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The amount of investment in venture capital trusts (VCTs) on which income tax relief is claimed grew in 2021-22, reflecting the increase in funds raised by such trusts in that tax...
Self assessmentAs the 31 January deadline to submit 2022-23 self-assessment tax returns approaches, nearly 44,800 people have arranged to pay their tax – totalling almost £148m –...
The value of tax penalties has increased by 25% to £851m between November 2022 and October 2023 up from £681m November 2021 and October 2022. Accountancy firm UHY...
Small businesses are reporting the highest levels of confidence in their outlook since the lockdowns in 2021, according to research by Moore UK.A survey of 500 directors of UK...
Partnerships with corporate partners are able to claim capital allowances that are available only to companies within the charge to corporation tax, HMRC has confirmed. This covers...
HMRC has published Agent Update 116 (January 2024) which provides technical news and updates. Articles in this issue include a reminder that from 26 February 2024, all agents...
The reporting and paying of income tax and class 1A National Insurance contributions (NIC) on benefits-in-kind via payroll software is to be mandatory from April 2026, HMRC has...
Tax practice news from around the country.
Dispute resolutionHMRC has revised its alternative dispute resolution guidance (ADR) to state that large businesses no longer need to contact their customer compliance manager or...
The amount of tax, interest and penalties generated per large-scale tax avoidance and fraud case undertaken by HMRC has slumped in recent years despite a huge boost to staffing...
In 2024, despite the National Insurance rate cut, the planned freeze in income tax and National Insurance thresholds and allowances in April result, overall, in a tax increase,...
HMRC has confirmed that subpostmasters who receive top-up payments under the Horizon Shortfall Scheme (HSS) will not be subject to penalties or interest where those payments are...
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