HMRC is warning those earning extra income through a side hustle to check if they need to register for self assessment and file a tax return. Side hustles can be... read more →
Almost half of UK sole traders feel unprepared for upcoming Making Tax Digital (MTD) for Income Tax changes, according to research conducted by IRIS Software. The new MTD rules mandate... read more →
HMRC has launched a new online interactive tool to help guide both businesses and individuals through tax compliance checks. The Interactive Compliance Guidance tool available on GOV.UK provides information to... read more →
The reporting threshold for trading income for self assessment is being lifted from £1,000 to £3,000 gross within this parliament, according to the Treasury. This includes people trading clothes online,... read more →
HMRC will reduce late payment and repayment interest rates from 25 February following the cut in the base rate. The Bank of England cut the base rate to 4.5% on... read more →
Parliament’s spending watchdog has accused HMRC of deliberately running down its phone services to force people to go online, according to a report. The Public Accounts Committee’s (PAC) report into... read more →
With less than a month to go 5.4 million taxpayers still need to complete and pay their self assessment and avoid penalties, HMRC warns. Anyone required to file a tax... read more →