a new approach to the planning, management and implementation of the fully devolved taxes in Scotland. Responses are welcome by 6 June 2019.