Tax

Latest news

Image for hmrc claims chilling effect loan charge foi

Tax | HMRC claims ‘chilling effect’ of loan charge FOI

HMRC has been cleared of withholding emails relating to the loan charge as disclosure would have stifled internal debate and have a ‘chilling effect’ on staff

21 Mar 2023

Tax

HMRC

Law and Regulation

Image for thames freeport given green light

Tax | Thames freeport given green light

A freeport in east London has received final government approval, with £25m in seed funding released to drive development, becoming the sixth freeport to go live

21 Mar 2023

Tax | Inheritance tax take hits record £6.4bn

Inheritance tax (IHT) receipts in February totalled £531m, bringing in a record for the year so far at £6.4bn

21 Mar 2023

Tax | Q&A: breaching national minimum wage rates

In this week’s Q&A, Croner-i experts explain the April increases to national minimum wage rates and how to avoid breaching the rules

21 Mar 2023

Tax

Employment Tax

Tax Compliance

Image for celebrity big brother star loses ps1m tax appeal

Tax | Celebrity Big Brother star loses £1m tax appeal

A former Celebrity Big Brother contestant has lost a First Tier Tribunal (FTT) appeal over capital gains tax totalling £1m related to his residency in the UK

20 Mar 2023

Tax | Making Tax Digital delay costs £1.75bn

The deferral of Making Tax Digital (MTD) for Income Tax Self-Assessment will cost the Treasury over £1.75bn in lost tax

17 Mar 2023

Tax | Budget 2023: road tax to increase by 13.4%

Road tax for car drivers is set to rise by 13.4% in line with the retail price index (RPI) from 1 April 2023

17 Mar 2023

Tax

Budget

Politics

Image for accountants can payroll bik expenses clients

Tax | Accountants can payroll BIK expenses for clients

HMRC plans to allow tax agents to run payroll benefits in kind (BIK) on behalf of clients for the first time

17 Mar 2023

Tax

Employment Tax

Tax Compliance

Tax | TikTok banned on HMRC devices

Social media app TikTok has been banned on government electronic devices including HMRC phones, but it will be accessible for investigation work

17 Mar 2023

Tax

HMRC

Politics

Image for higher rate taxpayers ps1k worse after budget

Tax | Higher rate taxpayers £1k worse off after Budget

Taxpayers will feel ‘continuing pain’ in 2023 as the Budget did little to alleviate the cost of living crisis

16 Mar 2023

Tax | Budget 2023: capital gains tax avoidance loophole closed

The government will tighten up the rules when an asset is disposed of under an unconditional contract so that HMRC has up to four years to investigate taxpayers

16 Mar 2023

Tax | Budget 2023: enterprise management incentive schemes simplified

A number of administrative changes to the enterprise management incentives (EMI) scheme will be introduced in April 2023 to simplify the application process

16 Mar 2023

Tax | Budget 2023: plans to raise threshold for cash basis accounting

As part of tax simplification, the government plans to reform cash basis accounting rules by increasing the turnover threshold, possibly to £1.35m, to allow more businesses to use the system

16 Mar 2023

Tax | Accountants react to ‘bland’ Budget

As the Chancellor set out his plans in the Budget, accountants and auditors reacted with disappointment, specifically at the lack of support for small businesses

16 Mar 2023