New Advanced Corporate Tax Roadmap
The UK government’s new Corporate Tax Roadmap is designed to provide clarity, stability, and support for businesses of all sizes through well-defined policies aimed at boosting investment and simplifying tax compliance. With a strong focus on sustaining the economic health of small and medium enterprises (SMEs), this roadmap reflects the government’s commitment to making the […]
Making Tax Digital for Income Tax: The Important things to Know
The UK government’s Making Tax Digital for Income Tax (MTD IT) initiative, also known as MTD for Income Tax Self Assessment (MTD ITSA), is set to change how millions of small business owners and landlords report their earnings. Recently confirmed in the 2024 Autumn Budget, Making Tax Digital IT will be implemented gradually, eventually covering […]
NEW HMRC Charges
Changes in HMRC Interest Rates for Late Payments Following Bank of England Rate Cut Following the recent monetary decision by the Bank of England to reduce its base rate from 5% to 4.75%, HM Revenue and Customs (HMRC) has announced corresponding adjustments to its interest rates on late payments and repayments. As part of its […]
The problem of Tax Evasion
A recent article from Financial Times has highlighted that small businesses have become the leading contributors to tax evasion in the UK, a growing challenge for Her Majesty’s Revenue and Customs (HMRC). However, despite recognizing this trend, the tax authority has yet to articulate a robust and targeted strategy to address the issue effectively. Tax […]