Mar 3, 2023 | Government Announcements
The Government's decision to abolish the Office for Tax Simplification (OTS) "contained no reason", its director Bill Dodwell has told the Treasury. Former Chancellor Kwasi Kwarteng announced the closure as part of his 2022 Growth Plan, which Dodwell said Kwarteng had...
Mar 1, 2023 | Government Announcements
HMRC's latest advisory fuel rates (AFR) for company car users will apply from today (1 March 2023). The AFR for all petrol and diesel engine sizes have decreased by between 1p and 3p per mile compared to the rates introduced in December 2022. The rates for LPG...
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 17, 2023 | Government Announcements
HMRC is reminding customers who own short-term letting properties to report and pay tax on their earnings in an effort to stamp out tax evasion. This includes short-term landlords who use sites such as Airbnb and Booking.com to let out their properties. According to...
Feb 9, 2023 | Government AnnouncementsPersonal Tax
HMRC has temporarily paused the Making Tax Digital for income tax self-assessment (MTD for ITSA) pilot for newcomers. In a statement to AccountingWeb, an HMRC official said the decision would allow the tax authority to refresh its testing strategy. They also plan to...
