The latest HMRC data shows that UK businesses spending on research and development (R&D) reached a record high of £47bn with claims for tax relief reaching £7.4bn in 2019-20
The Labour party plans to scrap business rates, hike the rate of digital services tax and review the tax system to remove a number of reliefs in a bid to close tax loopholes
Taxwatch tells the UK to support the proposals put forward by the G20 rather than the G7 when taxing the tech giants as the G7’s proposals will mean tech giants will ‘almost certainly’ pay less tax
As part of a range of measures to support businesses post-covid, the extended loss carry back rules provide a temporary tax break for businesses. Anna Walker, practice development manager at Onyx Accountants, explains
Between April and August 2021 HMRC collected £280.4bn worth of tax which is £84.7bn more than this period last year as the economy began to recover post pandemic
The Court has found that a company’s payment to its sole owner of profits made on a property sale was not deductible as a loan and was liable for £18k tax
HMRC is targeting wealthy non-domiciled individuals by sending ‘nudge’ letters to those who may not have failed to declare and pay the annual remittance basis charge
Members of the All-Party Parliamentary Group on anti-corruption and responsible taxes has criticised HMRC after it agreed an £82m settlement with General Electric over a disputed $1bn (£725m) tax bill
The House of Lords Finance Bill Committee is planning to investigate the income tax basis period reform and uncertain tax treatment and has launched a consultation
The court has dismissed an appeal against a £434,318.73 penalty notice which was given to a sole director due to deliberate inaccuracies in the company’s tax return
320,000 businesses face an even higher National Insurance contribution rate with the new Health and Social Care Levy according to a paper published by the House of Commons Library
Over the last two years, out of the 32,675 tax claims that had been queried by taxpayers almost half, 16,120, of the claims were dropped altogether by HMRC
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