681,000 UK individuals and businesses are so far behind on their tax bills that they have been forced to reschedule their payments with HMRC, our research shows.
The number of restaurant businesses going insolvent has jumped 25% in the last year to 1,410* in 2018/19, up from 1,130 2017/18, our research shows.
Self-employed individuals owed £1.6bn in late tax payments to HMRC last year*, with the figure expected to rise even further once more self-assessment returns for 2017/18 have been submitted.
We’re now well into the new taxation of offshore intangible property receipts, which came into play with Finance Act 2019. Intangible property has a very wide meaning but will include patents, trademarks and copyright.
Our Financial Planning review is intended to give insights on the current financial landscape, highlighting topical and timely issues.
It is as important as ever to ensure all bases have been covered when dealing with your personal tax affairs, following a recent flurry of letters from HMRC showing that they are checking 2017/18 personal tax returns where they believe that child benefit payments have been omitted.