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How to reclaim emergency tax on pension drawdowns
HMRC has issued guidance on how to claim back a refund in the current tax year on an overpayment of tax when a pension has been flexibly...
Sara White
Oct 10, 20232 min read


Corporation tax take up 26% to record £84.7bn
HMRC has reported a massive hike in corporation tax receipts for 2022-23, rising by £17.3bn to £84.7bn Sara White, Editor, Accountancy...
Sara White
Oct 10, 20232 min read


IT specialist loses £30k share option relief appeal
An IT specialist has lost a First Tier Tribunal (FTT) appeal after claiming relief for compensation he received for the loss of rights...
Max Austin
Sep 30, 20233 min read


What you need to know: directors duties
Gavin Kramer, senior associate at Collyer Bristow, explains the key responsibilities of directors from exercising independent judgment to...
Gavin Kramer
Sep 29, 20234 min read


Wimbledon home renters warned about tax liability
As hundreds of homeowners rent out their rooms and houses during the Wimbledon tennis championships for up to £15,000 a week, it is...
Sara White
Sep 28, 20234 min read


Bringing order to chaos – entity simplification
Complex corporate structures should be simplified to reduce costs, mitigate risks and remove superfluous legal entities. Eddie Bines,...
Eddie Bines
Sep 27, 20234 min read


Complex scams on the rise warns Financial Ombudsman Service
More than 21,900 fraud and scam complaints were received by the Financial Ombudsman Service last year, with the majority being related to...
Max Austin
Sep 26, 20233 min read


Indirect demerger of a trade – part 1
Paul Davies, FCA, senior tax writer at Croner-i, considers the tax considerations when separating a company’s trading activities in a...
Paul Davies
Sep 23, 20237 min read


AI adoption could see £31bn boost to UK economy
The UK economy could receive a £31bn boost from the adoption of generative AI, with some sectors seeing more of an impact than others,...
Max Austin
Sep 22, 20232 min read


Over 180,000 low earners caught by HMRC fines
HMRC fined more than 180,000 low earners for not filing their self-assessment returns on time, despite many not even earning enough to...
Max Austin
Sep 21, 20232 min read


Inflation stays stuck at 8.7%
The current rate of inflation has seen no change at 8.7% in May, the same rate it was in April, despite expectations of a fall Max...
Max Austin
Sep 20, 20232 min read


Top 10 tips: inheritance tax planning
As annual inheritance tax receipts exceed £6bn a year, it is essential to follow some basic tax planning to protect your estate. Stevie...
Stevie Heafford
Sep 19, 20233 min read


Diverted profits tax may merge with corporation tax
The government is considering tightening the rules to make it more difficult for multinationals to avoid paying the diverted profits tax...
Sara White
Sep 16, 20232 min read


HMRC issues 18k penalties over careless errors
Careless mistakes made on tax returns resulted in penalties for 18,641 taxpayers last year while 1,025 fines were issued for deliberate...
Sara White
Sep 15, 20232 min read


Making Tax Digital too complex for first pilot, says HMRC
The head of HMRC told MPs that it had underestimated the complexity of Making Tax Digital (MTD), which had caused eight years of delay...
Max Austin
Sep 14, 20234 min read


Autumn Statement set for 22 November
The Chancellor has confirmed that the Autumn Statement is scheduled for 22 November 2023 Sara White, Editor, Accountancy Daily This will...
Sara White
Sep 13, 20231 min read


ULEZ fees tax deductible for sole traders
Sole traders and self employed will be able to claim tax relief on ULEZ charges when they submit annual tax returns for business related...
Sara White
Sep 12, 20232 min read


Business confidence reduces recession risk
More than half of medium sized businesses are confident about future growth and are performing well, defying inflationary pressures,...
Sara White
Sep 9, 20232 min read


Lack of tax-efficient investment advice for taxpayers
Despite frozen tax thresholds and more taxpayers paying higher rate tax, only 40% of advisers offer specialist advice on tax-effective...
Sara White
Sep 8, 20233 min read


What does the future hold for R&D tax relief?
Plans for an overhaul of research and development tax reliefs need to be finetuned to ensure a merged system is effective, warns Nigel...
Nigel Holmes
Sep 7, 20234 min read
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