HMRC investigations doubles additional tax from large businesses
HMRC’s large business directorate has doubled the amount of tax revenue it collects, according to the National Audit Office (NAO). A hands-on approach to tax compliance for large businesses yielded…
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HMRC takes £137 million in late payment interest
HMRC has taken in over £137 million from late payment interest so far for 2023/24, a freedom of information request from investment platform AJ Bell shows. The tax authority has…
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Hundreds of employers handed penalties for illegally underpaying workers
Almost 400 employers from across the UK have been named for failing to pay the minimum wage to tens of thousands of workers, says the government. Around 60,000 workers were…
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Grant boost for installing EV chargers for households and businesses
Renters, flat owners, homeowners without driveways and businesses will be able to save up to £500 when installing electric vehicle (EV) charge points, the government has announced. The 40% uplift…
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Government unveils package of youth employment initiatives
The government has unveiled a youth employment drive that aims to create 200,000 jobs for young people and reform apprenticeships. It comes as apprenticeship starts amongst young people are down…
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New tax year brings contentious changes
The start of the new tax year on 6 April 2026 brings contentious changes with it, warns the Chartered Institute of Taxation (CIOT). The most controversial change is the taxation…
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HMRC website seeks to close tax knowledge gaps
HMRC has launched a new ‘Tax Confident’ website which it says will help people fill their tax knowledge gaps. The tax authority says the site is designed around real-life situations,…
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Chancellor says plan is right despite uncertain backdrop to Spring Forecast Statement
Chancellor Rachel Reeves insisted she has the ‘right economic plan’ for the UK in her Spring Forecast Statement announcement. Ms Reeves acknowledged the economic uncertainty caused by war in the…
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One million miss self assessment deadline
An estimated one million taxpayers missed the self assessment deadline for the 2024/25 tax year, according to HMRC. Over 11.48 million taxpayers filed their self assessment tax returns before midnight…
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Getting tax affairs back on track if self assessment deadline was missed
The number of people using the HMRC app to pay their self assessment tax bill has increased by 65% this tax year, according to the tax authority. Almost 340,000 people…
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Making Tax Digital for Income Tax biggest tax change since self assessment
The introduction of Making Tax Digital (MTD) for Income Tax this April will be the biggest change to the UK’s tax system since self assessment, says the Low Incomes Tax…
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Major UK banks agree lending package aimed at SMEs
The lending commitment is one of the largest collective moves by the banking sector in over a decade. The government says this represents an ‘historic show of confidence in the UK economy’. Senior executives from NatWest,…
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Autumn Budget 2025
The Chancellor, Rachel Reeves, presented her 2025 Budget to Parliament on 26 November 2025. She made it clear that this would be an Autumn Budget that focused on fairness, with…
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FW Smith Riches & Co Recognised for Client Service Excellence
FW Smith Riches & Co, a London-based firm of ICAEW Chartered Accountants with roots dating back to the 1880s, has been shortlisted for the Client Service Award (Medium and Large…
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Spring Statement 2025
Chancellor Rachel Reeves delivered the Spring Statement on Wednesday 26th March 2025, outlining the economic priorities of the Labour Government and reaffirming a commitment to fiscal discipline and long-term investment.…
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Autumn Budget 2024
A new Government, a new Chancellor and a new approach to the UK’s fiscal policies. Rachel Reeves started her first Budget with a message that her measures would lead to…
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