Finance Bill

Today’s news in brief – 17/9/2024

Galliford Try has delayed releasing its annual results due to a request from auditor BDO for more time to complete the audit. Originally scheduled for September 19, the results will be released at a later date. BDO, which has served as the company’s auditor since 2018, is completing audit quality…

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Henderson Loggie urges govt to deliver clear tax roadmap in Budget

Scottish independent accountancy firm, Henderson Loggie, has urged the UK government to provide businesses with a “clear and comprehensive” tax roadmap in the upcoming Budget.  It comes as Scotland’s businesses face ongoing economic uncertainty, which the firm believes could be mitigated by long-term tax clarity to strategic planning and investment. …

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Evelyn Partners appoints new partner to R&D tax team

Evelyn Partners has announced the appointment of Jennifer Tragner as a partner in its R&D (research and development) tax team in the Bristol office.  Tragner has almost 20 years of experience advising clients in R&D tax incentives and joins Evelyn Partners from ForrestBrown where she was a director and head…

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The history of Making Tax Digital

First announced in December 2015, the UK government revealed Making Tax Digital (MTD), an initiative for “the end of the tax return and a transformed tax system”. This roadmap was supposed to be in place by 2020, but as we know, there have been many delays since then. As of…

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Less than half of UK firms complete Pillar Two assessment

Less than half (42%) of UK firms have completed a Pillar Two impact assessment, according to research from EY. The survey found that 89% of UK finance leaders expect their tax planning and business operations to experience ‘moderate’ to ‘significant’ change once BEPS 2.0 is implemented. It also found UK…

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HMRC urges companies to crack down on R&D tax fraud and error

HMRC has written to more than 2,000 companies as part of its ever-increasing compliance activity to crack down on fraudulent and inaccurate R&D tax relief claims. These letters aim to encourage its recipients to check that their previous R&D tax relief claims are complete and correct, and where inaccuracies are…

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More needed to tackle R&D abuse and improve compliance, claims RSM

More is needed to tackle R&D abuse and improve compliance despite the improvements to legislation made as part of the Government’s Finance Bill, according to RSM UK. The new bill confirms that claims for R&D reliefs must be made digitally, due to come into effect for accounting periods beginning on…

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APSCo welcomes HMRC tax avoidance consultation results

The Association of Professional Staffing Companies (APSCo) has welcomed HMRC’s tax avoidance consultation results. The body has claimed that it is “pleased” to see that HMRC will carry through with its proposed clamping down on promoters of tax avoidance. Under next year’s finance bill, HMRC is set to freeze assets…

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CIOT and ICAS calls on gov to improve public awareness of taxations

The Chartered Institute of Taxation (CIOT) and the Institute of Chartered Accountants of Scotland (ICAS) are calling on Scotland’s political parties to improve public awareness of devolved taxation in the next parliament session. The news follows on from a recent poll of 1,098 adults in Scotland undertaken by the Diffley…

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The future of Capital Gains Tax in the light of Covid-19

The Covid-19 pandemic has caused shockwaves around the world, with financial recovery plans drawn up by most countries in the wake of national lockdowns and plummeting economic output. The UK is no different, with the Treasury ordering a review of Capital Gains Tax (CGT) to see how a change to…

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