by Claire Aston | Jan 7, 2025
Error and fraud within R&D tax relief reached £1.1bn in 2020-21 (24% of all claims) before HMRC took action to stem the losses and tighten up the claims processes. New disclosure facility launched for businesses who overclaimed R&D relief wanting to set their...
by Claire Aston | Dec 17, 2024
Sir Jim Harra, outgoing CEO of HMRC, got a tense grilling by the Public Accounts Committee (PAC) yesterday when he admitted that HMRC don’t have a specific strategy or target for tax evasion within the overall tax gap, as found by the National Audit Office which we...
by Simon Watkins | Nov 14, 2024
The Government has summarised responses received to a consultation on raising standards in the tax advice market undertaken by the previous Government. Autumn Statement set out new measures and further consultation. These measures completely ignore the findings from...
by Claire Aston | Oct 24, 2024
£300 million tax lost to non compliance by UK resident individuals on offshore accounts in 2018-19 This figure appears to be a gross underestimate, definitely excluding any assets held through companies, and the treatment of assets within trusts isn’t clear...
by Claire Aston | Sep 27, 2024
Yesterday HMRC published its annual statistics on the tax relief for Research & Development (R&D) in the 2022-23 tax year. The main findings were: A fall in the number of claims made, down 21% to 65,690. Most of the fall was concentrated in the SME scheme,...
by Simon Watkins | Sep 9, 2024
Sweet Deception: £4.4bn tax evasion leaves a sour taste for HMRC Tax evasion growing amongst small businesses, but HMRC lacks an effective strategic response Estimated £4.4billion lost to tax evasion by small businesses, although HMRC admit this could be erroneous....
