Jun 19, 2023 | Business TaxPersonal TaxVAT
The UK tax system is "overcomplicated" and an "obstacle to growth", according to members of the Treasury committee. In a report published on Friday (16 June), the committee called for a simplification of the tax system, claiming the Government's decision to close the...
Jun 6, 2023 | Business TaxGovernment Announcements
The Government is now running an open consultation into employee share schemes, intending to simplify the set-up process for businesses. The Treasury is running an open consultation into the save as you earn (SAYE) scheme and the share incentive plan (SIP), seeking to...
Jun 2, 2023 | Business RegulationBusiness Tax
A Government consultation on changes to cash basis accounting has been called ‘limited' by the Association of Taxation Technicians (ATT). For any reforms to be effective, the ATT believes there should be an overhaul of permitted interest deductions and loss claims for...
Jun 1, 2023 | Business Tax
HMRC has published the latest advisory fuel rates (AFR) for company car users, which applies from today (1 June 2023). The AFR for diesel has been cut, while unleaded rates have stayed the same. There has also been a minimal increase in LPG rates compared to March...
May 11, 2023 | Business Tax
The Institute for Chartered Accountants in England and Wales (ICAEW) has asked HMRC to "rethink" its quarterly reporting policy for Making Tax Digital for income tax self-assessment (MTD for ITSA). Under proposed MTD for ITSA rules, self-assessment customers must keep...
