Oct 23, 2024 | Business TaxPersonal Tax
HMRC receipts for September 2024 surpassed £64bn, an increase of nearly £4bn from August and over £3bn more than September 2023. Between April and September, total tax and National Insurance contributions (NICs) reached £406.3bn, £11.1bn higher than in 2023. Income...
Oct 18, 2024 | Business TaxPersonal Tax
HMRC has announced a significant update to Making Tax Digital (MTD) for Income Tax, confirming that more than one agent can now act for a single client. This change comes ahead of the phased MTD rollout, which starts in April 2026. Previously, only one agent could act...
Sep 30, 2024 | Business Tax
The 2022/23 tax year saw £7.5bn worth of research and development (R&D) tax credit claims, a rise of just £1bn despite a notable drop in businesses claiming the relief. R&D claims fell to 65,690, with SME claims down by 23% compared to the previous year....
Sep 16, 2024 | Business Tax
Nearly half of small and medium-sized businesses (SMEs) are struggling to secure financial support, with over two-thirds believing business taxes are too high. According to a recent survey by Sumer Group, four in ten SME owners are concerned their businesses may close...
Aug 29, 2024 | Business Tax
Wealth managers and tax experts say fears of a capital gains tax hike in the upcoming October Budget have triggered a surge in asset sales among business owners, property investors, and shareholders. This “frenzy” of activity comes as concerns mount that...
