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...
May 26, 2023 | Government AnnouncementsPersonal Tax
HMRC has revealed that the self-assessment threshold for PAYE taxpayers will increase from £100,000 to £150,000 for the 2023/24 tax year. Currently, individuals taxed through PAYE only are legally required to file a self-assessment tax return if they make more than...
May 22, 2023 | Government Announcements
HMRC has launched a consultation into simplifying and strengthening the construction industry scheme (CIS). Stakeholders told HMRC that the scheme is causing "unnecessary" administrative burdens in two key areas: payments by landlords to tenants and multiple reporting...
May 18, 2023 | Government Announcements
HMRC is planning to close the VAT registration helpline on 22 May to help shorten application processing times. According to HMRC, 85% of phone calls to the service are from customers checking the progress of their VAT registration. The tax authority believes that...
May 16, 2023 | Government Announcements
Total retail sales grew steadily by 5.1% in April, according to a new report from the British Retail Consortium (BRC). The rise matches the average growth rate in the three months to April and is a significant improvement on last year's total retail sales, which fell...
