Content Tagged with UK
Under powers set out in Finance Act 2020, directors of insolvent companies could find themselves liable for accumulated tax debts for up to five years.
HMRC's Fraud Investigation Service has recovered more than £1bn from the proceeds of crime and tax offenders since the formation of a specialist fraud squad five years ago.
In our handy guide to tax filing deadlines, we provide an at-a-glance guide to key dates from payment dates for corporation tax instalments to deadlines for amending personal, trustee and partnership tax returns.
Businesses can now apply for a financial grant worth up to £6,000 from the £635m support package given to local councils to support those most affected by the Omicron variant of Covid-19.
The Treasury and the Bank of England is to launch a consultation next year on potential plans to launch a UK central bank digital currency (CBDC).
For non doms it is important to consider the levels of the remittance basis charge and when the application of the deemed domicile rules means that a claim for the remittance basis is no longer possible, warn tax advisers.
Charlotte Murtagh, head of private office at ZEDRA, provides tips to ensure wealth stays within the family and issues to consider around the business, taxes, profits as well as estate and inheritance fees to avoid unwelcome surprises.
Two thirds (66%) of UK business leaders expect the threat from cyber criminals to increase over the next 12 months, according to the latest PwC cyber security survey.
Less than a third of businesses plan on cutting their greenhouse gas emissions over the next year, despite the UK’s recent net-zero efforts, according to the latest research.
The Department for Work and Pensions (DWP) has published new regulations that will give trustees the power to stop suspicious transfers.
As HMRC prepares to send emails and text reminders to self-assessment taxpayers, the department is reminding them to be on their guard after nearly 800,000 tax-related scams were reported in the last year.
HMRC has issued guidance on what action to take if a taxpayer has been sent a notice stating that they may be jointly and severally liable for the relevant tax liability of a company that has been involved in tax avoidance or evasion.
Over the last five years, HMRC has paid out nearly £2m to informants who reported incidents of tax-dodging to the tax authority.
The government plans to introduce legislation to regulate umbrella companies to protect workers and clamp down on tax avoidance.
The Treasury has rejected plans proposed by the Office of Tax Simplification (OTS) to overhaul inheritance tax but has made a few concessions on capital gains tax to simplify the complex rules.
The government has introduced a Bill into parliament proposing a new binding arbitration process to help landlords and business tenants find proportionate resolution of Covid-19 related rent debt.
The number of mobile wallets in use is on track to reach 4.8bn by 2025, up from 2.8bn in 2020, with nearly 60% of the world’s population using digital payments, according to Capgemini’s 2022 Top Trends in Payments report.
The reporting requirements for statutory sick pay (SSP) have been changed temporarily due to the latest covid situation.
With the residence nil rate band (RNRB) to remain fixed until April 2026, now is the time for taxpayers to review their existing wills and consider inheritance tax (IHT) opportunities to take advantage of this valuable exemption.
