In this recession, it’s the tail end set of kids starting work who aren’t alright February 1, 2023 People who started work during lockdowns escaped the fate of those entering the labour market in 2008, but it’s the young people still at university we need to be worried about, writes Sascha O’Sullivan.
Self assessment: Over 2 million people still need to file their tax return with the deadline falling at midnight today January 31, 2023 Taxpayers have until the end of Tuesday (31 January) to submit their self-assessment returns. The deadline for submitting online tax returns and paying any tax owed is midnight. The most recent figures from HM Revenue and Customs (HMRC) show that fewer than 2.7 million customers still needed to file their self-assessment returns, as of January [...]
Zahawi ditched by Rishi Sunak as Conservative chair over £5m tax bill January 29, 2023 Nadhim Zahawi has today been sacked by Prime Minister Rishi Sunak as Conservative party chair after weeks of speculation about his tax affairs. Sunak told Zahawi, 55, that, after an independent investigation, “it is clear that there has been a serious breach of the Ministerial Code,” forcing him to ditch the MP for Stratford-on-Avon. Sunak’s [...]
Half-term strike action to bring chaos at British Museum January 28, 2023 Fresh strikes have been called by the biggest civil service union in its long-running dispute over jobs, pay and pensions. Members of the Public and Commercial Service union (PCS) at the British Museum will take industrial action during February half term. More than 100 members of the museum’s visitor services and security teams will take [...]
‘I haven’t paid an HMRC fine’ Hunt confirms, as calls mount for Zahawi to go over tax fiasco January 27, 2023 Chancellor Jeremy Hunt said he has never paid a tax fine, as ministers’ financial affairs come under scrutiny amid growing calls from Conservatives for Nadhim Zahawi to stand down. Hunt raised suspicions by twice refusing to say whether he has paid a penalty as he took questions after an economic speech, claiming the public are [...]
‘No penalties for innocent tax errors’: Head of HMRC piles more pressure on Zahawi January 26, 2023 The boss of HM Revenue & Customs (HMRC) has told MPs there are “no penalties for innocent errors”, as he was quizzed on the tax furore surrounding Nadhim Zahawi. HMRC chief executive Jim Harra, appearing before the Public Accounts Committee where he was due to discuss tax compliance and the pandemic, was pressed on some [...]
PMQs: Sunak to come under fresh scrutiny today amid Zahawi tax row and calls to fire Tory chair January 25, 2023 Rishi Sunak will come under fresh pressure over Nadhim Zahawi as he resists firing the Tory party chairman despite him being under investigation over his tax affairs. Labour leader Sir Keir Starmer is likely to seize on the fallout from Mr Zahawi’s multi-million pound settlement at Prime Minister’s Questions on Wednesday. The Prime Minister ordered [...]
House sales set to tumble this year on recession jitters, experts warn January 24, 2023 House sales are set to tumble due to owners waiting until the recession passes to cash in on their homes, estate agents have predicted today. Homeowners are expected to adopt a wait and see approach during the first six months of 2023 for fear they will have to sell their property at a lower-than-demanded price. [...]
UK’s ‘science superpower’ dreams at risk due to HMRC crackdown on R&D tax relief fraud January 24, 2023 The UK’s goal to become a ‘science superpower’ is at risk as an increasing number of British firms move their R&D activity abroad, due in part to HMRC’s crackdown on fraudulent tax relief claims, a new report says. More than two-thirds (69 per cent) of UK businesses moved R&D activity abroad last year, figures from [...]
With an average claim in excess of £50k, it really is time to see if you qualify for an R&D Tax rebate January 23, 2023 What are Research and development tax credits? Simply put R&D Tax Credits are a niche, but a lucrative part of the UK tax code that could bring your company significant tax relief. Most companies we speak to at SAS R&D don’t think that they will qualify for these payments with the common misconception amongst business [...]