HMRC’s services having a negative impact on SME productivity
The productivity and efficiency of SMEs is suffering as a result of poor HMRC services, according to members of the Association of Chartered Certified Accountants (ACCA). In a survey of…
Tax
New HMRC R&D tax relief guidance ‘could be clearer’, says ICAEW
New guidance from HMRC on Research and Development (R&D) tax relief ‘could be clearer’, according to the Institute of Chartered Accountants in England and Wales (ICAEW). HMRC’s draft guidance covers the…
Relief at HMRC’s reversal of helpline closures
HMRC’s decision to halt its plans to restrict taxpayer helplines and direct people to online services instead has been met with relief by the Federation of Small Businesses (FSB). The…
Jeremy Hunt cuts NICs again in the Spring Budget
The Chancellor made further changes to National Insurance contributions (NICs) following the cuts made in the Autumn Statement 2023. The rates for NICs will be cut by two percentage points…
HMRC publishes guidance on MTD for ITSA for sole traders and landlords
HMRC has published guidance on the Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) requirements for sole traders and landlords. MTD for ITSA will require businesses and…
Over one million miss self assessment deadline
Over one million self assessment taxpayers missed the filing deadline at midnight on 31 January, according to data published by HMRC. A record 11.5 million taxpayers did file their 2022/23 self…
HMRC warns self assessment taxpayers as scam referrals rise
HMRC is warning people to be wary of bogus tax refund offers following the self assessment deadline on 31 January. The tax authority says that fraudsters could set their sights…
Double-cab pickups go back to being vans as guidance reversed
Just a week after HMRC released new guidance that classed double-cab pickups as cars rather than vans, the government reversed the decision. On 19 February, HMRC confirmed that it’s reversing…
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 March 2024. The guidance states: ‘you can use the previous rates for up to one month from…
Budget 2024 Guide
The Spring Budget was delivered by the Chancellor Jeremy Hunt on Wednesday 6 March. In what was widely expected to be Mr Hunt’s final Budget ahead of an election, speculation…
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