by Ruth Clark | Oct 15, 2021 | Tax
Taxpayers are being urged to remain cautious of digital approaches claiming to be from HMRC, as tax-related scams have almost doubled in the past 12 months. Writing to voluntary and community sector groups this week, HMRC’s Head of Cyber Security, Mike Fell, starkly...
by Ruth Clark | Oct 11, 2021 | Tax
Capital gains tax rates to rise? Increasing capital gains tax, possibly by aligning with income tax rates, would be a more visible tax rise but may not collect a great deal relative to the total tax take. Announcing a tax rise for say April 2023, could incentivise...
by Ruth Clark | Oct 1, 2021 | Tax
From 1 October 2021, the hospitality sector VAT rate will increase from 5% to 12.5% until 31 March 2022, after which time it will return to the standard rate, currently at 20%. On 15 July 2020, the UK government temporarily applied a reduced rate of VAT (5%) to...
by Ruth Clark | Sep 24, 2021 | Tax, VAT
HMRC is trialling a forced closure of the online VAT return for 800 businesses that should be complying with Making Tax Digital for VAT. Businesses will not be able to file VAT returns due on 7 October 2021 unless they have signed up to MTD VAT. Making Tax Digital for...
by Ruth Clark | Sep 11, 2021 | HMRC, Tax
National insurance contributions and dividend tax rates will increase by 1.25 percentage points across the UK from April 2022, with the projected £12bn annual income to be ringfenced to pay for health and social care. Prime Minister has confirmed that rates of...
by Ruth Clark | Sep 3, 2021 | HMRC, Tax
Taxpayers are being urged to remain cautious of digital approaches claiming to be from HMRC, as tax-related scams have almost doubled in the past 12 months. Writing to voluntary and community sector groups this week, HMRC’s Head of Cyber Security, Mike Fell, starkly...
