Personal tax

Tax / Grandparents missing out on childcare NI credit

Working-age people who give up their job to provide childcare for their grandchildren risk damaging their state pension entitlement because of failure to take up a little known benefit, designed to protect their National Insurance (NI) credits, according to analysis by insurer Royal London

Tax / Trump inauguration: US tax reform tops agenda

Ahead of president elect Donald Trump’s inauguration tomorrow, his victory in the US presidential election has given people reason to start talking seriously about a real possibility of a long awaited comprehensive US tax reform, explains Jeff Whener, Jon Traub and Natalia Mityaeva at Deloitte

Tax / HMRC adds voice recognition to digital security features

HMRC is to add voice recognition to its options for taxpayers to confirm their identity to access its services, with the addition designed to speed up the security process

Tax / Treasury finalises Lifetime ISA rules effective April 2017

The Treasury has announced the formal launch of two new government-backed savings vehicles, the Lifetime ISA (LISA) and the Help to Save scheme, and has clarified their interaction with the existing Help to Buy ISA

Tax / BEIS launches review of Scottish limited partnerships

The Department of Business, Energy & Industrial Strategy (BEIS) is to undertake an official review of limited partnerships in the UK, focusing particularly on alleged 'criminal' exploitation of Scottish limited partnerships (SLPs)

Tax / NAO slams HMRC deal with Concentrix

HMRC’s contract with Concentrix to provide additional capacity for checking tax credit awards delivered just £193m of savings compared to the original estimate of £1bn, according to a National Audit Office (NAO) investigation, while a third of the outsourcer’s decisions to stop payments were subsequently overturned after review

Tax / HMRC plans ‘year-long’ Making Tax Digital pilot

HMRC has confirmed plans to undertake a year-long pilot of Making Tax Digital for ‘hundreds of thousands’ of taxpayers following criticism at the hands of MPs in the Treasury Committee

Tax / BREAKING: MPs call for immediate delay to Making Tax Digital

HMRC's Making Tax Digital programme has the potential to be an expensive disaster unless plans for the national rollout are delayed, according to MPs in the Treasury Committee, who are calling for a one to two year delay to the introduction of quarterly reporting, which is being rushed through to meet a 2018 kickoff date

Tax / HMRC opens flood helpline

In the wake of last week’s ‘thunderstorms’, HMRC has announced the opening of a telephone helpline for anyone affected by severe weather or floods, providing practical help and advice on any tax problems they may be facing

Tax / Filing for divorce: five tax tips

January has earnt the nickname ‘divorce month’ due to it being the time when most divorces are filed. Richard Morley, partner, tax dispute resolution at BDO, provides five brief tips for dealing with tax issues which may arise when filing for divorce

Tax / Better scrutiny of Finance Bill needed, says Tyrie

Finance Bills should be subject to more rigorous scrutiny, particularly tax measures, according to the chairman of the Treasury Select Committee Andrew Tyrie

Tax / Top ten tips: self assessment tax returns and risk areas

In the run-up to the 31 January deadline for self assessment, Jonathan Amponsah CTA FCCA, managing partner at The Tax Guys, sets out the top ten tips to ensure tax returns are as accurate as possible in order to avoid falling foul of HMRC penalties

Tax / Celebrity loses case to remain anonymous in court

A celebrity taxpayer has lost a first tier tribunal (FTT) to have a hearing held in private, despite HMRC not opposing the application, as the judge deemed it unnecessary due to it lacking any circumstances which required anonymity

Tax / Majority fail to sign up for marriage allowance tax break

HMRC has started the year with a renewed appeal for taxpayers to make use of the marriage allowance, after its own data showed that only around a quarter of those eligible have claimed the tax break, which is worth up to £220 a year

Tax / Zurich pays up over misleading IHT investment advice

Zurich is to pay more than £220,000 in damages to a 96-year-old English woman who as not lived in the UK since 1948 after the High Court ruled one the insurer's representatives had given her inheritance tax advice on an 'entirely false' basis