NEWS

The ATT has made the following Budget representations:Income tax simplification which covers the following points:providing an enduring ‘opt-in’ to income tax self-assessment to simplify the position for taxpayers who would prefer to file tax returns...

The Income Tax (Exemption of Social Security Benefits) (No 2) Regulations, SI 2024/901, amend ITEPA 2003, s 677 to insert a new row into Part 1 of Table B in that provision, in order to wholly exempt pension age disability payments paid by the...

The Infected Blood Compensation Scheme (Tax Exemptions and Relief) Regulations, SI 2024/902, are made to exempt compensation payments made under the Infected Blood Compensation Scheme, from income tax and capital gains tax, and relieve payments from...

HMRC guidance has been published for non-resident landlords who are individuals on how to apply online to receive UK rental income without UK tax deducted. For those who cannot use the online service there is a link to fill in form NRL1 for printing...

A recent report from Oxford Economics warns of Labours proposed non-dom changes, citing 98% of remittance basis users surveyed indicated they would emigrate from the UK sooner if the reforms were implemented and a tax loss of 1bn. The...

HMRC estimate 5.5bn was lost due to tax evasion in 2022/23, 81% of which was from small businesses, up from 66% in 2019/20.According to HMRC, while the overall level of tax evasion has stabilised in recent years, it has increased among...

Reforms to IHT, CGT and NICs could raise over £20bn a year, and still pass a ‘triple tax test’ of improving tax efficiency and not break manifesto commitments, according to new research published by Resolution Foundation.The Chancellor has inherited...

The amount invested in SEIS funds was 2.9 times higher than in the same period last year with the number of investors having trebled, according to non-advisory investment broker, Wealth Club. They account for the rise in SEIS flows in fears of...

The Institute of Chartered Accountants of Scotland (ICAS) has called on the Scottish government to take a long-term approach to its financial planning, adopt tax simplicity and standardise access to apprenticeships across the UK and urged the...

The government issued an updated remit for the Low Pay Commission (LPC) outlining areas to consider when recommending the National Minimum Wage and National Living Wage. This replaced the remit issued under the previous government in March 2024.The...