HMRC has not fined a single enabler of offshore tax evasion in five years, data released in response to a Freedom of Information (FOI) request has revealed. This is despite HMRC having landmark powers, which were introduced in 2017, to impose hefty fines. The data, which was released to the... read more →
Jul
05
Jul
05
The UK's tax gap estimate rose to a record to £39.8 billion in 2022/23 as small businesses accounted for almost two thirds of unpaid tax, according to HMRC's data. The tax gap was 4.8%, which is the difference between the amount of tax that should be paid to HMRC and... read more →
Jul
05
The UK’s business groups have pledged to work in partnership with the new Labour government to revitalise the nation’s economy. Labour leader Sir Keir Starmer is the new Prime Minister after leading the party to a decisive win in the General Election. Shevaun Haviland, Director General of the British Chambers... read more →
Jun
06
New company car advisory fuel rates have been published and took effect from 1 June 2024. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel... read more →
Jun
06
The rate of UK inflation fell to 2.3% in the year to April, according to the Office for National Statistics (ONS). Inflation is down from 3.2% in March and is the lowest level since September 2021. However, it is still above the Bank of England's 2% target. The drop was... read more →
Jun
06
Almost 300,000 self assessment taxpayers filed their return in the first week of the new tax year, HMRC has revealed. The early filers were almost 10 months ahead of the 31 January 2025 deadline. Almost 70,000 people filed their return on the opening day of 6 April this year. HMRC... read more →
Jun
06
UK adults face a significant shortfall in their pension savings at retirement compared to what they wanted to retire on, according to research from Standard Life. Standard Life's Retirement Voice Report found that, on average, retirees had hoped to build up a pension pot of £250,000. However, the average amount... read more →