Loose Women’s Kaye Adams has won her decade-long battle with HMRC over a disputed £124,000 tax bill, with the tax authority deciding not to appeal. Read more on her fight for self-employment rights.
Category: Finance
Financial advice for owners and managers of small and medium sized business SMEs in the UK All your tax, borrowing and administration advice
Capital Gains Tax concerns loom over UK tech sector ahead of Autumn Budget
The UK tech sector faces growing concern over potential Capital Gains Tax rises in the upcoming Autumn Budget, with fintech leaders warning of an exodus.
Investors rush to withdraw pension funds amid fears of tax hikes in upcoming budget
Investors are pulling money from pension pots ahead of potential tax changes in Rachel Reeves’s October budget, sparking concerns about pension tax relief cuts.
HMRC imposes £13.7 million in penalties following National Minimum Wage enforcement action
HMRC identifies £13.7 million in National Minimum Wage arrears and issues penalties to employers, urging businesses to ensure compliance amidst rising enforcement activity.
Surge in voluntary liquidations sparks abuse of process concerns
A rise in voluntary liquidations is prompting concerns over potential misuse, with experts calling for stricter regulation and reintroduction of percentage fees to ensure proper scrutiny of debts.
HMRC crackdown causes 21% drop in R&D tax credit claims, stifling innovation
HMRC has reported a significant 21% drop in research and development (R&D) tax credit claims for the 2022/23 tax year, with the number of claims falling to 65,690 from 83,240 in the previous year.
Labour’s expat exit tax could drive foreign investment away from the UK, experts warn
Labour’s proposed expat exit tax has come under fire from leading audit, tax, and business advisory firm Blick Rothenberg, which warns that the policy could drive Foreign Direct Investment (FDI) away from the UK to more tax-friendly countries like France.
A Disaster for Innovation – The Research and Development Relief Perfect Storm
UK R&D tax relief enables companies undertaking innovative activities and qualifying R&D projects to claim corporation tax relief and/or tax credits on qualifying R&D expenditure.
Apple loses €13 billion tax battle in landmark EU court ruling
Apple has suffered a major setback in its long-running tax dispute with the European Union, as the European Court of Justice ruled that Ireland had granted the tech giant “unlawful state aid.”
Hundreds of families caught by seven-year inheritance tax rule as gifts trigger unexpected bills
Increasing numbers of families are facing inheritance tax on gifts given within seven years of a death, as soaring asset prices push more estates over the tax-free threshold.
HMRC recovers £70m in tax crackdown on footballers and agents
HMRC’s tax crackdown on footballers and agents recovers £70 million in 2023, targeting dual-representation contracts and misuse of image rights. High-profile players like John Barnes and Emile Heskey have faced legal action as part of the effort.
HS2 hit with final £6.2 million IR35 bill as IR35 reforms continue to draw criticism
HS2’s latest accounts disclose a £6.2 million IR35 bill, sparking criticism over the effectiveness and financial impact of Off-Payroll reforms in the public sector.
British Business Bank reports £122m loss amid market downturn
The British Business Bank reports a £122 million loss amid a market downturn. CEO Louis Taylor remains optimistic, highlighting long-term growth and new investment plans despite short-term declines.
HMRC reports £4.1 billion loss due to R&D tax fraud
HMRC reports a £4.1 billion loss due to R&D tax fraud since 2020. The issue fuels a financial clash between the current and previous UK governments.
Bank of England cuts interest rates to 5% in first reduction since 2020
The Bank of England has cut interest rates to 5% for the first time in over four years, offering relief to homeowners and families amid high living costs.
