In an unexpected power grab, HMRC is working on plans to access more information about individual taxpayers, particularly the self employed and employees, from working hours to job titles, to tackle tax evasion The main focus will be on accessing more data about the self employed,...
Read MoreHMRC has confirmed plans to modernise its direct debit payment system for employer PAYE so a recurring direct debit can be set up for the first time Currently employers can only set up a direct debit to collect a single payment, but not a recurring direct...
Read MoreThe government has ruled out making any changes to the definitions of worker status for tax purposes, saying it could increase costs for business It has taken four years for the government to respond to the 2018 consultation on worker status which sought views on the...
Read MoreLast night, Liz Truss and Rishi Sunak faced each other during a heated hour-long televised debate from Stoke-on-Trent where tax and economic policy dominated Pledged policies, primarily surrounding tax and spending, became the key takeaways in the hard-fought contest. The former chancellor and foreign secretary exchanged views...
Read MoreOne of the biggest problems for self employed taxpayers relates to confusion over allowable business expenses when completing self assessment returns Many self-employed people experience difficulties completing self assessment returns due to ‘confusing terminology, ambiguity around allowable business expenses and uncertainty transferring figures from personal spreadsheets...
Read MoreSelf catering businesses have criticised Welsh government plans to change the tax rules over the number of days of occupancy making it harder to qualify for business rates The Welsh government has proposed stricter rules on accommodation qualifying for business rates rather than council tax which...
Read MoreThe number of IPO transactions in the first half of 2022 on the UK main market and AIM saw a collective 45% decrease in deal numbers and a 94% drop in proceeds compared to H1 2021 The London Stock Exchange has reported a slow first half...
Read MoreThe number of company dissolutions increased by a third in 2021-22, representing the highest number of dissolutions on record, according to Companies House In 2021 to 2022, there were 581,824 dissolutions in the UK, an increase of 32.9% when compared with 2020 to 2021. As part of...
Read MoreMore than half of investors in cryptocurrency have limited or no understanding of capital gains tax and associated tax liability on crypto transactions Understanding of capital gains tax (CGT) was mixed with 34% of owners stating they had a good understanding, but 37% knew little or...
Read MoreHMRC has updated the guidance on changes to the National Insurance threshold due to come into effect from July At the Spring Statement in March, the Chancellor increased National Insurance thresholds for the 2022-23 tax year. This means employees and self-employed people will pay National Insurance...
Read More