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September 25, 2023

Fraud countermeasure drives R&D tax relief changes


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The level of fraudulent claims being made for research and development (R&D) tax relief has prompted HMRC to introduce a new procedure.

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September 18, 2023

Interest rate rises fuelling increased tax take


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The Bank of England base rate increase is impacting on the government’s tax takes, with more taxpayers paying tax on savings income.

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September 11, 2023

Finalising returns figures and filing early


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HMRC is chasing taxpayers who have submitted tax returns for 2021/22 containing unresolved provisional figures.

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September 4, 2023

Intestacy entitlement increased


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If an English or Welsh domiciled person dies without leaving a will, the amount that a spouse/civil partner can inherit has increased.

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August 28, 2023

Abolishing the pensions lifetime allowance


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Although the lifetime allowance was effectively abolished from April 2023, it has been retained on statute for a year.

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August 21, 2023

Behind the numbers on income tax


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New income tax statistics from HMRC appear to be good news, but the numbers are not what they seem.

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July 10, 2023

More action to counter fraud


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The government has announced a new initiative to counter fraudulent activity, particularly in the financial sector.

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July 3, 2023

More estates paying IHT


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The average IHT bill is now nearly £62,000, with much larger amounts payable if an estate includes a property in London or the South East.

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June 26, 2023

Self-assessment threshold rises from 2023/24


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Previously, exemption was subject to a £100,000 income ceiling, but the threshold has been increased to £150,000 for the current tax year onwards.

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June 19, 2023

The Ofgem price cap returns


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From 1 July, the energy price cap set by energy regulator, Ofgem, will fall from £3,280 to £2,074, helping home-based employees and any small business owners who work out of residential accommodation.

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June 12, 2023

Government’s tax take on growth trajectory


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Analysis of the projected outcomes of the government’s tax policies show an expected increase to the number of higher rate personal taxpayers, with the corporate tax yield expected to grow substantially.

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June 5, 2023

Potential benefits from directors’ loans


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Business owners could seek to earn interest on directors’ loans with little-to-no tax implications, although only patient directors willing to meet the reporting requirements will benefit.

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