Tax

May 16, 20221 min read

Almost 66,500 filed self-assessment returns on 6th April

Nearly 66,500 taxpayers filed their 2021/22 self assessment return on the first day of the new tax year, according to figures from HMRC....

2022 Spring Statement – the business reaction

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Mar 24, 20221 min read

2022 Spring Statement – the business reaction

Business groups have responded to Chancellor Rishi Sunak’s Spring Statement speech. Shevaun Haviland, Director General of the British...

82% of VAT registered businesses are still unaware of MTD deadline

Lynne Gowers

Mar 18, 20221 min read

82% of VAT registered businesses are still unaware of MTD deadline

Although there is less than a month until the roll out of the Making Tax Digital (MTD) for VAT extension, 82% of eligible businesses are...

Helen Smith

Mar 16, 20222 min read

Dividend Tax increase from April 2022

Dividend tax is due to increase in April 2022, something which you need to be aware of if you are the director of a limited company, due...

FSB calls for relief for small employers in Spring Statement

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Mar 4, 20221 min read

FSB calls for relief for small employers in Spring Statement

The Federation of Small Businesses (FSB) has urged Chancellor Rishi Sunak to use the upcoming Spring Statement to help small employers...

Almost 100,000 taxpayers using HMRC's Time to Pay

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Mar 1, 20221 min read

Almost 100,000 taxpayers using HMRC's Time to Pay

Almost 100,000 self assessment customers have used online payment plans to spread the cost of their tax bill into monthly instalments...

HMRC reminds married couples to utilise Marriage Allowance

Lynne Gowers

Feb 23, 20221 min read

HMRC reminds married couples to utilise Marriage Allowance

HMRC has reminded married couples and people in civil partnerships to sign up for the Marriage Allowance to help reduce their tax bill....

SDLT ‘needs to be reformed’, study suggests

Lynne Gowers

Feb 13, 20221 min read

SDLT ‘needs to be reformed’, study suggests

Research carried out by mortgage lender Butterfield Mortgages has suggested that stamp duty land tax (SDLT) is outdated and needs...

Consumer group urges taxpayers to avoid using refund firms to claim tax rebates

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Jan 24, 20221 min read

Consumer group urges taxpayers to avoid using refund firms to claim tax rebates

Consumer group Which? has urged taxpayers to avoid using so-called ‘refund firms’ to claim tax rebates. Which? stated that people are...

COVID-19 support grants must be included on company tax returns

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Jan 21, 20221 min read

COVID-19 support grants must be included on company tax returns

HMRC has warned that businesses must declare any coronavirus (COVID-19) support grants or payments on their company tax returns and...

Government responds to OTS on Capital Gains Tax

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Dec 8, 20211 min read

Government responds to OTS on Capital Gains Tax

As part of its Tax Administration and Maintenance (TAM) Day on 30th November, the government responded to a two-part review of capital...

HMRC’s tax take falls by billions due to pandemic

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Nov 12, 20211 min read

HMRC’s tax take falls by billions due to pandemic

HMRC saw a drop of almost £30 billion in tax revenues in the latest financial year because of the pandemic, according to its annual...

IFS predicts millions to be worse off next year due to tax rises

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Nov 5, 20211 min read

IFS predicts millions to be worse off next year due to tax rises

The Institute for Fiscal Studies (IFS) has predicted that millions of people will be worse off in 2022 as a result of spiralling costs...

Payment period on residential CGT is doubled

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Nov 2, 20211 min read

Payment period on residential CGT is doubled

The government has doubled the payment period for capital gains tax (CGT) on residential property from 30 days to 60 days. Although the...

Small firms losing £25 billion annually to tax admin

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Oct 28, 20211 min read

Small firms losing £25 billion annually to tax admin

A study carried out by the Federation of Small Businesses (FSB) has showed that small firms are losing £25 billion per year as compliance...

Lynne Gowers

Oct 27, 20212 min read

Budget 2021 - a quick-fire overview!

In his second Budget of the year, Chancellor Rishi Sunak leaned heavily on his prospect of a brighter economic outlook. Mr. Sunak...

IoD urges government to reduce planned level of business tax rises

Helen Smith

Sep 29, 20211 min read

IoD urges government to reduce planned level of business tax rises

The Institute of Directors (IoD) is urging the government to use the upcoming Budget to reduce the planned level of business tax rises....

Making Tax Digital for Income Tax self assessment delayed for a year

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Sep 22, 20211 min read

Making Tax Digital for Income Tax self assessment delayed for a year

The government has delayed the introduction of Making Tax Digital (MTD) for Income Tax self assessment (MTD for ITSA) for a year, HMRC...

OTS says changing date of tax year end would be beneficial

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Sep 18, 20211 min read

OTS says changing date of tax year end would be beneficial

Adopting a tax year which is either aligned with the calendar year or with a calendar month-end would have clear benefits, according to a...

Chancellor to deliver Autumn 2021 Budget on 27 October

Lynne Gowers

Sep 15, 20211 min read

Chancellor to deliver Autumn 2021 Budget on 27 October

HM Treasury has announced that Chancellor Rishi Sunak will deliver the Autumn 2021 Budget on Wednesday 27 October. On 7 September the...

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