Business Tax

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Tax | Plastic packaging tax kicks in from April

In a bid to encourage the use of recycled plastic, the government is introducing the plastic packaging tax from April

30 Mar 2022

Tax Compliance

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Tax | Strike out notice against £214k tax appeal allowed

The court has allowed HMRC’s strike out notice against an appeal for a £214,000 input tax refund which was linked to evasion of VAT

29 Mar 2022

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Tax | How to prepare for R&D tax regime changes

Changes to the qualifying requirements for research and development (R&D) tax credits will expand the level of support. Lindsey Copland, tax partner at Grant Thornton UK LLP examines the key compliance issues

29 Mar 2022

Tax | Chancellor defends ‘progressive’ Spring Statement

Chancellor Rishi Sunak defended his Spring Statement yesterday calling his measures ‘progressive’ and that his income tax cut announcement was to ‘give a sense of direction’

29 Mar 2022

Tax | Supreme Court finds IFRS 2 debit is tax deductible

The Supreme Court has ruled that NCL Investments was able to deduct accounting debits from its corporate tax receipts as it was in accordance with IFRS 2

28 Mar 2022

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Tax | Taxi drivers face tough tax compliance rules

HMRC is clamping down on taxi drivers, minicab drivers and scrap metal merchants from April with new tax evasion checks

28 Mar 2022

Tax | Property developer loses £153k tax case

A developer has lost an appeal against tax amendments and penalties worth £153,084.23 as the court ruled that he failed to declare tax, and submitted inaccurate returns, over eight years

25 Mar 2022

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Tax | Future income tax cut ‘indefensible’, says IFS

The tax burden is the highest since the 1950s with the rise in the national insurance threshold from July only providing a slim benefit for taxpayers, despite announcements at the Spring Statement

24 Mar 2022

Tax | Spring Statement: employment allowance raised to £5k

In a bid to support businesses, the Chancellor announced a 20% rise in the employment allowance from the new tax year

23 Mar 2022

Tax | Shopkeepers lose £243k tax appeal

Court upholds VAT assessments, penalties, and income tax amendments totalling £234,516.22 ruling that the shopkeepers had deliberately filed incorrect returns to reduce their tax liability

23 Mar 2022

Tax | VAT take £61bn higher than last year

The revenue raised from VAT has hit its fifth highest consecutive month collecting over £50bn more than the previous year while the take for April 2021 to February 2022 was £61.3bn higher

22 Mar 2022

Tax | What to expect in the Spring Statement

In the Spring Statement tomorrow, predictions suggest that the Chancellor will have a ‘tax light’ speech but what can we expect to see?

22 Mar 2022

Tax | Tax firm fined £150k in tax avoidance case

The Upper Tribunal has fined AML Tax £150,000 for failing to comply with formal information notices issued as part of HMRC’s investigation into the firm’s £3.3m tax avoidance case

21 Mar 2022