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Displaying 1-10 of 25 results
Limited additional funding for HMRC in Spending Review
- Article
- 28 Oct 2021
HMRC’s Spending Review 2021 settlement will see its spending, excluding that ringfenced for COVID-19, increase to £5.2bn per year by 2024/25. ICAEW’s Tax Faculty explains how HMRC might prioritise the £0.9bn funding increase on its 2019/20 settlement.
Budget confirms one-year delay to basis period reform
- Article
- 27 Oct 2021
The government has announced that reforms to the taxation of unincorporated businesses (known as ‘basis period reform’) will go ahead as planned, although implementation has been pushed back to 2024.
An awesome performance, but few tax measures
- Article
- 27 Oct 2021
ICAEW’s Head of Tax on the Budget, which despite announcements on business rates, R&D tax relief and a promise of future tax cuts, provided more political spectacle than detailed tax policy.
Budget aims to boost UK’s attractiveness to business
- Article
- 27 Oct 2021
A number of measures announced in the Autumn Budget are designed to make the UK a more attractive place to do business. ICAEW’s Tax Faculty outlines the key tax-related measures, including changes to R&D reliefs and enabling companies to move their place of incorporation to the UK.
Chancellor cuts universal credit taper rate
- Article
- 27 Oct 2021
Following criticism after the COVID-related uplift to universal credit was removed at the start of the month, Rishi Sunak used the Autumn Budget to announce changes to the taper rate and working allowance to increase support for recipients.
CGT reporting deadline for property sales extended
- Article
- 27 Oct 2021
Following calls from ICAEW the government has confirmed that many taxpayers will now have twice as much time to report and pay capital gains tax after selling property in the UK.
What tax announcements to look out for in the Budget
- Article
- 26 Oct 2021
ICAEW Tax Faculty’s Anita Monteith provides a roundup of some of the loudest speculation by the tax profession ahead of the Autumn Budget 2021.
Tax data submitted by online platforms may be misleading, warns ICAEW
- Article
- 26 Oct 2021
Proposals to require digital marketplaces to report sellers’ incomes to HMRC could impose significant burdens, according to ICAEW. The plans highlight the complexity of compiling accurate data and the need for broader tax reforms.
Tax news in brief
- Article
- 26 Oct 2021
Highlights from the broader tax news week ending 26 October, which includes: new legislation for the health and social care levy and simplifying inheritance tax rules. A deadline reminder for final CJRS claims, more agent webinars from HMRC and confirmation that HGV drivers on temporary visas are not entitled to tax relief on accommodation.
UK signs global tax initiative to re-align digital services tax and refund any excess
- Article
- 25 Oct 2021
The UK has agreed a deal on how to transition from its digital services tax to the new OECD-led two Pillar global tax system due to be implemented in 2023.
Displaying 1-10 of 25 results