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The self-assessment deadline is approaching but there is still time to cut your tax bill before the end of January. Around 12m people are expected to file an online self-assessment tax return to ...
The deadline for new applications to complete online tax returns was in October, though it is still possible to get in touch with HMRC to discuss options to pay an expected tax bill before the 31 ...
"Customers' reasons for not paying their tax bill or arranging a payment plan by the deadline will be considered individually," said Myrtle Lloyd, HMRC's customer services director.
His Majesty's Revenue and Customs (commonly HM Revenue and Customs, or HMRC) [4] [5] is a non-ministerial department of the UK government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers.
The 'tax gap' is the difference between the amount of tax that should, in theory, be collected by HMRC, against what is actually collected. The tax gap for the UK in 2013–14 was £34 billion, or 6.4 per cent of total tax liabilities. [71] It can be broken down by tax type
Under MTD, taxpayers will send HMRC summaries of their income and expenditure at least four times a year. HMRC says this will enable a more ongoing and accurate projection of tax due, as opposed to the current system of one tax bill at the end of the year. To do this, taxpayers will need to integrate their accounts with software in some way.