The government has published a draft of Finance Bill 2023 with details of tax changes due to come into effect from April including a 6% hike in corporation tax, end of lifetime allowance and full expensing rules
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
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
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
In the Budget, the Chancellor announced a ‘Brexit pubs guarantee’ to keep the tax on beer and cider up to 11p lower than supermarkets, but wine and spirit prices soar
HMRC and the government need to take urgent action to clamp down on the prevalence of R&D tax fraud and reform the rules, says Lord Leigh of Hurley, chair of the Finance Bill Sub-Committee
HMRC has sent letters to businesses advising them to check their super-deduction reporting to ensure they have not claimed for lease related transactions
Tax changes mean that the choice between paying dividends or taking a bonus is narrowing, especially as corporation tax rises to 25% from April. Stephen Relf, content manager – tax at Croner-i, explains the pros and cons
In this week’s Q&A, Croner-i tax adviser Ibrahim Nalla, explains the tax liability when allocating profits to multiple members of a limited liability partnership
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