HMRC issue 177,000 “nudge letters” in order to tax offshore income or gains

According to City AM, HMRC continue to pursue non compliant UK taxpayers by issuing nudge letters.  As previously covered,  HMRC’s use of nudge letters is a cost efficient way of recouping tax for the Exchequer without the need to launch a tax investigation into a taxpayer’s past tax compliance.  But beware, there are risks forContinue reading “HMRC issue 177,000 “nudge letters” in order to tax offshore income or gains”

Is now the time to push for a Settlement?

January is a funny month.  The festive celebrations have been and gone.  A lot of taxpayers turn to filing their Self Assessment Tax Return by the end of the month.  Others are simply looking backwards and forwards and thinking how are they going to fair in 2022.  So why is now possibly a good timeContinue reading “Is now the time to push for a Settlement?”

What will HMRC be sending you for Christmas this year?

For many taxpayers, a brown envelope from HMRC will not be well received at any time of the year.  Odds on it will contain bad news.  It may be the start of an investigation.  It may be a “nudge letter” or a “Check on tax position“.  It almost certainly won’t be a Christmas card! IsContinue reading “What will HMRC be sending you for Christmas this year?”

Are you resolving the issue with HMRC or just kicking the can down the road?

For some, kicking the can into the long grass might be even more preferable.  Either way, when the time actually comes to resolving the matter, it will almost certainly be more expensive.  And perhaps all you have had in between times is depression and sleepless nights. Are you resolving matters?

Is HMRC challenging you?

HMRC holds a wealth of information on all taxpayers.  Not surprisingly though, from time to time HMRC can come across information on a taxpayer that they did not expect.  You may think that you have disclosed everything but now HMRC is challenging you and want to investigate your tax affairs. What type of letter haveContinue reading “Is HMRC challenging you?”

By failing to prepare, you are preparing to fail

Some of you may recognise this as a quote from Benjamin Franklin.  In my world it is a very true statement and I take time to explain its importance to others particularly in relation to failing to prepare for meetings with HMRC. Imagine the scenario of  a taxpayer being blasé and ignoring my advice.  They mayContinue reading “By failing to prepare, you are preparing to fail”