Feb 27, 2025 | Business TaxPersonal Tax
HMRC is set to inform taxpayers affected by Making Tax Digital (MTD) for Income Tax, with letters starting in April. Initially, these will go to landlords, sole traders, and self-employed individuals earning over £50,000. From 6 April 2026, those earning above this...
Feb 14, 2025 | Business TaxPersonal Tax
The Public Accounts Committee (PAC) has urged HMRC, Companies House, and the Insolvency Service to work more closely to combat tax evasion and corporate fraud. MPs criticised the slow progress in joint efforts, highlighting missed opportunities to recover lost tax...
Jan 14, 2025 | Business Tax
Extra funding for HMRC investigations recovered £45.7 billion in taxes for the year to September 2024, a £10bn increase from the previous year. However, with £10.1bn in VAT still underpaid by March 2024, much of it from large businesses, the tax gap continues to grow....
Jan 13, 2025 | Business Tax
The Scottish Whisky Association (SWA) has revealed that since the 10.1% increase in excise duty on Scotch whisky and spirits in August 2023, the Treasury has been losing an estimated £500,000 a day. This equates to £350 every minute in potential revenue HMRC could...
Jan 8, 2025 | Business Tax
Employers are set to pay significantly more for minimum wage staff from April, as rises in National Insurance Contributions (NICs) and the minimum wage take effect. According to an analysis by the Centre for Policy Studies (CPS), the cost of employing a full-time...
