Tax

Victoria Ivinson, head of agriculture at Douglas Home & Co, has called for clearer carbon taxation legislation, citing HMRC's lack of guidance as a potential obstacle to Scotland's net-zero goals. The Scottish accountancy firm, which operates from several locations including Kelso, Edinburgh, an

Consulting firm Visiativ UK, which emerged from the April merger of Edinburgh-based R&D tax relief adviser ABGI-UK and Innova Systems, is gearing up to host a complimentary webinar this month to guide businesses through upcoming changes to the R&D tax credit scheme. Since its introduction in

Airbnb, the popular online holiday let platform, has come under scrutiny from HM Revenue & Customs (HMRC) in an extensive tax investigation dating back to the 2017-18 financial year.

The Scottish Government has published the Visitor Levy (Scotland) Bill, potentially enabling councils to introduce a tourist tax on overnight stays.

The UK government is considering an update to the Direct Recovery of Debts (DRD) legislation that would enable HM Revenue & Customs (HMRC) to seize cryptoassets from businesses evading tax.

Recent statistics have revealed that out of over 460 businesses across Scotland that hold, or are within the process of applying for a patent, only 70 have utilised the relief, according to business advisory firm Haines Watts. The firm has launched a new specialist arm of their tax incentives and re

The Chartered Institute of Taxation (CIOT) has warned that high earners in Scotland will face an effective 68% tax rate if First Minister Humza Yousaf proceeds with a new charge under consideration. The higher rate is a combination of:

A 71-year-old fish firm boss, Raymond Esslemont, who dodged £295,599.97 in taxes, has been deemed as too unwell for jail and may serve his punishment by completing woodwork projects from home.

“Baffling” VAT food and drink rules which see milkshake powders taxed differently according to their flavour should be reformed, says the Association of Taxation Technicians, as the tax celebrates its 50th anniversary on Saturday. Chocolate flavoured powders attract zero VAT while strawb

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