Feb 23, 2023 | Business TaxGovernment Announcements
The Federation of Small Businesses (FSB) has criticised plans to reduce research and development (R&D) tax support for SMEs in April. According to a survey by the FSB, 64% of smaller firms (equivalent to 50,000 businesses) who received the tax relief will be less...
Feb 21, 2023 | Business Tax
The Association for Accounting Technicians (ATT) has urged the Government to review draft legislation permanently increasing the annual investment allowance (AIA). AIA allows businesses to deduct the full value of qualifying items from their profits before paying tax....
Feb 10, 2023 | Business TaxPersonal Tax
The Institute of Chartered Accountants in England and Wales (ICAEW) is calling for an emergency taskforce to tackle HMRC's underperformance. In a statement, the ICAEW said that ministers must act immediately to address long-standing delays at HMRC, which have become a...
Jan 25, 2023 | Business TaxPersonal Tax
HMRC data shows that tax receipts totalled £553 billion in the period from April to December 2022, reflecting across-the-board tax rises. This is a 9.5% increase on the same period a year before when tax receipts stood at £505bn. The main contributors to the increase...
Dec 22, 2022 | Business TaxPersonal Tax
Total tax take fell from £63.8bn in October to £58.5bn in November, according to figures from HMRC. Income tax rose slightly in this period from £16.5bn to £16.9bn - £1.7bn higher compared to November 2021. This figure is likely to rise in the coming years while...
