HMRCs

HMRC will reduce the interest rate it charges on late tax payments to 7.25% from November 18, following the latest cut in the Bank of England's base rate. However, this reduction highlights a stark disparity: taxpayers will receive…

More than half a million taxpayers due to receive simple tax assessments from HMRC for the first time have been warned not to ignore them to avoid penalties and miss out on tax deductions, according to leading audit, tax and business…

Business confidence in HMRC's competence decreased significantly as accountants raised "significant concerns" about the accuracy of the information it provided. Official annual surveys of small and medium-sized businesses released by…

New data released today from HMRC showed that the tax gap estimate across all taxes and levies administered by the IRS is £35.8 billion or 4.8% of the theoretical tax liability. . The tax gap is the difference between the amount of…