Government outlines new R&D tax relief PAYE cap

16 Nov 2020

New draft legislation has been released by the Government that will look to introduce a PAYE cap on R&D tax credit claims. The cap was first announced in the 2018 Budget to prevent abuse of the R&D tax credit SME (small to medium-sized enterprise) scheme. Under the original proposal, the amount of payable tax credit […]

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Temporary Annual Investment Allowance extended to January 2022

16 Nov 2020

The temporary £1 million increase to the Annual Investment Allowance (AIA) has now been extended until 1 January 2022 to help businesses invest, the Government has announced.    The increase to the AIA, which saw relief rise from £200,000 to £1 million for two years from 1 January 2019, was originally due to end in […]

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Official report recommends significant increases in Capital Gains Tax

16 Nov 2020

The Office for Tax Simplification (OTS) has released a new report that recommends ministers consider bringing rates of Capital Gains Tax (CGT) in line with Income Tax or consider addressing ‘boundary issues’ between CGT and Income Tax. The extensive report, intended to simplify and improve the CGT system, also recommends: Wide-ranging reductions in reliefs and […]

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ICAEW “questions” pension tax relief proposals

15 Oct 2020

The Institute of Chartered Accountants in England and Wales (ICAEW) has raised concerns over proposals to alter the level of tax relief on pensions contributions for low-earners, arguing that any changes could burden businesses.

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HMRC: Making Tax Digital to be extended to all VAT-registered businesses from 2022

06 Aug 2020

HM Revenue & Customs (HMRC) has confirmed that Making Tax Digital (MTD) will be extended to all VAT-registered businesses from April 2022.

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Government announces new stamp duty rates for non-residents from April 2021

29 Jul 2020

HM Revenue & Customs (HMRC) has announced new rates of Stamp Duty Land Tax (SDLT) for non-residents from 1 April 2021.

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Chancellor orders review into Capital Gains Tax system

15 Jul 2020

The Chancellor, Rishi Sunak, has commissioned a report into the UK’s Capital Gains Tax (CGT) system, it has been announced.

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Budget 2020

11 Mar 2020

Budget summary When Philip Hammond delivered the last Budget 499 days ago, in the midst of the Brexit negotiations, he could not have imagined that the next Budget would be dominated by the spread of a lethal contagion. Nor is it likely that he thought Rishi Sunak – then a relatively inconspicuous junior minister – [...] Read Full Story

HMRC suffers defeat in an IR35 case

17 Apr 2019

The presenter of television show Loose Women, Kaye Adams, has become the latest TV personality to win a case against HM Revenue & Customs (HMRC) over her employment status.

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Delay in issuing Self-Assessment penalty notifications

20 Mar 2019

While 93.68 per cent of the 11.5 million taxpayers who were required to file their Self-Assessment Tax Returns by midnight on 31 January did so on time, 731,186 missed the deadline. Those who missed the deadline will have to wait longer than in previous years to receive penalty notifications from HM Revenue & Customs (HMRC). […]

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