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Personal tax

ISAs give older savers chance to increase tax-free savings

Anyone aged over 50 will be able to invest more in tax-free ISA savings accounts as of next month.

Genuine mistakes will escape offshore tax fines

People who have made a “genuine” mistake over their tax affairs or who have been affected by exceptional events will not face a fine under HM Revenue and Custom’s second and last disclosure offer for those with undeclared taxes in offshore accounts.

Fuel duty rises

The latest rise in fuel duty, which sees 2p added to the cost of a litre, has come into effect.

Inheritance tax interest charge part of 'fairer' system, says HMRC

HM Revenue and Customs (HMRC) has argued that the interest due on late inheritance tax payments is part of a new system that is fairer for customers.

HMRC wins access to offshore bank account details

Over 300 banks and financial institutions will be obliged to hand over details of their customers’ offshore accounts to the tax authorities.

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