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Have you underclaimed your expenses?
Personal TaxIn 2022/23, HMRC sent a nudge letter to taxpayers that included a statement saying that upgrading a boiler wouldn’t be a deductible expense for tax purposes, i.e. as a deduction from rental income. It is now writing to individuals admitting that this was wrong. What action do you need to take?
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HMRC U-turn on helpline closures
VAT, Personal TaxEarlier this week, HMRC announced that it would be scaling back its tax helplines, a move that was widely criticised. It has now seemingly reversed the decision. What’s going on?
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Popular helplines to be severely restricted permanently
VAT, Business Tax, Personal TaxIt's now been confirmed that HMRC staff will be permanently diverted away from the self-assessment helpline meaning more blackout periods. What’s the full story?
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New MTD trial launches soon
Business Tax, Personal TaxHMRC’s Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) pilot has been a disaster. Despite this, it’s pushing businesses and accountants to use it from April 2024. Should you consider signing up?
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Revised guidance causing problems for LLP members
Personal TaxThe guidance relating to the salaried member rules where capital contributions are made has been updated. If you are a member of a limited liability partnership (LLP) you could be affected, so what’s going on?
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Group capital allowances under review
Business TaxIf your company is part of a group, or is connected to other companies, you may receive a letter asking you to check if you have overclaimed capital allowances. Why might this have happened and should you be worried?