Tax

A Scotland-only business rates surcharge is set to cost firms a cumulative £180 million over the next three years, the Scottish Retail Consortium (SRC) has warned.

The new Finance Bill published yesterday introduces three new taxes, taking the total number of taxes introduced this century to 24. Apart from two one-off levies, and the Health and Social Care Levy (which was repealed before it came into effect, and is not included in the total above), none of the

The Association of Taxation Technicians (ATT) has warned companies claiming R&D tax relief, and their advisers, that they will soon need to provide extra information in order to make a claim. In the latest Finance Bill, the government confirmed it is bringing forward a requirement to provide add

The UK government has announced that the maximum jail sentence for tax fraud will double from seven to 14 years for the most "egregious" forms of evasion. The Treasury announced the change in last week's spring budget and said it will consult on the introduction of a new criminal offence for pr

The Chartered Institute of Taxation (CIOT) has warned that imminent reduction of the annual exemption for capital gains tax will see hundreds of thousands of people become liable to pay tax they may not even be aware of, and urged the government to publicise the change.

An expert has warned that the additional tax burden from the impending corporation tax hike could lead to a significant reduction in investment and the risk of businesses closing. Scotland’s business community will be under pressure to find an extra £1.5 billion per year of corporation t

The Association of Taxation Technicians (ATT) has called for the UK government to protect businesses from the “strange arithmetic intricacies” resulting from the permanent increase of the Annual Investment Allowance to prevent them unwittingly going over their allowances this year.

The Chartered Institute of Taxation (CIOT) has urged the government to review “unfair” repayment interest rates, with taxpayers facing late payment bills from HMRC up to 17 times higher than what is returned to those who have overpaid. HMRC generally charges interest on late payment at t

HM Revenue and Customs (HMRC) has revealed that a record 11.7 million customers submitted their tax returns on time.

The Chartered Institute of Taxation (CIOT) and Association of Taxation Technicians (ATT) are reminding crypto asset investors to include their gains (and losses) in their 2021/22 tax returns as the 31 January deadline looms.

Couples in the middle of separating or divorcing could save themselves a major tax bill by delaying the division or sale of any shared assets by a few months, according to legal firm Gilson Gray. With less than six months until the tax year ends and ‘divorce day’ approaching in January,

Mark Pryce and Morag Watson of Azets outline the main tax targets for the upcoming Autumn statement expected this Thursday. The chancellor has made no secret of the fact that there are likely to be tax rises when he delivers the budget statement on Thursday, although he has also been quick to point

An HMRC investigation is underway into suspected fraudulent use of the research and development (R&D) tax relief scheme intended to promote investment into technology and innovation. So far, eight individuals have been arrested over their alleged misuse of government tax incentives. They al

Today, Kwasi Kwarteng, the chancellor of the Exchequer revealed his fiscal plans in his emergency 'Mini Budget' aimed at boosting the economy to reach his 2.5% growth target. Mr Kwarteng's announced tax cuts and reforms, "the biggest package in generations", were met with mixed reactions.

The new UK government has ordered the treasury to audit existing and new anti-obesity policies which were to be introduced next month. The sugar tax, officially known as the Soft Drinks Industry Levy (SDIL), was introduced in 2018 as a measure to deter people from consuming unhealthy drinks high in