Use of two tax-advantaged employee share schemes has declined since 2016, prompting a review into whether their rules are sufficiently simple and clear, and contain enough flexibility to meet companies’ needs. A government-commissioned research report published in June found that […]
Although the coronavirus job retention scheme (CJRS) ended on 30 September 2021, a recent case involving a CJRS claim shows the scope of HMRC’s data gathering. It is a reminder to taxpayers that HMRC’s investigative methods continue to evolve. Claims […]
Hard on the heels of the Sunday Times Rich List, will new proposals for a wealth tax gain any traction? In 2020, a group of economic research bodies set up the Wealth Tax Commission to examine the options for a […]
The tax gap is the difference between the amount of tax that should, in theory, be paid to HMRC, and what is actually paid. For 2021/22, the gap was at an all-time low of 4.8% (or £35.8 billion), although in […]
Just over 200 businesses – including some of the country’s best-known retailers – have failed to pay the minimum wage and will have to repay workers and face penalties of up to £7 million. The minimum wage rules can be […]
HMRC is offering taxpayers named in the leaked Pandora Papers a chance to correct their tax affairs. The October 2021 leak involved almost 12 million documents revealing hidden wealth and tax avoidance. The papers revealed that many taxpayers had used […]
The normal time limit for a person to fill gaps in their national insurance (NI) record is six years, but transitional arrangements allow gaps to be filled back to 2006/07. The deadline for making such contributions was recently extended to […]
Does your company submit or intend to submit claims for R&D tax credits? HMRC has recently announced important updates regarding the procedure for filing an R&D tax credits claim. We have summarised the changes that you need to be aware […]
The combination of a frozen inheritance tax (IHT) nil rate band and considerably higher property values has pushed more estates into the IHT net.
Fulfilling a self-assessment tax return holds immense importance for various reasons, although PAYE taxpayers are generally exempt from this requirement.
From 1 July, the energy price cap set by energy regulator, Ofgem, will fall from £3,280 to £2,074.
With continuing high electricity prices, now could be a very good time to install solar panels at your property.
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