The value added tax (VAT) is a consumption tax that applies to nearly all goods and services sold within the European Union (EU), including the United Kingdom (UK). Goods sold for export or services sold to customers who live outside these countries are typically not subject to VAT. The...
Kevin Fletcher, CDO at HMRC, also advises other data chiefs to think of the influencers in their organisation and the allies that will help ensure their data strategy is embedded. Fletcher told me in March 2018 that incentives are important, as different people within the organisation wil...
What is a QROPS - UK Frozen Pension Transfer A Qualifying Recognised Overseas Pension Scheme (QROPS) is a service available for expats in possession of a frozen UK pension. The HMRC-recognised QROPS pension transfer service allows people to shift their UK pension into another jurisdiction that may...
HMRC was formed on the in April 2005, following the merger of Inland Revenue and HM Customs and Excise Departments. HMRC is responsible for the administration and collection of taxes and duties including income tax, corporation tax, National Insurance and VAT. HMRC pays and administers Child Bene...
New reporting rules, introduced with immediate effect from January 1, 2024, requires online platforms to collect and share their sellers' transactional data with HMRC.
the type of business you form part of Be sure to have all this info on hand when you apply so you can avoid delays. It's also a good idea to check that you've filled in your application fully and correctly before you submit it. If anything is missing or incorrect, HMRC will ask ...
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Time To Pay is a service that allows businesses or individuals to agree an alternative payment plan with HMRC if they are having difficulty paying a tax bill.
If an individual is not UK-domiciled, however, their Estate will only be subject to Inheritance Tax on their UK situs assets. This is obviously a far preferable position for the Estate and its beneficiaries. Therefore, if it can be successfully demonstrated to HMRC that an individual was not...