News
Reforms to IHT, CGT and NI ‘could raise over £20 billion a year’
The Resolution Foundation has suggested that reforms to inheritance tax (IHT), capital gains tax (CGT) and national insurance (NI) could raise more than £20 billion a year. The Foundation said…
Government announces apprenticeship reforms
The government has announced an overhaul of the UK’s apprenticeship system. A new growth and skills levy which will replace the existing apprenticeship levy and include new foundation apprenticeships. The…
HMRC urged to take action to defuse side hustle time bomb
HMRC has been urged to defuse a tax bombshell threatening online traders, by the Low Incomes Tax Reform Group (LITRG). The LITRG, which is part of the Chartered Institute of…
£5.5 billion lost as a result of tax evasion
An estimated £5.5 billion was lost due to tax evasion during 2022/23, according to a report published by the National Audit Office (NAO). The NAO stated that ‘significant weaknesses’ in government systems…
Young people reminded to reclaim government savings
Over half a million young people are yet to lay claim to Child Trust Funds worth an average of £2,212, HMRC has said. Child Trust Funds are long term, tax-free…
Government cracks down on late payments
The government has announced a crackdown on late payments to small businesses and the self-employed. Late payments cost SMEs £22,000 a year on average, according to Smart Data Foundry, while…
