Nearly a million accounts remain untouched HM Revenue & Customs is encouraging hundreds of thousands of young Britons to search for a forgotten savings fund worth over £2,200. According to HMRC, 758,000 Child Trust Fund accounts remain untouched, each containing an average of £2,242. This means that approximately £1.7billion are lying dormant. In an attempt […]

1 day ago

You face a hefty car tax if you own one of these cars Within a matter of weeks, if you own one of 59 popular road cars you will pay a hefty car tax to use the roads. As major new car tax changes come into effect, owners will have to pay a whopping £5,690, […]

1 month ago

HMRC will consider the reasons for missing the deadline For about one million people, there are going to be fines as they have missed the deadline to file their tax return, the UK’s tax authority has revealed. HM Revenue and Customs (HMRC) has said that at the end of Saturday, 27,456 people filed in the […]

1 month ago

Here is what you risk if you haven’t filed yet Before Saturday’s deadline, a total of 3.3 million Brits need to file their tax returns. HM Revenue and Customs said that some 8.6 million people have already filed their return for the 2024-25 year. Now, taxpayers are being urged to act now if they are […]

1 month ago

You could face large fines Tax professionals have raised the alarm while this year more residents in Britain are looking to the likes of Etsy and Vinted to make room in their wardrobes. HM Revenue & Customs now can see your online selling activity, and non-compliance could lead to in-depth investigations or large fines that […]

2 months ago

It signals a resumption of DRD powers HMRC has confirmed that it is set to begin taking money directly out of the bank accounts of people who owe tax. The rolling out of ‘Direct Recovery of Debts’ (DRD) powers which allow HMRC to take money directly from bank accounts. HMRC claim that this new power […]

5 months ago