Consultation on global minimum corporation tax for large multinationals
The Government has launched a consultation on how a worldwide 15 per cent minimum corporation tax can be implemented domestically, in a move designed to tackle avoidance and ensure a more level playing field for UK businesses.
New rules to end second home tax loophole
Multiple homeowners who leave “holiday lets” empty will no longer be able to claim tax benefits, it has been announced.
HMRC’s guidance on reasonable excuses for late tax payments updated
It should perhaps be no surprise given the circumstances of the pandemic that individuals and businesses might have incurred penalties for late tax payments.
Late filing penalties waived for one month to give taxpayers more time to prepare 2020/21 tax return
Late filing and late payment penalties will be waived for one month to give taxpayers more time to prepare their 2020 to 2021 Self Assessment tax return, it has been announced.
HMRC hikes late payment interest rates
The rate of interest charged on late payments by HM Revenue & Customs (HMRC) has increased, it has been announced.
Did you open presents or submit tax returns on Christmas?
According to HM Revenue & Customs (HMRC), over 31,000 Self Assessment tax returns were submitted between Christmas Eve and Boxing Day.