HMRC will be given a 30% rise in specific funding to expand debt collection activities from the new tax year The Chancellor said that the extra £163m, which will bring the annual costs to £515m for 2024-25, would be invested in HMRC’s ability to support individuals...

Nearly 100,000 taxpayers have used the HMRC app to settle tax bills of £121m in the last six months. Usage is up threefold on the same period in 2022 when just 36,467 users paid a total of £34.6m. The Apple version of the app is rated at 4.8 out of five stars with...

From November 2022 to October 2023 the total amount of income tax paid was £262bn, a £28bn rise compared to the previous year’s £234bn In the last six months the total amount of income tax paid was £145bn, a jump of £14bn on the same period of 2022. Income tax take...

Rishi Sunak has given the strongest sign yet that the Chancellor is considering personal tax cuts in the Autumn Statement this week The government is raking in record tax receipts as the country faces the highest tax burden in 70 years and inflation has halved to 4.6%...

Landlords with properties held in incorporated businesses are being warned to check that they are fully compliant with their tax affairs HMRC has launched the latest nudge campaign targeting buy to let landlords who hold property in businesses, which may have failed...

ICAEW is planning to raise the minimum level of cover on professional indemnity insurance claims to £2m for large accounting firms to offset the rising cost of claims and inflation The institute said the professional indemnity insurance (PII) cover needs to be...

Revenue Scotland will no longer accept emails from tax agents and accounts related to the SETS online tax collection system From 4 December 2023, Revenue Scotland will only communicate by text secure message service (SMS) when communicating with registered users of...

The number of permanent job vacancies is falling despite a rise in starting salaries, according to the KPMG and REC, UK Report on jobs The number of permanent job vacancies is falling despite a rise in starting salaries, according to the KPMG and REC, UK Report on...

BDO has reported a 16% increase in revenues to £935m for the financial year 2022/23, with significant growth across all three of its service lines of audit, tax and advisory Fee income grew by double figures driven by demand from the firm’s core market of mid-sized...

The director of a Wolverhampton joinery installation business has been banned for 10 years after fraudulently claiming a £50,000 bounce back loan James Alexander, director of Ebstree Solutions Limited, falsified his income when he applied for a maximum bounce back...