UK set for biggest tax rise in at least 50 years
The UK is on course to see its biggest tax rise in at least 50 years as a result of the freeze on personal thresholds and soaring inflation, according to…
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Scams warning issued to 12 million self assessment taxpayers
Self assessment taxpayers must be on the lookout for scam texts, emails and phone calls from fraudsters, HMRC was warned. HMRC has received more than 130,000 reports about tax scams…
Chancellor must use Autumn Statement to cement commitment to small firms
The Chancellor should cement the government’s commitment to small businesses in his Autumn Statement, according to the Federation of Small Businesses (FSB). The FSB has called for a strong stand…
SMEs ‘struggling to access finance’
Small and medium-sized enterprises (SMEs) are struggling to access finance and working capital, according to a report published by the Association of Chartered Certified Accountants (ACCA). The ACCA’s data showed…
HMRC urges nearly 430,000 young people to claim Child Trust Fund cash
HMRC has urged almost 430,000 young people with an unclaimed Child Trust Fund (CTF) to claim their cash. CTFs are tax-free savings accounts that were created for every child born between…
HMRC should increase rewards for whistleblowers, says law firm
HMRC should increase the rewards it pays out to whistleblowers in line with the US system, according to law firm RPC. The tax authority paid out over £509,000 to individuals providing…
Another million savers to be hit with tax on interest
The frozen Savings Allowance combined with rising interest rates will push over one million taxpayers into paying tax on their savings this tax year, according to research by investment platform…
HMRC increases late payment interest rate to 7.5%
HMRC has increased interest rates with late payment bills charged 7.5% from 11 July, the highest rate since 2001. The move follows the Bank of England’s June increase in the base…
Almost a million Child Trust Funds still unclaimed
Almost a million young people have yet to access savings contained in Child Trust Funds (CTFs), according to a report by Parliament’s Public Accounts Committee (PAC). The PAC said over £1.7…
Tax down on pints but up on wines and spirits in Alcohol Duty overhaul
The largest overhaul of alcohol duty in 140 years sees drinks taxed by strength rather than category from 1 August. It also sees the introduction of Small Producer Relief, which aims to…
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