The government has launched a consultation on its proposals to introduce capital gains tax (CGT) for non-UK residents when they dispose of residential property, which could have significant implications for overseas property investors. UK residents pay capital gains tax on disposals of any residential property that is not their main home, including on gains made… Read more…

Employees who have undeclared income from self-employment are being urged to notify HM Revenue & Customs (HMRC). HMRC published guidance on its Second Incomes Campaign on 9 April aimed at employees who have additional income from working for themselves, for example through: consultancy work, e.g. for providing training organising parties and events providing services like… Read more…

Around 24 million people are to receive a personal tax statement from HM Revenue & Customs (HMRC), setting out how much tax they paid in 2013-14 and how it contributed to public expenditure. The new initiative will take effect from October this year, as part of the government’s drive to make the UK tax system… Read more…

The current system of business rates is not fit for purpose and needs to be fundamentally reformed, says an influential committee of MPs. In a report issued on 4 March, the Business, Innovation and Skills Committee called for a wholesale review, going beyond the administration of business rates, to examine whether retail taxes should be… Read more…

More than 30,000 responses have flooded in to a government consultation on zero hours contracts. The 12-week consultation, launched last December, focused on the two key issues of exclusivity in employment contracts and lack of transparency for employees. The government said that some businesses employing people on a zero hours contract bar them from working… Read more…

More than 70,000 employers have been warned that they face penalties unless they submit employees’ Pay As You Earn (PAYE) information in real time. Employers who have never used the new Real Time Information (RTI) system to file PAYE returns were sent an email in March telling them to do so by the end of… Read more…

Major current account providers have signed up to an agreement that will give customers their account data in a simple, standardised format that can be used in comparison sites for the first time. The agreement, brokered by HM Treasury and the Department for Business, Innovation and Skills, should enable consumers to carry out quick and… Read more…

People with unpaid national insurance contributions (NICs) have been warned that private debt collectors could be used to recover the money they owe HM Revenue & Customs (HMRC). People paying tax through Pay As You Earn (PAYE) as an employee or who receive a taxable, UK-based private pension may have received a P2 annual coding… Read more…