Will increased capital gains tax (CGT) mean less tax gets paid?...
The Employment (Allocation of Tips) Act 2023 will officially come into force October 1, 2024. The law aims to ensure all tips, gratuities and service charges are fairly distributed to workers....
The date of the next Budget is fast approaching, accompanied by the new Chancellor’s warning about government finances....
It’s early days yet, but some pointers on tax have emerged from both the main parties...
The number of taxpayers caught in the 60% tax trap has increased by nearly 25% over the past year. More than 500,000 people are now affected by higher tax rates due to their income exceeding £100,000....
Companies without a digital invoice processing system in place are leaving themselves open to invoice fraud. Over the past year, nearly a third of businesses have been targeted....
For 2022/23, the tax gap has increased to a record £39.8 billion, with small incorporated and unincorporated businesses being blamed for around 60% of uncollected taxes....
With a majority of over 200 and a weight of expectations, what happens next to Sir Kier Starmer’s new Labour government?...
For employees, the national insurance tax cut announced in the Autumn Statement took effect last month, on the 6th January....
HMRC is warning iPhone owners about a new wave of scam text messages claiming to be about tax refunds....
Inflation in the UK has returned to the Bank of England's 2% target for the first time in nearly three years, as prices rose by 2% in the year to May, down from 2.3% in April....
It’s early days yet, but some pointers on tax have emerged from both the main parties...
HMRC has recently published guidance to provide greater clarity about the tax deductibility of training costs for the self-employed....
While the higher rate of capital gains tax (CGT) on residential property disposals has dropped by 4%, from 28% to 24%, from 6th April 2024...
The Flexible Working (Amendment) Regulations 2024 have come into effect, introducing significant changes....
The fees associated with incorporating and maintaining a company will rise from the 1st May 2024, due to an increase in charges from Companies House....
There’s no respite for HMRC with inheritance tax (IHT) accounts, undeclared dividend income and gains from share disposals to scrutinise....
The introduction of a £500 income exemption from 6th April 2024 will impact many trusts....
Chancellor Jeremy Hunt has presented the details of this year's Budget in the House of Commons, marking the final scheduled Budget before the upcoming general election expected later this year....
With tax bands and other thresholds frozen, taxpayers should be aware of the implications of their income increasing. Increased income can mean more than facing a higher tax bill....
Companies House is introducing wide-ranging reforms – subject to new legislation being in place – from 4th March 2024. ...
For employees, the national insurance tax cut announced in the Autumn Statement took effect last month, on the 6th January....
The 31st January 2024 deadline for submitting a 2022/23 self-assessment tax return is not far off, especially for those not yet registered....
The 31st January 2024 deadline for submitting a 2022/23 self-assessment tax return is not far off, especially for those not yet registered....
HMRC has acquired expanded powers that mandate digital platforms to share details of individuals engaged in services or selling goods....
Shona Robison, serving as Deputy First Minister and Finance Secretary, unveiled the government's spending plans for the upcoming year yesterday afternoon....
HMRC is moving ahead with its ‘digital by default’ ambition by pushing VAT registration to online only. Any business unable to use the online registration service will have to call HMRC’s VAT helpline to obtain a paper registration form....
Chancellor Jeremy Hunt has presented the details of his Autumn Statement in the House of Commons....
HMRC has updated its guidance to clarify that there is no taxable benefit when an employer reimburses employees who charge their electric company cars at home....
In July, the government was reported as holding talks on abolishing inheritance tax (IHT). This wasn’t given much credence at the time, but there are now reports that the March 2024 Budget will include a reduction to the 40% IHT rate as a prelude to future abolishment....
The 50th anniversary of the UK’s introduction of VAT was earlier this year, but despite being around for a while, many VAT-registered businesses still find VAT too complex and confusing....
With HMRC under pressure to collect more tax owed, it is moving away from the tolerance shown during the pandemic and back towards a normal level of debt enforcement activity. ...
The level of fraudulent claims being made for research and development (R&D) tax relief has prompted HMRC to introduce a new procedure...
HMRC is chasing taxpayers who have submitted tax returns for 2021/22 containing unresolved provisional figures, while also extolling the benefits of filing early for 2022/23....
New income tax statistics from HMRC appear to be good news, but the numbers are not what they seem.
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Draft legislation has been published that will, from 6 April 2024, restrict the geographical scope of agricultural relief and woodlands relief to property in the UK....
One of the many criticisms aimed at the High Income Child Benefit Charge (HICBC) is that anyone caught by the charge needs to submit a self-assessment ...
Clarkston-based Clark Andrews, a progressive and well-established chartered accountancy firm founded in 2005 by Robert Andrews and ...