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Tax | HMRC downtime as PAYE services migrate to cloud

HMRC is migrating the national insurance and PAYE service (NPS) to a cloud-based IT platform this weekend

22 Jun 2023

Tax

HMRC

Technology

Image for construction boss must pay ps18m evading tax

Tax | Construction boss must pay £1.8m for evading tax

Businesses in construction, film production and freight, were just some of the 145 businesses that attempted to dodge £21.5m in taxes, all of which have since been handed steep penalties

22 Jun 2023

Tax | HMRC to appeal Gary Lineker IR35 case

After losing the argument over Gary Lineker’s employment status, HMRC plans to appeal the ruling at the Upper Tribunal

22 Jun 2023

Tax

HMRC

Case Reports

Tax | Director loses £84k VAT case

The First Tier Tribunal (FTT) has ruled that a director did not have a reasonable excuse for not paying an £84k VAT bill on time

22 Jun 2023

Tax | Join our webinar on tax and VAT rule changes

We will be running a webinar on the main VAT and indirect tax changes due to come into effect in the Finance Bill

22 Jun 2023

Tax

VAT

Tax Compliance

Image for small businesses failed pay ps20bn taxes

Tax | Small businesses failed to pay £20bn in taxes

The largest share of the tax gap is down to small businesses which do not pay the right amount of tax, either by making careless errors, failing to take reasonable care or deliberate evasion

22 Jun 2023

Tax

HMRC

Tax Compliance

Image for interest rate hiked 05 15 year high

Business | Interest rate hiked 0.5% to 15-year high

The Bank of England has increased interest rates by 0.5% to 5% as it struggles to bring inflation under control

22 Jun 2023

Business

Companies

Accountancy Firms

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Business | Accountants cautious about potential of AI

Two thirds of accountants are concerned about the risks of using generative artificial intelligence (AI) and ChatGPT in in their work

22 Jun 2023

Tax | Top 10 tips: inheritance tax planning

As annual inheritance tax receipts exceed £6bn a year, it is essential to follow some basic tax planning to protect your estate. Stevie Heafford, tax partner at HW Fisher, explains

21 Jun 2023

Tax | Property tax take falls by £900m

The slump in property transactions has hit the Treasury’s coffers as the latest tax take figures show stamp duty land tax receipts were down £900m in a single month as inheritance tax surged

21 Jun 2023

Business | Cashpoint boss jailed for £3m fraud

A director of an ATM reconditioning company has been jailed for 12 years after stealing more than £3m from his clients to fund a lavish lifestyle

21 Jun 2023

Business | Inflation stays stuck at 8.7%

The current rate of inflation has seen no change at 8.7% in May, the same rate it was in April, despite expectations of a fall

21 Jun 2023

Business

Companies

Accountancy Firms

Image for regulator seizes ps270k charity

Business | Regulator seizes £270k from charity

An international charity has been struck off the register of charities after the regulator found it had spent only 5% of its income on charitable activity

21 Jun 2023

Business

Accountancy Firms

Charities

Image for one four workers want change jobs

Business | One in four workers want to change jobs

Nearly a quarter of employees are considering changing their jobs in the next year to help stay afloat during the cost of living crisis

21 Jun 2023

Business

Companies

Accountancy Firms

Tax | Companies fined £7m for underpaying minimum wage

Major high street retailers, WH Smith, Lloyds Pharmacy and M&S, are among more than 200 businesses which failed to pay national minimum wage rates to employees

21 Jun 2023

Tax

Employment Tax

HMRC

Tax | Making Tax Digital too complex for first pilot, says HMRC

The head of HMRC told MPs that it had underestimated the complexity of Making Tax Digital (MTD), which had caused eight years of delay and a failed pilot scheme

20 Jun 2023

Tax | Cryptoasset regulation: a tale of two reports

A lack of action means UK regulators are playing catchup on how to control the rapidly growing crypto market, argues Ben Lee, crypto tax partner, Andersen LLP

20 Jun 2023

Tax

Personal Tax

Tax Compliance

Image for treasury will report annually tax simplification progress

Tax | Treasury will report annually on tax simplification progress

Following lobbying by MPs, Treasury officials will write to the Treasury Committee once a year with an update on progress on government efforts to simplify tax rules

20 Jun 2023

Tax

HMRC

Tax Compliance

Image for qa tax deemed disposals property

Tax | Q&A: tax on deemed disposals of property

In this week’s Q&A, Croner-i tax advisor Julian Payne, explains exit charges when disposing of property and tax liability for taxpayers leaving the UK on a permanent basis

20 Jun 2023

Finance | ESG reporting can be too ‘nebulous’

Audit committee chairs have little influence over the quality of ESG reporting at their companies, while they criticised how many disparate issues were shoehorned into the catch-all phrase

20 Jun 2023

Finance

ESG & Sustainability

Corporate Governance

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Tax | Diverted profits tax may merge with corporation tax

The government is considering tightening the rules to make it more difficult for multinationals to avoid paying the diverted profits tax and bring it into the corporation tax regime

20 Jun 2023

Tax

Consultations

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Business | Gorilla Accounting snapped up by Azets

Within hours of securing more private equity investment from PAI Partners, Azets Group has acquired Gorilla Accounting

20 Jun 2023

Business

Accountancy Firms

Careers

Leadership & Management

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Business | Accountants criticise plans for shared audit

A group of ICAEW accountants in Manchester have urged the government to increase their focus on professionalism as part of its long-awaited plans to reform audit

20 Jun 2023

Business

Companies

Accountancy Firms

Image for hmrc issues 18k penalties over careless errors

Tax | HMRC issues 18k penalties over careless errors

Careless mistakes made on tax returns resulted in penalties for 18,641 taxpayers last year while 1,025 fines were issued for deliberate errors

20 Jun 2023

Tax

Personal Tax

Tax Compliance

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Latest news

Tax | HMRC downtime as PAYE services migrate to cloud

Tax | Construction boss must pay £1.8m for evading tax

Tax | HMRC to appeal Gary Lineker IR35 case

Tax | Director loses £84k VAT case

Tax | Join our webinar on tax and VAT rule changes

Tax | Small businesses failed to pay £20bn in taxes

Business | Interest rate hiked 0.5% to 15-year high

Business | Accountants cautious about potential of AI

Tax | Top 10 tips: inheritance tax planning

Tax | Property tax take falls by £900m

Business | Cashpoint boss jailed for £3m fraud

Business | Inflation stays stuck at 8.7%

Business | Regulator seizes £270k from charity

Business | One in four workers want to change jobs

Tax | Companies fined £7m for underpaying minimum wage

Tax | Making Tax Digital too complex for first pilot, says HMRC

Tax | Cryptoasset regulation: a tale of two reports

Tax | Treasury will report annually on tax simplification progress

Tax | Q&A: tax on deemed disposals of property

Finance | ESG reporting can be too ‘nebulous’

Tax | Diverted profits tax may merge with corporation tax

Business | Gorilla Accounting snapped up by Azets

Business | Accountants criticise plans for shared audit

Tax | HMRC issues 18k penalties over careless errors