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The Latest Breaking News from HMRC

HMRC Could Take Money Directly From Bank Accounts to Recover £2 Billion in Tax Debts

HMRC is reinstating its Direct Recovery of Debts powers to recover unpaid taxes. Safeguards protect vulnerable taxpayers, and communication with HMRC is key to avoiding enforcement action.

International Business Times UK

Holding Cash in a Stocks ISA? You Could Soon Face a 22% Tax Charge

The new 22% tax on cash interest in stocks and shares ISAs from April 2027 affects savers and investors. Learn about the implications of HMRC's reforms and who will be impacted.

International Business Times UK

‘A total, utter nightmare’: small businesses on Brexit, 10 years on

Cheesemakers, farmers, exporters and wine merchants say red tape, lack of vision and rising costs mean they have stopped trading, sold up or retired early

The Guardian - UK

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HMRC ISA Tax Changes Could Open New First-Time Buyer ISA to Over-40s

The UK Treasury proposes a First-Time Buyer ISA for adults over 18, replacing the Lifetime ISA. It offers a 25% government bonus without withdrawal penalties, reflecting changing homeownership trends.

International Business Times UK

Rachel Reeves announces new 22% tax on interest from cash in stocks and shares ISAs

Rules will be introduced to prevent people subscribing up to £20,000 cash in a non-cash Isa and leaving it there long-term, earning tax-free interest

The Independent UK

22% charge aims to stop Isa savers getting around new rules from 2027

HM Revenue and Customs said several rules will be introduced to ensure the policy achieves its objective.

Evening Standard

Small businesses behind two-thirds of Britain’s £59 billion tax shortfall

HMRC says tax evasion accounted for 12 per cent of last year’s tax gap

The Independent UK

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HMRC faced £59.2bn shortfall from unpaid taxes in 2024-25, figures show

The tax gap was estimated to be 6.4% in the 2024-25 tax year, higher than the year before.

Evening Standard

State pension boost for some grandparents as thousands apply for credits

The credits are designed to help people below state pension age build up their state pension rights and can plug national insurance gaps.

Evening Standard

Thousands of grandparents get state pension boost for helping with childcare

The credits are designed to help people below state pension age build up their state pension rights

The Independent UK

A guide to Making Tax Digital for small business owners

Businesses now need to keep digital records and submit updates using compatible software throughout the year

The Independent UK

71,000 Graduates Given Wrong Student Loan Balances After HMRC Error: Who Gets a Refund?

Approximately 71,000 UK graduates received incorrect student loan balances due to errors by the Student Loans Company and HMRC. Affected borrowers will have their balances corrected without needing to take action.

International Business Times UK

Three arrested in immigration and tax evasion raids on London souvenir shops

HM Revenue and Customs (HMRC) and Home Office staff made surprise visits to six central London stores that stock royal family and UK-themed gifts

Evening Standard

1.7 Million State Pensioners Affected By HMRC Error: 'We Apologise And Are Working To Fix It'

A HMRC calculation error led to overpaid taxes for 1.7 million pensioners. How to claim your refund and avoid future issues with your state pension tax.

International Business Times UK

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The Independent UK

HMRC overcharged millions of pensioners in income tax last year

IN FULL

The Independent UK

Millions of pensioners overcharged by HMRC for almost a year in £43.5m error

HMRC has apologised for the error and hopes to fix the problem later this summer

Evening Standard

Croydon businessman brokered illegal arms deals to send ex-Soviet fighter jets to Africa war zones

David Greenhalgh and Greek national Christos Farmakis were found guilty of illegal arms deals worth tens of millions of pounds

The Independent UK

Princess Diana barrister accused of setting up ‘elaborate’ system to avoid paying £2m in tax

Robert Venables KC is accused of failing to properly declare his income across seven years while working as one of the country’s leading tax lawyers

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The Guardian - UK

Salary sacrifice: max out this pension tax break while you can

The clock is ticking to take advantage of this valuable UK scheme, as the benefits are to be restricted from April 2029

The National (Scotland)

119 jobs lost as major Scottish firm collapses into administration

Apex Traffic Management in Uddingston entered administration after HMRC court action over a £1m VAT bill, putting 119 Scottish jobs at risk

The Independent UK

HMRC claims power to take money from bank accounts has saved £13m through side-effect

The reinstated policy is a strong ‘deterrent’, the tax authority reports

Evening Standard

HMRC warning as two arrested in east London over suspected £153m TikTok tax scam

The tax body says to ‘protect your personal tax details in the same way you protect your bank details’

The Independent UK

Pair arrested over major TikTok tax fraud scam as MHRC issues warning

IN FULL

The Independent UK

HMRC issues warning to TikTok users as two arrested over suspected £153m tax scam

The scheme allegedly involved individuals posting ads on the popular social media platform

Evening Standard

SNP in talks with taxman over VAT linked to Murrell purchases, Swinney reveals

The First Minister said his party had started talks with HMRC in the wake of former chief executive Peter Murrell embezzling more than £400,000.

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