Self-employed taxpayers and landlords should file their 2024/25 tax return early to find out if Making Tax Digital (MTD) will apply to them from next April, says the Low Incomes Tax Reform Group (LITRG). Taxpayers who report more than £50,000 of gross income from self-employment and/or rental income in their 2024/25 tax return will be… Read more…

HMRC is warning those earning extra income through a side hustle to check if they need to register for self assessment and file a tax return. Side hustles can be any additional income stream, from online selling to content creation, from dog walking to property rental. It also includes gains or income received from cryptoassets.… Read more…

UK-based holders of cryptoassets will have to provide personal details to crypto service providers or face penalties of up to £300 from HMRC. The regulations will be introduced in the UK on 1 January 2026 and are part of the OECD Cryptoasset Reporting Framework (CARF). This requires crypto platforms to share detailed information with tax… Read more…

HMRC plans to introduce a tax avoidance criminal offence risks overreach, the Chartered Institute of Taxation (CIOT) has warned. HMRC plans to create a new strict liability criminal offence for failing to disclose notifiable arrangements under the Disclosure of Tax Avoidance Schemes (DOTAS) regime without a reasonable excuse. The CIOT argues that DOTAS is much… Read more…

HMRC has issued a warning to be on high alert for scams linked to Winter Fuel Payments after receiving 15,100 reports of bogus activity in June. Fraudsters have been targeting vulnerable individuals using SMS messages and phishing websites. During June, HMRC took action to remove 4,600 fake websites linked to Winter Fuel Payments. HMRC is… Read more…

Inheritance Tax (IHT) on pensions is the most unpopular of the tax raising measures introduced by the Labour government during its first year, according to a survey. The survey conducted by investment platform AJ Bell found that 44% of respondents were opposed to the pension IHT proposals while only 21% supported them. Other measures were… Read more…

Personal guarantees risk holding back the growth the economy needs, the Federation of Small Businesses (FSB) has warned. Research by the FSB shows that 60% of limited company directors would borrow to grow their business – if they did not have to put hard-earned assets like savings or their houses on the line. By contrast,… Read more…

Dr Anjulika Salhan is truly humbled to share that she has been awarded Fintech Entrepreneur of the Year 2025 at the NRI Achievers Global Awards, held at a ceremony at the Hilton in Wembley, London, on 28th June 2025. This recognition is not just a personal milestone for Dr Salhan — it is a celebration… Read more…

Taxpayers are being urged to check their online HMRC account after scammers attempted to defraud the tax authority using individuals’ data and login details. The Low Incomes Tax Reform Group (LITRG) is also reminding people of the importance of being vigilant and taking care of personal data. HMRC recently announced that criminals had targeted the… Read more…

The government should take a more strategic approach to tax policy, consulting earlier and giving greater thought to the design of the tax system, says Nichola Ross Martin, President of the Chartered Institute of Taxation (CIOT). In her inaugural speech as CIOT President, Ross Martin said that making a success of MTD will need HMRC… Read more…