Tax

Latest news

Image for number rd claims drop while expenditure rises

Tax | Number of R&D claims drop while expenditure rises

The 2022/23 tax year saw £7.5bn worth of research & development tax credit claims, rising by just £1bn despite the significant drop in businesses claiming the relief

27 Sep 2024

Tax

Business Tax

HMRC

Image for can employers expect announcements upcoming budget increase employee costs

Business | Can employers expect announcements in the upcoming Budget that increase employee costs?

RSM’s Susan Ball, partner and Charlie Barnes, director, and head of employment legal services, look at some of the options that may be under consideration for 30 October

26 Sep 2024

Tax | R&D firms raided over suspected tax relief fraud

The research & development (R&D) firms Green Jellyfish and Kirby & Haslam were raided on 24 September under fraud allegations, but say they 'have nothing to hide'

26 Sep 2024

Tax

HMRC

Tax Compliance

Image for fishery not eligible ps800k business relief

Tax | Fishery not eligible for £800k business relief

The executors of the business attempted to claim business relief for inheritance tax reasons but were denied as it was considered ‘a business of holding investments’

25 Sep 2024

Tax | Q&A: What happens to capital allowances pool balance after April 2025?

The capital allowances pool is effectively taken over by the ongoing property business with written down allowances being claimed as the losses become part of the ongoing property business

25 Sep 2024

Tax

Tax Compliance

Tax Planning

Image for shein accused tax dodging superdry boss

Tax | Shein accused of tax dodging by Superdry boss

Superdry boss Julian Dunkerton has accused the budget online retailer Shein of being allowed to ‘dodge tax’ in an unfair way

25 Sep 2024

Tax | Capital gains tax receipts double

Many are expecting increases to capital gains tax (CGT) rates to be announced in the October 2024 Budget, data shows the reduction in the rate has helped to increase receipts

25 Sep 2024

Tax | How can incentives for capital investment better support SMEs?

Partner at RSM, James Tetley, asks how SMEs can be supported by the capital investment sought out by the Chancellor

24 Sep 2024

Tax | Frozen thresholds decreasing disposable income

The median household disposable income in the UK in 2023 was £34,500, decreasing by 2.5% from 2022 while those on the lower end of the scale saw a 2.3% increase

24 Sep 2024

Tax

Personal Tax

Budget

Image for 671000 young adults urged claim their trust funds

Tax | 671,000 young adults urged to claim their trust funds

HMRC are today informing over half a million 18–22-year-olds with a Child Trust Fund to claim their savings as an average of £2,212 sits in each one

24 Sep 2024

Tax

HMRC

Image for vat private school fees will impact 55 parents

Tax | VAT on private school fees will impact 55% of parents

Over half of children currently in private education may be impacted due to the rising costs and addition of VAT on fees

24 Sep 2024

Tax | NI contributions down by over £1bn

The total tax and national insurance (NI) receipts for August were up but the national insurance take is down by over £1bn from August 2023, balanced out by a £1bn increase in income tax receipts

24 Sep 2024

Tax

HMRC

Image for era trickle down trickle out economics over

Tax | ‘The era of trickle down trickle out economics is over’

The first female Chancellor, Rachel Reeves delivered her speech at the Labour Party Conference in Liverpool where she stated ‘Britain is open for business once again’

23 Sep 2024

Tax

Politics

Tax | Tax savings moves to make before the budget

Experts, Sarah Coles, head of personal finance and Helen Morrissey, head of retirement analysis from Hargreaves Lansdown recommends tax-saving moves which would be beneficial to make before 30 October

23 Sep 2024

Tax

Personal Tax

HMRC