The latest figures from HM Revenue and Customs show that inheritance tax receipts increased to £3.2 billion in the five months from April 2023 to August 2023.
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Capital Gains Tax changes may reveal underpaid tax
Changes to regulations regarding Capital Gains Tax (CGT) and separating couples could alert people to the fact that they may have failed to pay sufficient tax in the past.
UK businesses face money laundering threat under Treasury shake-up
UK businesses could be exposed to greater risks of money laundering under new proposals being put forward by the UK government,
HMRC poised to scrap ‘double taxation’ of IR35 in welcome move for contractors and their clients
Contractors and their clients alike have welcomed the news that HMRC is on the verge of scrapping the controversial ‘double taxation’ of IR35 under the off-payroll working rules – in a positive development for contractors who have had their contracts cancelled as a result of these rules.
HMRC tax enquiries jumped by over 20 per cent last year in the space of just two years with 2999,000 enquiries last year
The UK’s 4.3m self-employed workers have been advised to prioritise their tax compliance after official HMRC data shows that the tax authority opened 299,000 tax enquiries last year – a 52,000 jump equivalent to 21% compared to two years before.
HMRC Gives Businesses Extra Week to Prepare for New R&D Information Form
HM Revenue and Customs (HMRC) has announced that the rollout of the new additional information form that is required to support all claims for Research and Development (R&D) tax relief or expenditure credit has been pushed back by seven days.
HMRC says 25% of R&D Tax Relief Scheme Disbursements are Unaccounted For
HM Revenue & Customs has calculated that in the 2020-21 financial year, £1.1 billion was taken due to fraud and mistakes from two separate programs targeting both larger and smaller companies.
HMRC to appeal Gary Lineker IR35 case
After losing the argument over Gary Lineker’s employment status, HMRC plans to appeal the ruling at the Upper Tribunal
Women’s private pensions worth 35% less than men’s in the UK
Women’s private pension pots in the UK are typically worth 35% less than those of their male colleagues by the time they reach 55, according to the first major government study into what has been termed “the great gender pension chasm”.
UKRI hit with £36m IR35 bill, taking non-compliance in public sector to £300m
Non-departmental funding body UK Research and Innovation (UKRI) must pay HM Revenue & Customs (HMRC) £36m in back-dated tax.
Inheritance Tax Receipts raise £600 million in a month
Inheritance tax receipts hit £600 million in April 2023 according to data released by HMRC this morning. This is £100 million higher than in April of the previous tax year.
UK companies overpaid £11.9bn in corporation tax last year
UK businesses overpaid £11.9bn in corporation tax the past year says UHY Hacker Young, the national accountancy group.
Consultation launched into double-taxation of IR35
News that the government has launched a consultation to address the ‘double taxation’ of IR35 under the off-payroll working rules has been universally welcomed.
R&D tax reliefs revamp questioned
Government proposals to streamline the research and development (R&D) tax relief system have been called into question by top 10 accountancy firm Azets.
Bitcoin on track to hit $100,000, says Standard Chartered
Bitcoin could reach $100,000 by the end of next year, an analyst at Standard Chartered has claimed.
