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...

New measures to prevent late payments

The Government has announced a set of new measures to stop late payment to small businesses, following pressure from business groups. Under the proposed rules, audit committees will be required to report payment practices in their company annual reports. Subject to...

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...

Reverse charge VAT for construction services

From 1 October 2019, a major change to the way VAT is collected in the building and construction industry will take effect. Last week HMRC finally published new guidance on reverse charge VAT for building services, giving those affected less than four months to...

Saving on summer childcare costs

It might not feel like it in some parts of the country, with June 2019 on course to be one of the wettest on record, but the summer holidays are on their way. For working parents of school-age children, that could mean a welcome chance to take a family break, but it...