
- HMRC are extending the soft-landing period for businesses that can evidence that it is not practical for them to implement digital links across their accounting systems prior to the relevant deadline
- Taxes are high by historical standards accounting for over a third of GDP at 34.4%, increasing almost 7% from the 1950s.
- The tax rules for UK residential properties have substantially changed over the last 6 years, reducing the appetite for investment in UK real estate by foreigners.
- Wholesales suppliers have claimed the top spots on HMRC’s latest quarterly list of deliberate tax defaulters paying over £1m in penalties for unpaid tax. Grocery shops and fast food outlets are among the businesses that have been ‘named and shamed’ owing £13m.
- The deadline for submission of self-assessment tax returns and payment of due tax for year ended 5th April 2019 is fast approaching on the 31st January 2020