Business Tax

Latest news

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 | 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 | 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 | 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 | TalkTalk loses £10m appeal over VAT discount scheme

TalkTalk has lost a First Tier Tribunal (FTT) appeal over VAT on a prompt payment discount scheme it introduced in 2014

11 Jan 2023

Tax | Accountants lose £200k appeal over dividend scheme

Two accountants have lost an appeal at the Upper Tribunal against a First Tier Tribunal (FTT) decision over a dividend replacement scheme to generate tax-free income

6 Jan 2023

Tax | Shell to pay £1.7bn in windfall taxes

Oil giant Shell will pay $2bn (£1.7bn) in windfall taxes in the UK and EU this quarter as the government’s energy profits levy on excess profits kicks in

6 Jan 2023

Tax

Business Tax

Image for hmrc requires old xbrl tagging 2022 accounts

Tax | HMRC requires old XBRL tagging for 2022 accounts

Due to technical and operational issues, HMRC is currently unable to accept accounts tagged with the Financial Reporting Council 2022 Taxonomy

5 Jan 2023

Tax | Supermarkets see £550m business rates cut

The largest supermarkets will see their business rates bill cut by £687m over the next three years, according to analysis by Altus Group

4 Jan 2023

Tax

Business Tax

Tax Compliance

Image for capital gains tax bill breaks ps15bn first time

Tax | Capital gains tax bill breaks £15bn for first time

The capital gains tax (CGT) bill has broken the £15bn barrier up 27% year on year as more business owners sell their companies

3 Jan 2023

Tax

Business Tax

Personal Tax

Tax | Alcohol duty freeze extended

There is a small respite for the hospitality sector as the freeze to UK alcohol duty rates has been extended six months to 1 August 2023

20 Dec 2022

Tax

Business Tax

Budget

Image for proceeds crime appeal over ps66m tax evasion succeeds

Tax | Proceeds of crime appeal over £6.6m tax evasion succeeds

The Court of Appeal has sent an appeal over a proceeds of crime demand back to the Crown Court regarding a confiscation order totalling £6.6m in VAT and PAYE fraud

14 Dec 2022