| 01-03-2023
The Association of Taxation Technicians (ATT) welcomes a report by the House of Lords expressing concern over proposed reforms to the R&D scheme. The report, published on 31 January, highlights the need to pause any upcoming changes to the SME and R&D expenditure credit (RDEC) schemes. Some of the changes
| 01-03-2023
Speaking at Bloomberg's European HQ in London on 27 January, Chancellor Jeremy Hunt outlined plans to grow the UK economy and turn the country into "one of the most prosperous countries in Europe".
| 01-03-2023
Despite a record 11.7 million people submitting their tax returns on time, over 300,000 taxpayers missed the self-assessment deadline. On 31 January, 861,085 taxpayers filed online to meet the deadline, some with minutes to spare ā 36,767 individuals filed in the last hour before the deadline. The peak filing hour
| 01-03-2023
The Bank of England (BoE) has raised its interest rate by 0.5% to 4% following a monetary policy committee (MPC) meeting on 2 February. This is the tenth consecutive time the Bank has increased interest rates, resulting in the highest base rate in 14 years.
| 01-03-2023
Next phase of digital tax scheme to start in 2026. Making Tax Digital for income tax self-assessment (MTD for ITSA) was originally set to roll out in 2018, but the road to personal tax digitalisation has been relatively rocky to date.
| 21-02-2023
Small and local charities, working with people facing complex issues and barriers, can apply for grant funding from Lloyds Bank Foundation for England and Wales. Specialist charities with an annual income between Ā£25,000 and Ā£500,000 can apply for a three-year, unrestricted grant of up to Ā£75,000.
| 21-02-2023
Training programmes to attract new recruits and improve the quality of training in the fishing, seafood, and aquaculture sectors have been awarded funding from theĀ Ā£100million UK Seafood Fund.
| 21-02-2023
If you are planning to claim the UK state pension you should check your national insurance (NI) record before 5 April 2023. At present, voluntary contributions can be made to plug gaps back to April 2006, but this will be curtailed from April.
| 13-02-2023
A new trial system aims to identify taxpayers seeking help with specific queries which HMRC considers can be resolved online. Such callers will be sent a text message containing relevant links.
| 13-02-2023
Employers should be aware that all minimum wage rates increase on 1 April of each year. This includes all National Minimum Wage rates and the National Living Wage rate.
| 13-02-2023
The government is taking action against unscrupulous employers that use the controversial practice of āfire and rehireā, it has announced. Last year P&O Ferries sought to evade the law by sacking 786 seafarers without due consultation. Having made no efforts to inform the Business Secretary at the time, they failed
| 06-02-2023
HMRC is inviting people to comment on draft guidance relating to the upcoming R&D tax credit relief reforms. The reforms, expected to be implemented from 1 April 2023, will change how R&D works in practice and set out additional information requirements when applying for the relief.
| 06-02-2023
How the April tax rise affects SMEs. After multiple policy U-turns and much uncertainty, the main rate of corporation tax will rise from 19% to 25% from 1 April 2023, affecting companies with profits of Ā£250,000 and over.