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Taxation Advice

More silly taxpayer excuses from HMRC

HMRC have released more unusual excuses from taxpayers who failed to complete their self assessment tax return on time. These include:

Landlords to recieve less tax relief on interest

In a change that will impact residential landlords, the amount of income tax relief available on residential property finance costs will be restricted to the basic rate of income tax. This change will mean that landlords will no longer be able to deduct all of their finance costs from their property income. They will instead receive a basic rate reduction from their income tax liability for their finance costs.            

Select Committee's findings

The Treasury Select Committee has urged HMRC to implement a series of wide-ranging pilots in order to better test the government’s plans for the new digital tax initiative, Making Tax Digital (MTD), before it becomes compulsory for the majority of taxpayers.

Making Tax Digital

The government published their responses to the six consultations on making tax digital (MTD).

SDLT online refund procedures

HMRC have introduced an online service to apply for a repayment of the higher rates of Stamp Duty Land Tax (SDLT) for additional properties if the property sold was previously a main home.

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