Jun 21, 2023 | Government Announcements
The head of HMRC, Jim Harra, has told MPs that the tax authority "underestimated" the scale and complexity of Making Tax Digital (MTD). In a meeting on Monday, members of the Public Accounts Committee (PAC) asked HMRC representatives to explain continual delays to MTD...
Jun 20, 2023 | Government Announcements
Company insolvencies in England and Wales rose by 51% in the month to May 2023, according to the latest statistics from the Insolvency Service. In total, 2,552 companies were registered as insolvent last month compared to just 1,685 in April and 1,825 in May 2022....
Jun 16, 2023 | Government Announcements
UK charities gained more financial freedom this week as changes to the Charities Act 2022 came into effect on Wednesday (14 June). The updated legislation gives charities more flexibility when selling, leasing or disposing of land by simplifying some of the legal...
Jun 13, 2023 | Government Announcements
Making Tax Digital (MTD) is set to cost £1.3 billion in total - five times the original budget of £226 million, according to the National Audit Office (NAO). In a report, the NAO said that repeated delays to tax digitalisation have increased costs and undermined the...
Jun 12, 2023 | Government Announcements
The Government has announced plans to scrap the oil and gas windfall tax if prices drop for a sustained period. While the 75% energy profits levy was set to continue until March 2028, a new energy security investment mechanism could see an early end to the levy. Under...
