Self-assessment first-timers in a “black hole of frustration”.
Personal Tax
Autumn Budget 2021: key personal announcements
The top announcements affecting individuals from 27 October 2021.
AAT calls for extension to capital gains reporting deadline
Accounting group recommends 60-day reporting period.
Most people do nothing to reduce potential IHT bill
40% of consumers concerned about IHT bills.
Stamp duty land tax reverts back to type
Pre-pandemic regime is back in place.
OTS publishes report on tax year-end change
New paper stops short of recommending tax year change.
Thousands overpay IHT on life insurance policies
£280m may have been paid unnecessarily in 2018/19.
Stamp duty receipts hit high, despite holiday
Receipts for July 2021 second highest on record.
EVs could ‘create £30bn tax hole’
Calls for new road pricing system to replace fuel duty.
IHT overwhelmingly hits London and South East
Hertfordshire pays more IHT than Northern Ireland and Wales combined.
Inheritance tax receipts bounce back
33% more taxpayers hit by IHT charges.
CGT receipts hit record-high of £9.9bn
41% of receipts came from 1% of capital gains taxpayers.
Monthly borrowing figures start to climb down
Borrowing in June 2021 was the second highest on record.
HMRC posts renewal reminder for tax credits claims
Some review packs require a reply for renewal.
Stamp duty holiday to begin tapering off
Lower nil-rate threshold in England & NI due in tomorrow.
Hundreds of taxpayers caught out by IHT gift rule
Taxpayers lost out on over £600 million.
OTS urges reform to capital gains reporting system
It suggests replacing the three main reporting systems.
HMRC starts sending tax credit renewal packs
The renewal deadline is 31 July 2021.
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