Feb 14, 2025 | Business TaxPersonal Tax
The Public Accounts Committee (PAC) has urged HMRC, Companies House, and the Insolvency Service to work more closely to combat tax evasion and corporate fraud. MPs criticised the slow progress in joint efforts, highlighting missed opportunities to recover lost tax...
Jan 14, 2025 | Business Tax
Extra funding for HMRC investigations recovered £45.7 billion in taxes for the year to September 2024, a £10bn increase from the previous year. However, with £10.1bn in VAT still underpaid by March 2024, much of it from large businesses, the tax gap continues to grow....
Jan 13, 2025 | Business Tax
The Scottish Whisky Association (SWA) has revealed that since the 10.1% increase in excise duty on Scotch whisky and spirits in August 2023, the Treasury has been losing an estimated £500,000 a day. This equates to £350 every minute in potential revenue HMRC could...
Jan 8, 2025 | Business Tax
Employers are set to pay significantly more for minimum wage staff from April, as rises in National Insurance Contributions (NICs) and the minimum wage take effect. According to an analysis by the Centre for Policy Studies (CPS), the cost of employing a full-time...
Jan 7, 2025 | Business Tax
Employers will face higher costs from April as increases in the minimum wage and National Insurance (NI) take effect. Analysis by the Centre for Policy Studies (CPS) reveals that a full-time employee on minimum wage will cost businesses £2,583 more per year. In 2024,...
