Taxwatch: HMRC needs resources to go after Covid fraudsters While the Department for Work and Pensions has been handed £510m to tackle the estimated £3.4bn Covid-related rise in benefits fraud, HMRC is set to spend just £155m over the next two years on clawing back the estimated £5.8bn lost through Covid support schemes. Taxwatch has questioned the disparity, with executive director George Turner saying: […] By Lisa Brownlow, 11 January 2022
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HMRC has announced that it will not charge late filing penalties for 2020/21 HMRC has announced that it will not charge late filing penalties for 2020/21 self assessment tax returns filed online by 28 February 2022. In recognition of the pressure faced this year by taxpayers and their agents, HMRC is to allow an extra month before it charges late filing and late payment penalties for 2020/21 self […] By Lisa Brownlow, 7 January 2022
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Pandemic hits tax take from large companies Analysis shows that the economic slump driven by the pandemic reduced the tax contribution of Britain’s largest 100 listed and private companies and their employees by almost 8%. The businesses and their workers generated £77.1bn in tax in the year to the end of March, down from £84.1bn in the previous financial year. The total […] By Lisa Brownlow, 5 January 2022
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Treasury targets umbrella companies over lost tax revenue The Treasury is preparing to take action against umbrella firms used by freelance workers as it looks to claw back lost tax revenue. Umbrella companies act as a middle man between recruitment agencies or clients and temporary staff, dealing with payroll issues and often helping reduce tax bills. There are concerns that many of these […] By Lisa Brownlow, 4 January 2022
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SSP self-certification period temporarily extended to 28 days Employees eligible to receive statutory sick pay are not normally required to provide their employer with medical evidence to support sickness absence for the first seven days of absence. For longer periods of absence, they must obtain medical evidence (a fit note) from their GP. In order to free up GP capacity to focus on […] By Lisa Brownlow, 22 December 2021
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Suicides lead to renewed calls for loan charge rethink A cross-party group of MPs have called on ministers to rethink the controversial “loan charge” imposed on tens of thousands of workers after it was revealed that there had been eight cases of suicide among those facing demands for payments under the scheme. Greg Smith, co-chair of the group on the Loan Charge and Taxpayer […] By Lisa Brownlow, 17 December 2021
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