The British Chambers of Commerce (BCC) has warned that the UK could fall behind in the race to achieve net zero. Research carried out by global management consulting firm McKinsey and Company showed that the transition to net zero could…
The Chartered Institute of Taxation (CIOT) has urged the government to implement a transitional rule to allow older farmers and other business owners to gift assets to the younger generation free of Inheritance Tax (IHT) before changes take effect in…
The British Chambers of Commerce (BCC) has called for Chancellor Rachel Reeves to use the Autumn Budget to combat ‘persistent’ hiring problems. According to the BCC’s latest Quarterly Recruitment Outlook, 54% of businesses have attempted to hire employees in the…
Chancellor Rachel Reeves recently announced a 'blitz on business bureaucracy', with cuts to red tape that the government says will save firms £6 billion. Ms Reeves says the government will be 'scrapping pointless paperwork' and speeding up planning to deliver…
The Treasury should make it easier for state pensioners to pay any tax they owe with a Pay as You Earn (PAYE) scheme, says the Low Incomes Tax Reform Group (LITRG). The LITRG told the Treasury that there is a…
HMRC has published the latest issue of the Employer Bulletin. The October issue has information on various topics, including: Making your PAYE Settlement Agreement payment. Guidance for labour supply chains featuring umbrella companies. New Advisory Electric Rate for fully electric…
The government has named and shamed nearly 500 employers who failed to pay the National Minimum Wage (NMW). The employers have been fined over £10 million for failing to comply with NMW laws. In addition, £6 million has been repaid…
HMRC has appointed six independent industry specialists to a new Research and Development (R&D) Expert Advisory Panel. The introduction of the panel is one of a number of practical enhancements that the tax authority says will make it easier for…
HMRC brought in an extra £4.6 billion in tax revenue last year by using its ‘big data’ system. The tax authority’s Connect system uses data from a wide range of financial sources to analyse tax returns and detect potential evasion.…
New legislation aimed at tackling rogue tax agents and those pushing tax avoidance schemes won’t catch all of those it is aimed at, warns the Chartered Institute of Taxation (CIOT). Instead the measures could make it harder for some taxpayers…
