Articles in "Tax"

As the number of companies benefiting from the Research and Development (R&D) Tax Credit system has grown, so have HMRC's efforts to prevent erroneous claims.

For many companies the idea of paying tax is unpleasant let alone paying tax before it is due, however doing so could mean that you actually receive a payment from the Government by way of interest.

I’ll start by putting a myth to bed – the term ‘non-dom’ remains because the concept originates from a taxpayers (and their parents) place of birth. Whilst a Chancellor has many powers he can’t change the origin of somebody’s birth!

Changes to capital allowances rules have for many years been a prominent feature of the annual announcements from the Chancellor, generating endless rate changes and transitional measures. These yoyoing rules and thresholds have made it particularly difficult for businesses to plan tax efficiently for capital expenditure.

In his 2024 Spring budget, the Chancellor Jeremy Hunt announced that the government would ‘abolish the current tax system for Non-Doms, get rid of the outdated concept of domicile and the remittance basis in the tax system’. But what is the ‘Non-Dom’ tax regime, and how could this affect you (even if you are not considered a Non-Dom)?

This was a nasty surprise in the Budget announcement – the removal of MDR. The announcement concluded it didn’t benefit the intended taxpayer and has been subject to frequent abusive claims.

New company car advisory fuel rates have been published and took effect from 1 March 2024.

The abolition of Furnished Holiday Lettings relief will have major implications for our region, a major tourist hotspot.