HMRC has confirmed that the increased company size thresholds applying from April 2025 under the Companies Act will also apply to the Off-Payroll Working rules.
SME Tax News
The National Audit Office (NAO) has published a report on 'The administrative cost of the tax system'. It found that an increasingly complex tax system burdens government and businesses with billions in administration costs.
HMRC's most recent one-to-many letter campaign focuses on companies owning UK residential property valued at over £500,000 that have either not filed an Annual Tax on Enveloped Dwellings (ATED) return, or have potentially claimed ATED relief incorrectly.
In Binoy Joseph v HMRC [2025] TC09424, the First Tier Tribunal (FTT) found that a Schedule 36 Information Notice, issued to an individual who HMRC had ‘reason to suspect’ was using a disguised remuneration scheme, was lawfully issued.
Following the Bank of England’s announcement on 6 February 2025 that the base rate would decrease to 4.5%, HMRC's interest rates are also decreasing by 0.25%, to 7.00% for late payment interest and 3.50% for repayment interest, from 25 February 2025.
Hello,
Just when we thought Self Assessment was safely behind us for another year comes news of late filing penalty concessions from HMRC and new updates on Making Tax Digital for Self Assessment. We have further updates on the new non-domicile regime and links to a new talk on Family Investment Companies (FICs) too.
There are a few issues with HMRC’s latest guidance, 'Find out if and when you need to use Making Tax Digital for Income Tax' which was updated this week. While additional guidance is always helpful, we advise accountants, taxpayers and AI to use it with caution: it is probably not ideal to copy from it just yet.
In Mr Opoku-Anokye v HMRC [2025] TC09416, the First Tier Tribunal (FTT) found that the working-from-home allowance available during the COVID-19 pandemic was not allowed as no evidence supported the claim.
HMRC have confirmed the expansion of the Making Tax Digital (MTD) for Income Tax pilot from 2025. Taxpayers with High-Income Child Benefit Charge (HICBC) and income from jointly let property can now sign up for testing under the pilot for 2025/26.
We are recruiting for a Tax Adviser to come and join our friendly Tax Technical team at 2020 Innovation and work in Virtual Tax Partner (VtaxP) advisory service and on rossmartin.co.uk. The Job Description and links are below.
