May 11, 2023 | Business Tax
The Institute for Chartered Accountants in England and Wales (ICAEW) has asked HMRC to "rethink" its quarterly reporting policy for Making Tax Digital for income tax self-assessment (MTD for ITSA). Under proposed MTD for ITSA rules, self-assessment customers must keep...
May 2, 2023 | Business RegulationBusiness TaxPersonal Tax
HMRC has launched a consultation that will run until June, focusing on the risks of double taxation in the IR35 system. Current legislation could change to offset tax payments by contractors who are accidentally charged as if they were sole traders. At the moment,...
Apr 6, 2023 | Business Tax
A new report from the Public Accounts Committee (PAC) shows that the "temporary" digital services tax (DST) could stay in place longer than planned. The DST raised £358 million in its first year - 30% more than expected. However, the Treasury says that it is a "second...
Mar 15, 2023 | Business TaxGovernment Announcements
In today's Spring Budget speech, Chancellor Jeremy Hunt announced a new "full expensing policy" to encourage business investment. From April 2023 to March 2026, companies can claim 100% capital allowances on qualifying plant and machinery, writing off the cost of...
Mar 7, 2023 | Business Tax
A number of tax breaks for startups risk withdrawal if the Government fails to act, warn MPs from the All-Party Parliamentary Group (APPG) on entrepreneurship. The seed enterprise investment scheme (SEIS), the enterprise investment scheme (EIS) and venture capital...
