Tax gap rises to £35 billion

An estimated £35 billion of tax due was not paid in 2017/18, according to the most recent tax gap report from HMRC. The report, which measures the difference between the amount of tax that should be paid, and what is actually paid, said this made up 5.6% of total tax...

HMRC error affects payments on account

An error with HMRC's systems means some taxpayers may not receive an expected bill for payments on account next month, but will need to pay a much higher bill in January 2020. This warning comes from the Association of Taxation Technicians (ATT), which is advising...

Wealth from additional property ownership soars

The number of people who own a second home, buy-to-let or overseas property has risen by about 2 million since 2001, research claims. A report from the Resolution Foundation shows 11.2% of adults, or 5.5m people, lived in a family with property wealth outside their...

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....