Taxman grants reprieve for 5.7m Brits by waiving late tax return fine January 6, 2022 The taxman today granted a reprieve for self-employed Brits by waiving penalties for late filed tax returns. Anyone who fails to file their self-assessment tax return by January 31 will not be slapped with a fine by HMRC. However, Brits filing their tax returns after February 28, the new deadline, will be hit with a [...]
British celebrities vs HMRC IR35: What is going on? July 4, 2024 Yet another famous name has been in the headlines this past few weeks over issues with the tax authority over IR35. So what exactly is happening to British presenters and why is HMRC after them?
Business confidence drops after tax hikes, says FSB report October 25, 2021 Forthcoming hikes to national insurance have dented business confidence ahead of the Budget, according to the latest quarterly report from the Federation of Small Businesses (FSB). The group’s small business index (SBI) has decreased from 18.6 points in Q2 2021 to 16.4 in Q3 2021. FSB surveyed 1,383 small businesses in late September and the [...]
Weekend read: Britain’s buy-to-let landlords claim £18.5bn in tax reliefs despite mortgage interest changes April 10, 2022 The amount UK buy-to-let landlords claimed in tax reliefs increased to £18.5bn in the last year, up from £18.1bn the year before, according to new research shared exclusively with City A.M. this morning. The amount claimed increased despite a reduction in the amount of relief that landlords can claim on the interest that they pay [...]
Budget Day: All eyes are on Rishi Sunak’s tax and spending plans October 27, 2021 With all the briefings that have been taking place since the weekend there would appear to be little in the way of surprises when the Chancellor of the Exchequer gets up to speak later today. Most of the content appears to have already been pre-briefed much to the displeasure of the Speaker of the House [...]
U.S. withdraws digital tax tariff threat for European countries October 22, 2021 The United States has withdrawn its tariff threat against five European countries over their digital services taxes. As part of a deal, Austria, Britain, France, Italy, Spain get to keep their digital taxes in place until a global tax agreement comes into force in 2023. The countries had agreed to withdraw their digital services taxes [...]
Labour vows to scrap business rates if elected in tax shakeup September 26, 2021 Major UK business groups have thrown their weight behind new Labour plans to cut and then entirely scrap business rates in what is being billed as “the biggest overhaul of business taxation in a generation”. Shadow chancellor Rachel Reeves will tell the Labour party conference in Brighton tomorrow that a Labour government would replace business [...]
Grainger resilient against pandemic side effects as pre-tax profits soar November 18, 2021 The UK’s largest listed residential landlord Grainger has reported a higher pre-tax profit after revenue was driven by roaring housing demand. In results for the year ended 30 September, the property firm declared profit before tax up 53 per cent. What’s more, adjusted earnings rose two per cent while like-for-like rental growth saw a one [...]
Autumn Statement: 110 measures for growth and an election speech from Hunt November 22, 2023 Only seven weeks ago, Jeremy Hunt swore now was not the time for tax cuts. Now he is army Rishi Sunak with a manifesto of economic promises, writes Sascha O'Sullivan
Sunak’s tax policy is trying to straddle two worlds and failing on both fronts December 9, 2021 Chancellor Rishi Sunak seems to be in the midst of an identity crisis. After taking drastic measures to put the public finances on a sustainable footing in the wake of the pandemic, by raising the tax burden, he now wants to present himself as a tax cutting Tory. The problem is, he can’t be both. [...]