Taxation

As well as charging interest on tax paid late, HMRC may also levy a penalty where there is an error in a tax return. These penalties may be judged as…

Following on from the alleged abuse of the Research and Development (R&D) tax relief schemes, particularly the SME tax credit scheme, HMRC has issued ‘nudge’ letters to the directors of…

With the UK economy flatlining, the Chancellor is under pressure to announce measures to stimulate growth. There are even calls for him to cut corporation tax which is scheduled to…

The government announced in the Autumn Budget 2021 that it would reform the way that trading profits are allocated to tax years for income tax purposes. Broadly, the intention is…

For all individuals, the first £2,000 of dividend income is taxed at 0%. The government have now decided that this 'dividend allowance’ of £2,000 will be reduced to £1,000 in…

For those provided with an electronic or ultra-low emission company car (emitting less than 75g of CO2 per kilometre), there will be annual increases in the benefit-in-kind percentages, and therefore…

Pensioners and those receiving means-tested benefits will be relieved that their 2023/24 payments will be updated in line with the inflation of 10.1%. There will also be further support for…

The 23 September Fiscal Statement included the unexpected news that the “off-payroll working” (OPW) rules would be scrapped from 6 April 2023. These rules were introduced for public sector employers…