Chancellor announces Spring Budget date
Chancellor Jeremy Hunt has announced that the Spring Budget will be delivered on 15 March 2023. Mr Hunt stated that he has commissioned the Office for Budget Responsibility (OBR) to…
Tax
Government extends mortgage guarantee scheme
The Mortgage Guarantee Scheme will be extended by a year to the end of December 2023, helping people with 5% deposits on to the property ladder, the UK government has…
Tax non-compliance during pandemic cost UK £9 billion
Tax non-compliance during the pandemic cost the UK government £9 billion, according to a report from the National Audit Office (NAO). HMRC redeployed around 1,350 workers to Covid-19 support schemes throughout 2020/21,…
MTD for ITSA delayed for two more years
The Treasury has announced that Making Tax Digital for income tax self assessment (MTD for ITSA) will be delayed for two more years until April 2026. MTD for ITSA was…
Tax burden rises following Autumn Statement
Tax burden rises following Autumn Statement The UK’s tax burden will rise after Chancellor Jeremy Hunt reduced the threshold on the top rate of tax and announced freezes on other…
BI praises Chancellor for ‘delivering stability’ in Autumn Statement
The Confederation of British Industry (CBI) praised Chancellor Jeremy Hunt for ‘delivering stability and protecting the most vulnerable‘ in the Autumn Statement. The business group welcomed the freeze in business rates…
IFS warns of fall in household incomes
The Institute for Fiscal Studies (IFS) has warned that household incomes will see their biggest drop in generations following the Autumn Statement. The think tank warned that growth in living…
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…
Self assessment clock ticks down to under 100 days
Self assessment clock ticks down to under 100 days HMRC has reminded taxpayers that they are now less than 100 days until the deadline for self assessment online return submission. Self…
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