Author: admin

Sixth crypto exchange AAX collapses with £45m in funds tied up in the platform – Quantuma appointed as liquidators

Plans to simplify construction industry scheme – HMRC is consulting on plans to simplify the administrative burden of the construction industry scheme by simplifying some reporting requirements

Landlord registration plan in Renters Reform Bill will drive HMRC investigations – database could ‘provide HMRC with a gold mine of information to pursue landlords for unpaid tax’, warned

Taxpayers told to use #HMRC online services by Treasury to address service problems – ‘HMRC have seen unexpected demand for services and strains on their resource, which has affected performance… HMRC officials are sorry

Crypto should be treated as gambling, say MPs – MPs on the Treasury Committee have called on the government to regulate cryptocurrencies as gambling but there has been pushback from critics

HMRC late payment interest rate hits 7% – now 2.5% above Bank of England rate, but HMRC continues to pay lower interest to taxpayers who have overpaid tax at rate of 3.5% – collects twice as much interest from taxpayers who pay late

HMRC closes #VAT registration helpline – from 22 May, call centre advisers on helpline will be redeployed to spend entire time processing VAT registration applications instead of answering calls – taking 40 days to handle registrations

VAT-free shopping could give £4.1bn boost – Top UK retailers have called on the government to reinstate tax-free shopping for overseas tourists, which could add £4.1bn to GDP by 2025