Aug 7, 2023 | Business TaxPersonal Tax
Total tax debt hit £44.5bn in June - a 6% increase on the same time last year - according to the latest figures from HMRC. While HMRC said there was "little change" in the proportion of customers filing their tax returns before the deadline, the number of customers...
Jul 31, 2023 | Business Tax
A lack of costings, growing levels of fraud and excessive complexity mean that the Treasury needs to be more transparent about multi-billion pound tax breaks, MPs have said. The Treasury committee has called on HMRC and the Treasury to provide a breakdown of how the...
Jul 13, 2023 | Business Tax
The Chartered Institute of Taxation (CIOT) is warning that HMRC's efforts to tackle abuse of the R&D tax relief system are resulting in them rejecting legitimate claims and stone-walling others. In a letter to HMRC, the CIOT wrote that the ‘volume compliance'...
Jul 10, 2023 | Business Tax
A new system for duties on alcoholic drinks is due to come into effect next month, with new rates applying from 1 August 2023. Currently, beer and spirits are taxed based on their alcoholic strength which is measured by alcohol by volume (ABV), while the other types...
Jul 6, 2023 | Business Tax
The Chartered Institute of Taxation (CIOT) has warned that HMRC's approach to tackling research and development (R&D) fraud deters legitimate claims. While CIOT acknowledged that abuse of R&D relief is a "substantial problem", the professional body shared...
