Tax

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

The Scottish Retail Consortium has welcomed the backing of Scottish Ministers over the reintroduction of tax-free shopping for international visitors.

A new analysis by the Scottish Retail Consortium (SRC) has found a Scotland-only business rate surtax being considered by Scottish Ministers would leave larger grocery stores here facing by far the highest business rate bills in the UK. It follows the announcement on Thursday when Northern Ireland b

Businesses have judged the UK tax regime negatively for its impact on four key economic issues – business growth, innovation, sustainability, recruitment and retention – according to the latest Azets Barometer. The UK scored an average of below 5 (on an optimism scale ranging from zero t

Following HMRC’s announcement that it will not appeal against Loose Women presenter Kaye Adams’ court win over IR35 rules, Wylie & Bisset, Accountants and Business Advisers, has noted that the case illustrates the uncertainty surrounding agreeing an IR35 determination with HMRC. TV p

HMRC has garnered £1 billion in additional revenue through investigations into underpaid landfill tax over the past five years, with a £281 million collected in the last year alone, according to law firm Pinsent Masons. Landfill tax is imposed on waste disposed of in landfill and is desi

Sixteen business representative groups have jointly written to the Scottish Government’s Deputy First Minister & Finance Secretary, Shona Robison MSP, to voice alarm at the Scottish Government’s consideration of a new business rate surtax and what it means for wider tax policy towar

More than 1.1 million UK taxpayers have failed to meet the January 31 self-assessment filing deadline, resulting in a 10% increase from the previous year, as reported by HM Revenue & Customs (HMRC).

Judges have ruled that Walkers must pay VAT on its mini poppadoms because they are really just crisps. The snack giant had argued that that its Sensations Poppadoms were not crisps and should not attract sales tax.