HMRC’s new powers to tackle electronic sales suppression
The HMRC has issued advice about the new powers and penalties under the Finance Act 2022 to tackle electronic sales...READ MORE
Around 460,000 people chased HMRC for refunds on overpaid income tax in the year 2018/19, according to an FOI request by insurance company, Royal London.
The value of all types of repayments to individuals in 2018/19 was £5.1bn, up from £5.0bn in 2017/18, made up of refunds to individuals and for personal pension contributions. Individual taxpayers were refunded £2.78bn, down from the previous year's £3.1bn, while pension refunds jumped to £2.24bn, up 10% from £1.9bn.
Read more at the Accountancy Daily.