Jun 28, 2023 | Business Tax
UK businesses need tax incentives to support sustainability reporting standards and hit net zero targets, according to the Institute of Chartered Accountants of Scotland (ICAS). In a survey of 581 business leaders across the UK, the ICAS found that around half (49%)...
Jun 26, 2023 | Business TaxGovernment AnnouncementsPersonal Tax
The UK tax gap hit £36 billion in 2021/22 out of a total expected tax take of £739bn, according to the latest HMRC figures. The tax gap is the difference between what HMRC expected in tax receipts and what it actually received, with the £36bn ‘missing' payments...
Jun 19, 2023 | Business TaxPersonal TaxVAT
The UK tax system is "overcomplicated" and an "obstacle to growth", according to members of the Treasury committee. In a report published on Friday (16 June), the committee called for a simplification of the tax system, claiming the Government's decision to close the...
Jun 6, 2023 | Business TaxGovernment Announcements
The Government is now running an open consultation into employee share schemes, intending to simplify the set-up process for businesses. The Treasury is running an open consultation into the save as you earn (SAYE) scheme and the share incentive plan (SIP), seeking to...
Jun 2, 2023 | Business RegulationBusiness Tax
A Government consultation on changes to cash basis accounting has been called ‘limited' by the Association of Taxation Technicians (ATT). For any reforms to be effective, the ATT believes there should be an overhaul of permitted interest deductions and loss claims for...
