Jul 1, 2022 | Business Tax
Members of the Institute of Directors (IoD) are hoping for the current super deduction to be made permanent, according to a recent poll by the group. The super deduction was introduced in Budget 2021 for two years, to increase levels of business investment to help the...
Jun 30, 2022 | Business Tax
The Association of Taxation Technicians (ATT) is concerned that proposed reforms to capital allowances will negatively impact small businesses. In Spring Statement 2022, new reforms were proposed to the capital allowance regime. In May, the Treasury released a...
Jun 29, 2022 | Business TaxPersonal Tax
Statistics published by HMRC show the estimated tax gap for the year 2020/21 is 5.1%, unchanged from the previous year and the second-lowest recorded. The annual report estimates any discrepancy between the total amount of tax owed and the total paid by the public...
Jun 24, 2022 | Business Tax
A study carried out for HMRC has shown smaller businesses believe Making Tax Digital doesn't apply to them. While businesses were aware of MTD for VAT by name, many still don't understand the process of the scheme and whether their business needs to comply. As part of...
Jun 16, 2022 | Business Tax
HMRC will be opening up the Making Tax Digital for income tax self assessment (MTD for ITSA) pilot to more taxpayers from 1 July 2022. The pilot is a test for the official rollout in April 2024, and invites self-employed individuals and landlords to register. Some...
