Personal tax

Half a million people who have yet to file their 2010/11 tax returns will begin to receive additional penalty letters from next week, HMRC has announced.

Electricians who have failed to pay the correct amount of tax have just one week to pay any tax owed and take advantage of more lenient payment terms from HMRC.

The self-employed could face difficulties accessing state benefits from next year if draft regulations regarding the new Universal Credit system go ahead, tax advisers have warned.

Higher rate taxpayers are being given the opportunity to come forward and submit any outstanding tax returns with HMRC as it launches a new time-limited campaign.

The Government has launched a consultation on a new general anti-abuse rule (GAAR) designed to tackle what it terms 'artificial and abusive tax avoidance schemes'.

HMRC has launched six new taskforces with the aim of recovering up to £23 million from traders who fail to pay the taxes they owe.

Chancellor George Osborne has dropped plans to limit the amount of tax relief on charitable giving, after listening to the concerns of charities.

First time buyers in Scotland purchased higher priced property in the first quarter of 2012 as a result of taking advantage of the stamp duty concession, the Council of Mortgage Lenders (CML) has said.

The average standard VAT rates in the European Union's 27 countries have risen dramatically since 2008, a new report into taxation trends by the European Commission has found.