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HM Revenue & Customs to review and rework some 2016-17 self-assessment tax returns following error
12 Nov 2018

The Chartered Institute of Taxation (CIOT) has warned that HM Revenue & Customs (HMRC) is to review and potentially rework as many as 30,000 self-assessment tax returns that were filed online for 2016-17 owing to concerns that its tax calculator


R&D Tax Credit system to be reviewed in light of fraudulent claims
12 Nov 2018

According to figures released in the Autumn Budget, HM Revenue & Customs (HMRC) has prevented around £300 million of fraudulent R&D tax credit claims since the relief was introduced. In a bid to prevent further abuse of this tax relief,


Research reveals Inheritance Tax hotspots across the UK
12 Nov 2018

New research has revealed that the affluent area surrounding Guildford in Surrey has the highest proportion of people paying Inheritance Tax (IHT). The study showed that 658 estates were subject to the tax the town in 2015/16, paying on average


Entrepreneurs’ Relief rules to be tightened
12 Nov 2018

Despite rumours that the Chancellor might scrap Entrepreneurs’ Relief (ER) all together in the Autumn Budget, Philip Hammond decided to retain the tax relief but has made fundamental changes to who qualifies for it. Mr Hammond said that “encouraging entrepreneurs


National Living Wage to rise in April 2019
12 Nov 2018

In his latest Budget speech to the Commons, Chancellor Philip Hammond announced that the National Living Wage and National Minimum Wage would increase from April next year. However, despite many employees across the UK welcoming this sudden pay rise, small


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