The Super Deduction Tax Break was brought into action in April 2021 to help kickstart the economy post-Covid and provide businesses with an incentive to make additional investments in machinery and tools.
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
Gary Lineker’s lawyers say HMRC tax inquiry ‘looking in the wrong place’
Gary Lineker’s lawyers have told a legal hearing that a tax inquiry into the footballer’s finances has been “looking in the wrong place”.
HMRC reminds businesses about new VAT penalties and interest ahead of filing deadline
HM Revenue and Customs (HMRC) is reminding VAT registered businesses to file their VAT returns and pay on time, ahead of new penalties being applied.
Inheritance Tax Receipts reach £5.9 billion in the months from April 2022 to January 2023
HMRC raked in £5.9 billion from inheritance figures from April to January 2023 according to figures released this morning.
Tax agency stopped from operating by HM Revenue and Customs
A company which charged taxpayers significant sums to make claims for tax refunds has been stopped from operating.
Inheritance Tax Receipts reach £5.3 billion in the months from April to December 2022
Figures released by HMRC today show that the Treasury raked in £5.3 billion in inheritance tax receipts in the months from April to December 2022. This is £700 million more than in the same period a year earlier, continuing the upward trend.
Stuart Barnes scores another IR35 win against HMRC
Former professional rugby player and now rugby commentator Stuart Barnes wins his won his IR35 case of £695k in tax against HMRC.
Investors convert ‘totally worthless’ NFTs into tax write-offs
Just a year ago, Washington DC’s Hirshhorn art museum – the capital’s preeminent contemporary art museum – was asking whether non-fungible tokens (NFTs) were “fad or the future of art”. Twelve months on, it looks like “tax write-off” might have been the right answer.
Covid gains fade for small investors
Retail investors have seen their gains since the onset of the pandemic all but wiped out in the midst of a torrid year on global markets.
Kwarteng considers extending mortgage guarantee scheme after banks raise concerns
The chancellor is considering extending the government’s mortgage guarantee scheme, after UK bank bosses raised concerns over the state of the UK’s mortgage market at a high-level meeting at No 11 Downing Street.
Woodford investors get £20m from administrator but further payouts likely to be hit by downturn
Investors in Neil Woodford’s collapsed investment fund will receive another £20 million from its administrator but further payouts are likely to be hit by a downturn in market conditions.
National Insurance Contributions reversal – what can employers do now?
With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity to attract and retain talent and must ensure that they are fully prepared for the change.
The Chancellors’ winners and losers
High earners will benefit most from today’s mini budget announcement.
IR35 reforms to be scrapped in April 2023
Reforms to the off-payroll working rules, known as IR35, are to be scrapped from April 2023, the Treasury has announced.
Chancellor scraps 45p top rate of income tax
Kwasi Kwarteng has announced that he will scrap the top 45p rate of income tax and cut the basic rate of income tax by 1p next year as part of a “bold and unashamed” push for growth.
