HMRC state that they have seen an increase in fraudulent claims for Research & Development (R&D) tax relief. They believe companies in certain sectors are being deliberately targeted by third […]
The Bank of England Monetary Policy Committee announced on 2 February 2023 that it would increase the Bank of England base rate to 4% from 3.5%. HMRC interest rates are linked […]
HMRC has revealed that more pensioners filed a tax return for the 2020 to 2021 tax year compared to young people. Overall, those aged 65 and over accounted for 16% of […]
HMRC is reminding taxpayers that they must declare COVID-19 payments in their tax return for the 2021 to 2022 tax year. These grants are taxable and should be declared […]
How HMRC assesses profits for sole traders and partnerships who use an accounting date between 6 April and 30 March will change from 6 April 2023. This change will not […]
Umbrella companies are commonly used by employment agencies to pay temporary workers. HMRC are aware that some umbrella companies purport to avoid tax and claim to be able to maximise […]
The Bank of England Monetary Policy Committee voted on 3 November 2022 to increase the Bank of England base rate to 3% from 2.25%. HMRC interest rates are linked to […]
The UK Government will end the special status of all retained EU law by 31 December 2023. Under the Brexit Freedoms Bill, all EU legislation will be either amended, repealed […]
