Home transactions up in November as eyes turn to Omicron’s impact on market December 21, 2021 Transaction numbers gained pace in November, up 24.3 per cent on the previous month, following an initial dip after the end of the stamp duty holiday. According to the latest HMRC data, there were 96,290 housing transactions in November, 16.4 per cent lower than November 2020, but up on the prior month. The figure for [...]
Sunak’s quietly simplified tax policy could unshackle our economy – or strangle it December 16, 2021 Tax Day hardly sounds like the kind of day we want to mark on the calendar. It is a relatively new practice, when the government dumps an array of tax consultations, reforms and policy proposals on the Treasury’s website, all in one go. Unsurprisingly, they mostly happen without fanfare. But they do offer us helpful [...]
Finance Bill: government accused of failing to make case for tax reform December 15, 2021 A Westminster committee has accused the government of failing to make an adequate case for its proposed reforms to the tax system.
Letters: New Covid rules, new support December 10, 2021 [Re: The party’s over, yesterday] Small businesses will undoubtedly be hit by the new restrictions implemented as part of Plan B. These businesses have only just started on their tentative recovery after nearly two years of this crisis, and many need the winter trading boost to get through to 2022 with their heads above water. [...]
Waterstones ‘named and shamed’ for failing to pay minimum wage December 9, 2021 Waterstones are among just some of the companies that have been “named and shamed” by the Government this morning for failing to pay the minimum wage.
City Moves: Who’s switching jobs in the Square Mile today? December 9, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. UHY Hacker Young Accountancy group UHY Hacker Young has bolstered its London office with a new research and development (R&D) tax partner. Joining from East Midlands firm Duncan & Toplis, Kevin Edwards is set to advise on [...]
Tax disadvantage affecting Scottish partnerships to be removed December 8, 2021 In 2020 ICAS called for a tax disadvantage affecting Scottish partnerships to be removed, so we were pleased to see the recent government announcement that the relevant legislation will be amended. What’s the problem? The UK capital gains tax regime allows a roll-over style relief for CGT where joint owners of land exchange their interests [...]
HMRC: We are ‘actively challenging’ multinationals on tax with additional £94bn raked in during last decade December 6, 2021 HMRC told City A.M. this afternoon that it is “very actively challenging” multinationals when it comes to tax as the taxman secured £94bn in additional revenue from large businesses in the last decade. HMRC was responding to claims that big businesses’ underpaid tax has risen by another £1bn in a year to £35.8bn, up from £34.8bn [...]
HMRC to crack down on umbrella companies used to hire temp workers December 1, 2021 The government's tax department plans to crack down on umbrella companies avoiding paying workers and their taxes.
Bitcoin exchanges unable to claim tax returns on cryptocurrencies November 28, 2021 Bitcoin exchanges will not be exempt from the UK’s digital services tax, according to HMRC, and are also not qualified as money. Cryptocurrency exchanges have been informed that they are exposed to the charge, as the digital asset “are not financial instruments” which leaves exchanges unable to claim tax returns on them, The Telegraph first [...]