- A Lords committee has issued a scathing report on HMRC’s Making Tax Digital (MTD) for VAT program, attacking HMRC’s unrealistic timeframe, lack of communication with businesses, and failure to improve following previous criticism
- HMRC has issued a warning to university students that they are being targeted by scammers with fake tax refunds in an effort to steal money and personal details, after receiving thousands of fraud reports in just a few weeks from students at colleges across the UK
- British business confidence has plunged to its lowest level since the dark days of the financial crisis, according to the latest iteration of the ICAEW’s business confidence monitor.
- HMRC has run up a £10,000 florist bill over past 5 years to make amends with taxpayers over blunders like missing correspondence and incorrect PAYE codes.
- There has been a spike in the number of companies entering insolvency in Q3 2018, up by 8.9% compared to the previous quarter and 19.3% higher than in the same quarter of last year, according to official statistics from the Insolvency Service which show a sharp increase in creditors’ voluntary liquidations (CVLs)
- A call to modernise inheritance tax collection, because too many people have to fill in inheritance tax (IHT) forms and the process is complex and old fashioned according to the Office of Tax Simplification (OTS), which says HMRC should look to improve the experiences of those dealing with the tax