Following a Freedom of Information request, it was revealed that HMRC received more than £400m purely from interest charges in the
last calendar year (January to December 2024).

This figure includes money that has come from taxpayers, trusts and estates that missed payment deadlines.

Incredibly, the figure has risen to three times greater than it was in 2021 – when revenue stood at £131.9m. For…

The failure to meet the 31 January cut-off leaves them facing fines. An initial £100 fixed penalty applies even if there is no tax to
pay, or if the tax due is paid on time.

Many thousands of others nearly missed the deadline, according to official data, with 31,442 returns filed between 11pm and midnight.
More than 11.5 million taxpayers did meet the deadline…

As part of new guidance to help employers conform with both schemes correctly, HMRC has published a list of the most common errors businesses
make to help them avoid these in future.

‘Following these guidelines will help to reduce your risk of making errors, therefore reducing the risk of any penalty charges,’ HMRC stated.

These Guidelines for Compliance are for all employers. The most…

The rise in employers’ National Insurance (NI) and the alterations to the Inheritance Tax rules for agricultural properties have been particularly contentious.

Many of the changes announced by Chancellor of the Exchequer, Rachel Reeves, are not set to take effect until the new tax year beginning on 6 April. Could some of those
be axed or changed further?

We…

Attempts to scam the self-employed and others filling out their forms before the 31 January are ramping up, officials have warned.

In particular, taxpayers have been cautioned to look out for so called ‘refund scams’. Watch out for emails that take this approach.

HMRC received nearly 150,000 referrals about possible scams in the last year. Around half of all scam…