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Holiday let tax rules allow owners to escape thousands of pounds in tax
The tax treatment of furnished holiday properties appears inappropriately generous and could encourage houses to be locked away to save thousands of pounds in taxes.
‘Our tax system is too complicated’ concludes Treasury Committee report on tax reliefs
The Treasury Select Committee has published a report into tax reliefs which calls for regular reviews and the removal of some.
Around £1bn per year lost to fraud and error in R&D tax relief claims
HMRC’s initial data into R&D tax relief claims shows significant underestimates in previous calculations of fraud and error in the schemes.
HMRC’s 2023 Tax Gap report: Proportion of tax going unpaid unchanged from previous year
The amount of tax lost in the 2021-22 financial year was 4.8% of the total tax owed, the same figure as the previous year.