Disclosure of untaxed offshore assets rose by 146% to 5,427 in 2022-23, according to Lubbock Fine.This is the number of taxpayers who used HMRC’s worldwide disclosure...
The UK tax gap for 2022-23 was estimated to be £39.8bn or 4.8% of theoretical tax liabilities which were £823.8bn, according to HMRC data.HMRC states that there has...
Pensions
HMRC has published its pension schemes services newsletter for June.
tinyurl.com/hmrcpsprnljune
Overseas pensions
HMRC has updated the list of schemes that meet the...
There has been a lot of tax policy change since 2010 and a lot of complexity added –new taxes and new differentiated rates, allowances and reliefs added to existing taxes....
Medium-sized businesses are more optimistic about the future than smaller firms, according to new research from Azets.The Azets Barometer survey, which features 353 responses from...
HMRC has written to small businesses it suspects of misusing their till systems to evade paying tax on sales, known as electronic sales suppression (ESS). A business with...
Over 40% of UK consumers say they would support actions to address climate change, even if they require tax increases, according to Deloitte’s new European Sustainable...
HMRC collected an extra £1.6bn in tax from transfer pricing enquiries in the year ending 31 March 2023 - an increase of 11% from £1.5bn in the previous...
Finance ActThe Finance (No 2) Act 2004 received royal assent on 24 May.tinyurl.com/fno2a2024raFirst-tier TribunalA practice direction has been published to outline the principles...
The Chartered Institute of Taxation (CIOT) and Low Incomes Tax Reform Group (LITRG) have published their response to the draft legislation: Penalties for Failure to Pay Tax...
The next government will need to make key decisions on pensions, says the Institute for Fiscal Studies (IFS).In a report, produced in partnership with abrdn Financial Fairness...
The next government should take more responsibility for HMRC’s actions to boost trust with the self-employed, says the Association of Independent Professionals and the...