HM Revenue & Customs (HMRC) is ramping up its efforts to recover underpaid inheritance tax (IHT), with thousands of estates expected to come under investigation. In the last tax year, HMRC estimated that taxpayers underpaid IHT by a staggering £325 million, leading to an intensified crackdown set to take full effect in 2025. Rising Scrutiny Continue reading
tax
Over a Million Taxpayers Miss Deadline: What Happens Next and How to Avoid Penalties
An estimated 1.1 million people have missed the self-assessment tax return deadline, according to HM Revenue and Customs (HMRC). This means they now face financial penalties, unless they can provide a valid excuse for their late submission. What Happens If You Missed the Deadline? HMRC has outlined the penalties for failing to file a tax Continue reading
The Hidden Cost of Going Solo: How the ‘Singles Tax’ Makes Life More Expensive and What Can Be Done About It
In a world that often celebrates independence and self-sufficiency, living alone comes with an unexpected financial burden—one that economists and policy experts call the “singles tax.” While this isn’t an official levy, it represents the higher costs single people face compared to couples and families, simply because they don’t have someone to share expenses with. Continue reading