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The 2025 Budget on 26 November 2025 is expected to be crucial for the long-term implications for the UK economy – announcements of tax increases are expected. It is also expected to include further detail confirming HMRC's digital roll-out (particularly Making Tax Digital) plus further digital implementation in the form of e-invoicing. E-invoicing has been in use in various forms for a number of years and, i nternationally, over 80 countries have e-invoicing mandates, with th

A taxpayer may have grounds for appealing a penalty if they have a reasonable excuse for missing a filing or payment deadline. However, it is important to realise that the appeal will only succeed if HMRC accept that the excuse is indeed reasonable. In this regard, the bar is set high. The first point to note is that there is no statutory definition of ‘reasonable excuse’. Whether a person has a reasonable excuse depends on the circumstances in which the failure to meet the o

A press release recently published by HMRC revealed that 758,000 young people between the ages of 18 and 23 have a Child Trust Fund which has matured but which they have not claimed. The average Child Trust Fund account is worth £2,242. Nature of a Child Trust Fund A Child Trust Fund is a tax-free savings account that was available for children born between 1 September 2002 and 2 January 2011. The scheme closed in 2011. Payments of up to £9,000 a year can be made into an exis