Tax gap remains steady at 5.1%
HM Revenue and Customs data has revealed the estimated tax gap for the 2020-21 tax year is 5.1 per cent – the...
READ MORETaxpayers frustrated as HMRC toughens late self-assessment stance
HMRC has fined 14% more people year-on-year for late self-assessment tax filing, leaving well-intentioned taxpayers frustrated.
“The pool of people at risk of being fined for late payment is now bigger than ever as self-employment continues to grow,” said Tim Woodgates, associate and tax specialist at Moore Stephens. “UK taxpayers are feeling the pinch. As a result, some do not have the money to pay the tax bill on time, even though they want to.”
Read more at Accountancy Age.
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