Discovery assessments look set to be applied to the High-Income Benefit Charge under new legislation set out by the Government.
Discovery assessments: Catch up with the latest changes
Tax
Generous tax incentives for investing in higher risk enterprises
With the cost of living rising steeply and taxation at its highest level for decades, tax breaks are welcome, particularly for those looking to invest their money in business.
Corporation Tax: could you be missing out on tax reliefs?
Knowing which taxes your business is liable for can feel a bit overwhelming, which can result in you not recognising opportunities to save on tax. Read more
Steep price rise warning as hospitality businesses yet to receive Omicron funding
The hard-pressed hospitality industry is facing some difficult choices after the temporary cut in VAT to 12.5 per cent reverted to the full 20 per cent. It will result in double-digit price increases for consumers as operators struggle to survive, leading industry body UKHospitality says.
Getting the data right is key to growth in hospitality
Hopes that the temporary VAT cut for hospitality would be extended were dashed in Chancellor Rishi Sunak’s Spring Statement this week.
Plastic Packaging Tax: what to know as deadline looms
There are just two weeks left until the Plastic Packaging Tax (PPT) comes into effect on 1 April 2022.
Watch out for tax scams, warns HMRC
HM Revenue & Customs (HMRC) is warning taxpayers to stay alert to tax scams after a surge in fraudulent activity.
End of tax-free shopping: what is the impact on tourism?
Following Brexit, the UK removed tax-free shopping for tourists which is now having an impact on Britain’s prospects as an international shopping destination, new research reveals. Read more
Act now to continue receiving tax credits, says HMRC
Workers and self-employed business owners who claim tax credits, Child Benefit or Guardian’s Allowance have just one month left to switch their Post Office card account, it has been warned.
Almost one million taxpayers handed late submission penalty after missing Self Assessment deadline
Nearly one million taxpayers have been fined after failing to submit their tax return on or before the 28 February Self Assessment deadline, it has been revealed.