Tax

Latest news

Image for average 14 minute wait hmrc answer phone

Tax | Average 14-minute wait for HMRC to answer phone

The waiting time for callers to HMRC is not improving with an average 14-minute wait time while one in five calls were not answered

16 Jan 2023

Tax

HMRC

Image for trump organization fined 16m tax fraud

Tax | Trump Organization fined $1.6m for tax fraud

The Trump Organization has been ordered to pay $1.6m (£1.3m) after being found guilty of criminal tax fraud related to running a scheme to defraud tax authorities for 15 years

16 Jan 2023

Tax | Businesses need tax breaks to achieve net zero

The government needs to review tax policy to encourage investment in net zero projects, including specific tax breaks and capital allowances

16 Jan 2023

Tax

Politics

Image for scotland gain two new freeports

Tax | Scotland to gain two new freeports

Scotland’s first green freeports based at Cromarty Firth and the Forth have been given the green light by the UK and Scottish governments

16 Jan 2023

Tax | Top 1% hold more wealth than 70% of Britons

The richest 1% of Britons hold more wealth than 70% of the population, while the four richest Britons have more wealth than 20 million individuals, reveals Oxfam report

16 Jan 2023

Tax

Personal Tax

Image for taxpayers liable ated must revalue property

Tax | Taxpayers liable for ATED must revalue property

HMRC is reminding companies taxed under the annual tax on enveloped dwellings (ATED) must revalue their property in 2023

16 Jan 2023

Tax

Property Tax

Tax Compliance

Image for government consults creation single rd tax relief scheme

Tax | Government consults on creation of single R&D tax relief scheme

The Treasury has launched a consultation to simplify research and development (R&D) tax reliefs by merging the current SME and large business schemes

13 Jan 2023

Tax

Consultations

Image for basis period reporting overlap relief not finalised

Tax | Basis period reporting on overlap relief not finalised

HMRC has issued more details about the move to basis period reporting, updating the Association of Taxation Technicians (ATT) on easements for provisional figures and overlap relief

13 Jan 2023

Tax | Firms paid duplicate VAT charges due to CDS issue

HMRC has issued new guidance to businesses that may have overpaid VAT on declarations made at the end of last year due to a technical issue with the Customs Declaration Service (CDS)

13 Jan 2023

Tax | HMRC changes option to tax process

HMRC will no longer send option to tax notification receipt letters from 1 February to improve efficiency

13 Jan 2023

Tax | Higher rate Scottish taxpayers pay 60% of tax

Higher and top rate taxpayers in Scotland are responsible for more than half the annual tax raised, paying around £7bn a year

12 Jan 2023

Tax

Personal Tax

HMRC

Image for finance act 2023 receives royal assent

Tax | Finance Act 2023 receives Royal Assent

Changes to the tax code due to come into effect from April 2023 including rise in corporation tax rate and changes to R&D tax are now in force in Finance Act 2023

12 Jan 2023

Tax

Law and Regulation

Image for liverpool and east anglia freeports get green light

Tax | Liverpool and East Anglia freeports get green light

The Liverpool and East Anglia freeports have received final government approval, with £25m in seed funding

11 Jan 2023

Tax | HMRC cracks down on rogue repayment agents

HMRC is taking immediate action to clamp down on rogue repayment agents who entice taxpayers into agreements to reclaim overpaid tax while taking large commissions

11 Jan 2023