The corporation tax (CT) rate will be cut to 19% in 2017, bringing UK rates in line with Singapore, Hong Kong and Switzerland, the Chancellor announced in his Summer Budget, with a further reduction to 18% in 2020, a measure which is set to cost the Exchequer £4bn over three years

Chancellor George Osborne has announced that the Employment Allowance (EA), designed to cut National Insurance contributions (NICs) for smaller employers, is to be raised to £3,000 from April 2016, partly to counteract additional costs to small businesses from the introduction of a National Living Wage (NLW)

The Summer Budget included plans for the government to enact one of the key planks of the Conservative Party’s election manifesto, which is to extend the inheritance tax (IHT) regime with the introduction of an additional nil-rate band when a main residence is passed on death to direct descendants, namely children and grandchildren

In today’s Budget, Chancellor George Osborne confirmed the government is to legislate for a ‘tax lock’, setting a ceiling for the main rates of income tax, the standard and reduced rates of VAT, and employer and employee (Class 1) NICs rates, ensuring that they cannot rise above their current (2015-16) levels

HMRC has set up a dedicated Greek helpline as part of its time-to-pay service to help taxpayers with payment and cashflow problems as a result of the banking controls in Greece 

The director of a company which collapsed with debts of over £43m owing to HMRC has been disqualified for 11 years, after an Insolvency Service investigation found he breached his position of trust by knowingly instructing the submission of a VAT return which was under-declared by £5m