HM Revenue & Customs has embarrassingly revealed that it overstated the
stamp duty paid by homebuyers by almost £1bn.
The taxman had previously claimed that families buying property paid £5.5bn
in duties each of the past two years.
It has since revised this figure to £4.6bn.
HMRC stood by its previous total stamp duty estimate of £10.9bn in 2005/2006,
but said that much more of this amount than was originally thought was paid by
businesses than by homeowners.
When revised, the figures reveal that property stamp duty paid by companies
in the past year has risen 75% to £2.9bn.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay