Business Tax

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Image for bp set pay ps583m windfall tax

Tax | BP set to pay £583m in windfall tax

Energy giant BP has reported bumper profits of $27.6bn (£23bn) as it sets aside funds for first windfall tax payment

7 Feb 2023

Tax

Business Tax

Image for how smes can take control their tax and accounting

Tax | How SMEs can take control of their tax and accounting

Vicki Bracey, product manager at Mettle, discusses the importance of tax and accounting for small business owners, and how to prepare for the year ahead

7 Feb 2023

Tax

Business Tax

Image for 300k taxpayers miss tax return deadline

Tax | 300k taxpayers miss tax return deadline

A record 11.7 million people submitted their tax returns on time, but over 300,000 taxpayers missed the self assessment deadline

1 Feb 2023

Tax | 2.7m taxpayers still need to do tax returns

With a few hours to go until the deadline, HMRC is urging more than two million taxpayers to get their self assessment tax return done

31 Jan 2023

Tax | Q&A: corporation tax and changing year end

In this week’s Q&A, Julian Payne, tax advisor at Croner-i, explains the key issues to consider when preparing year end accounts after changing the year end from December to June

31 Jan 2023

Tax | HMRC must stop £469m R&D tax abuse, say Lords

HMRC needs to improve compliance capability to crack down on abuse of the research and development (R&D) tax credit system, says influential House of Lords Economic Affairs Committee

31 Jan 2023

Tax

Business Tax

HMRC

Image for gift aid claims process needs be automated

Tax | Gift Aid claims process needs to be automated

Charities are calling for more automation of the Gift Aid claims system to reduce red tape and stop repetitive entering of donor details

30 Jan 2023

Tax | Chattels, wasting assets and capital gains tax

Certain assets such as plant, watches and paintings valued below £6,000 are exempt from capital gains tax but there are some restrictions, explains Chris Thorpe, technical officer at CIOT

25 Jan 2023

Tax | Call for tax on super rich to tackle inequality

The global super rich should be charged taxes as high as 70% to help tackle growing inequality, according to economist Joseph Stiglitz

24 Jan 2023

Tax | Tax take hits £553bn as threshold freeze bites

Total tax receipts have hit £553.2bn so far this year, up £48bn on the same period a year earlier, with a £1.7bn boost from the windfall tax on energy producers

24 Jan 2023

Tax | PM orders ethics probe into Zahawi’s tax affairs

Rishi Sunak has asked his independent ethics adviser to investigate former chancellor Nadhim Zahawi’s tax affairs as ‘questions need answering’

23 Jan 2023

Tax | Investment will drop without super-deduction tax break

The head of the CBI is calling on government to focus on providing tax breaks for businesses to encourage investment and support the stalling economy

23 Jan 2023

Tax | 15% base corporation tax set to raise $220bn

The 15% base corporate tax rate for multinationals is set to raise $220bn (£178bn) from global businesses, $70bn (£57bn) higher than expected, says OECD

20 Jan 2023

Tax

Business Tax

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