Digital Services Tax has raised £358 million
The UK’s Digital Services Tax (DST) raised £358 million from large digital businesses in the 2020/21 tax year, according to data published by the National Audit Office (NAO). The DST was…
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 September 2022. The guidance states: ‘you can use the previous rates for up to one month from…
HMRC raises late payment interest from 11 October
HMRC will raise interest rates on tax debt from 11 October following the 0.5% increase in the base rate. This means that the late payment interest rate will increase to 4.75% from…
Government abandons plan to scrap 45p top rate of income tax
The government has abandoned its plan to abolish the 45% top rate of income tax due to the negative reaction it has received. Chancellor Kwasi Kwarteng first announced the policy…
Fiscal Statement
In what was dubbed by many a ‘mini Budget’ Kwasi Kwarteng unveiled an unexpectedly wide range of measures with some surprises. Following on from the Prime Minister’s initial Energy Price…
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 September 2022. The guidance states: ‘you can use the previous rates for up to one month…
Treasury Committee warns government against ‘flying blind’ with Emergency Budget
The Treasury Committee has urged the government to provide assurance that it is not ‘flying blind’ into a potential Emergency Budget this September. In a letter sent to Chancellor Nadhim…
HMRC releases more details MTD for Income Tax
HMRC has published more details on how Making Tax Digital for Income Tax (MTD for IT) will work for buy-to-let landlords and sole traders with qualifying income over £10,000. The…
New homeowners warned over tax refund claims
New homeowners are being warned about cold calls from rogue tax repayment agents advising them to make speculative Stamp Duty Land Tax (SDLT) refund claims, which could leave them with…
MTD for income tax pilot extended
HMRC is extending the pilot for Making Tax Digital for Income Tax Self Assessment (MTD ITSA) to more self-employed workers and landlords. From July, those taking part will be able to…
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