Cost of living crisis: UK inflation rises to 30-year high
The soaring cost of goods and services have pushed the UK inflation rate to its highest level in almost 30 years, a major study has revealed.
Claim up to £5,000 towards the cost of cloud accounting software under new Help to Grow: Digital scheme
Small businesses could get up to £5,000 to pay for cloud accounting software under the Help to Grow: Digital scheme, it has been announced.
Consultation on global minimum corporation tax for large multinationals
The Government has launched a consultation on how a worldwide 15 per cent minimum corporation tax can be implemented domestically, in a move designed to tackle avoidance and ensure a more level playing field for UK businesses.
Penalty reform for VAT delayed until January 2023
The penalty reform for late payments has been delayed until 1 January 2023, confirms a statement by Lucy Frazer (The Financial Secretary to the Treasury).
New rules to end second home tax loophole
Multiple homeowners who leave “holiday lets” empty will no longer be able to claim tax benefits, it has been announced.
Businesses that do not use MTD for VAT make more errors than those that do, study reveals
Small and medium-sized enterprises (SMEs) that do not use Making Tax Digital (MTD) for VAT make more errors than those that do, a major study has revealed.
HMRC’s guidance on reasonable excuses for late tax payments updated
It should perhaps be no surprise given the circumstances of the pandemic that individuals and businesses might have incurred penalties for late tax payments.
More investors are choosing sustainability-focused firms
Annual investment in companies with goals to tackle climate change has quadrupled since 2018.
Late filing penalties waived for one month to give taxpayers more time to prepare 2020/21 tax return
Late filing and late payment penalties will be waived for one month to give taxpayers more time to prepare their 2020 to 2021 Self Assessment tax return, it has been announced.
HMRC hikes late payment interest rates
The rate of interest charged on late payments by HM Revenue & Customs (HMRC) has increased, it has been announced.