Tax

Tax expert Stuart Petrie discusses the heightened scrutiny and increased enforcement efforts by HM Revenue and Customs (HMRC), emphasising the importance of taking any enquiries seriously, the methods used for tax recovery, and the benefits of voluntary disclosures to mitigate penalties and liabilit

The Supreme Court has held that professional advisory fees totally around £2.5 million incurred by an investment firm in connection with the sale of a loss-making business could not be deducted as expenses of management under section 1219 of the Corporation Tax Act 2009. Centrica Overseas Hold

A recent survey by the Scottish Chambers of Commerce (SCC) has revealed growing concerns among Scottish businesses regarding taxation and recruitment, issues that could hinder Scotland's economic growth.

Scottish property taxes reached £628.1 million in the year to May 2024, a £8.5m increase on the previous year (£619.6m), according to DJ Alexander Ltd. The Scottish property firm said this growth in land and buildings transaction tax was largely driven by the additional dwelling su

A new report commissioned by Brazil has proposed a global tax on billionaires, potentially raising up to $250 billion (around £197bn) annually.

Pippa Samphier discusses the need for tax reform as the Scottish Government reconsiders its progressive taxation policy and Labour proposes significant tax increases. Ahead of next week’s general election, there is a level of uncertainty amongst Scottish businesses, especially when it comes to

Scotland's council tax collection rate fell slightly in 2023-24, reaching 95.5%, down from 96.2% the previous fiscal year, according to the latest figures released by Scotland's Chief Statistician.

Scotland’s £7.3 billion dealmaking sector could be forfeiting approximately £10 million in recoverable VAT every year for costs such as professional fees that are not being reclaimed, according to new research into the UK’s M&A sector by Azets. The accountancy firm estima

Tax expert Scott Webster delves into the new residence-based system which will replace the existing non-dom regime from next year. As part of the recent 2024 Spring Budget, significant changes were announced to the way in which non-UK domiciliaries (non-doms) are to be taxed from 6 April 2025.

The start of the 2024/25 tax year tomorrow will mean further income tax divergence for Scottish taxpayers, however UK-wide National Insurance changes will mean an increase in the take home pay of Scots earning up to £112,900 compared with the tax year about to end, the Chartered Institute of

A substantial number of Scottish businesses could potentially miss out on vital research and development (R&D) tax relief by failing to meet new requirements to pre-register their intention to make a claim, a tax expert has claimed. According to Gemma Monaghan, Azets partner and national head of

New powers enabling councils to charge up to double the full rate of council tax on second homes has come into force this week.

The financial landscape for Scottish businesses is about to be affected by a game-changing overhaul in R&D tax credits set to kick in on 1 April 2024. Last year’s Autumn budget gave the green light to a brand-new merged R&D tax relief scheme, a shake-up which marks a significant depart

Chancellor Jeremy Hunt unveiled a series of tax reforms in yesterday's Spring Budget, altering the UK's fiscal landscape. The most notable change sees National Insurance contributions for employees decreasing from 10% to 8%, resulting in average annual savings of around £450 for approximately

The UK government is set to enlist private debt collectors to pursue individuals and companies owing up to £4.3 billion in unpaid taxes, as part of a major crackdown spearheaded by HM Revenue and Customs (HMRC). Under Chancellor Jeremy Hunt's proposals, debt collection agencies will be contrac