Month: August 2023

IT company loses £167m diverted profits tax case – The Upper Tribunal has refused an application to force HMRC to disclose reasons for issuing charging notices related to a diverted profits tax bill for £167m

Homeowner loses £83k SDLT appeal – HMRC has won a First Tier Tribunal (FTT) appeal over a disputed stamp duty land tax (SDLT) bill related to whether the property was residential or not

Director sentenced for £492k VAT fraud – A director of a tiling business has been sentenced after stealing £492,000 through fraudulent VAT returns, despite HMRC giving him the chance to amend them

HMRC helplines struggle to manage call load – 70% of callers wait at least 10 mins to get through while nearly 3m calls are being diverted to automated service to deal with enquiries – big push to go online

HMRC late payment interest rate hits 7.75% but pays much lower rate of interest to taxpayers who have overpaid tax with rate only set at 4.25% – new rates from 22 August

Glasgow shop owner pleads guilty to £725k VAT fraud – A Scottish businessman who knowingly evaded £725,000 in VAT payments to HMRC has pleaded guilty following a large-scale VAT probe

Q&A: higher rate stamp duty transactions – important to remember there are qualifying conditions for farmhouse exemption to apply – it is not enough for the property simply to be a farmhouse. Handy tips

UK restaurants groups see profits double – The largest restaurant businesses have reported an increase in profitability, despite high inflation and staff shortages, but the number of pub closures is escalating

Major change for R&D tax relief claims as companies have to provide advance information and secure HMRC approval before submitting claims – meant to reduce £1bn plus fraud every year

HMRC to appeal Sky commentator £695k IR35 case – Following its defeat over a Sky rugby commentator’s employment status, HMRC is appealing the ruling at the Upper Tribunal