Business Tax

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Image for tax rises are new normal says ifs

Tax | Tax rises are the new normal says IFS

Tax rises are the new normal says the IFS with its research showing that over two years, the government introduced the same level of tax hikes as Tony Blair's Labour did across 10 years

18 Mar 2022

Tax | McDonald’s accused of avoiding £295m in tax

The charity War on Want claims that McDonald’s has not paid around £295m in tax over the last 10 years and calls on HMRC to launch an investigation into the fast food giant

17 Mar 2022

Tax

Business Tax

Image for treasury set raise ps125bn more tax expected

Tax | Treasury set to raise £12.5bn more tax than expected

The freeze in income tax thresholds and rising inflation means that the Treasury will bring in £12.5bn more in tax than predicted at the last Budget

17 Mar 2022

Tax

Business Tax

Personal Tax

Image for eu blocks minimum corporate tax deal

Tax | EU blocks minimum corporate tax deal

Poland, Sweden, Estonia, and Malta have voted against a French proposed compromise on the introduction of a minimum global corporate tax rate in the EU

16 Mar 2022

Tax

Business Tax

International Tax

Image for court rejects ps32m claim film scheme not trading

Tax | Court rejects £3.2m claim as film scheme not trading

A partnership set up to exploit film development costs has lost an appeal at the First Tier Tribunal (FTT) after claiming that it was carrying on a trade

15 Mar 2022

Tax

Business Tax

Case Reports

Image for taxpayer loses ps14m tax dispute over penalty

Tax | Taxpayer loses £1.4m tax dispute over penalty

The courts have ruled that a taxpayer had made ‘no reasonable excuse’ for not paying a £14m tax bill and has upheld the £1.4m penalties issued by HMRC

10 Mar 2022

Tax

Business Tax

Image for umbrella company workers face higher nic increase

Tax | Umbrella company workers face higher NIC increase

People working within an umbrella company will see a 2.5% increase on their National Insurance contributions (NICs) as they will have to pay for both the employee and employer levy

8 Mar 2022

Tax

Business Tax

Employment Tax

Image for hmrc asks businesses label nic rise payslips

Tax | HMRC asks businesses to label NIC rise on payslips

HMRC has emailed employers ‘strongly encouraging’ them to label the increased National Insurance contributions (NICs) rate on their employee’s payslips as ‘for the NHS’

4 Mar 2022

Tax | 1.3m miss self assessment deadline

HMRC reveals that 1.3m taxpayers did not file their self assessment returns by the 28 February deadline

1 Mar 2022

Tax | Tax regime needs to focus on investment

The Chancellor needs to focus on a tax regime that clarifies and focuses on business investment in order to support growth in the economy

1 Mar 2022

Tax | Major tax reform needed to tackle inequality

Tax experts have stated that a major overhaul of the overall tax system is needed to tackle inequality and support business

1 Mar 2022

Tax | Treasury consults on online sales tax

The Treasury has published an early stage consultation which explores the arguments for and against the introduction of an online sales tax (OST)

28 Feb 2022

Tax

Business Tax

Image for hmrc advisory fuel rates company car users 1 march 3

Tax | HMRC advisory fuel rates for company car users from 1 March

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 March 2022, keeping rates unchanged despite huge hikes in the cost of fuel at forecourts

23 Feb 2022

Tax | Business property relief and investments

When making a claim for business property relief, it is important to ensure that it is related to business activity and not pure investment. Stephanie Webber, tax writer at Croner-i, examines the tax compliance issues

23 Feb 2022

Tax | Tax receipts £124bn higher than last year

HMRC continues to increase its tax take with tax receipts for April 2021 to January 2022 coming in at £123.8bn higher than in the same period a year earlier

22 Feb 2022