by Claire Ralph | Nov 23, 2023
The fiscal event favourite, R&D tax reliefs, produced further conundrums for businesses and advisers and, therefore, HMRC. The government’s Autumn Statement 2023 confirmed the planned changes to the two main R&D tax relief schemes, which will create a...
by Claire Ralph | Nov 22, 2023
Amongst the theatrical showmanship that characterises UK fiscal events TaxWatch pulls out a few of the more interesting announcements made in today’s Autumn Statement. ‘Full expensing’ made permanent – 100% Corporation Tax (CT) relief for plant and machinery...
by Claire Ralph | Nov 10, 2023
The extremely high level of tax relief available to the UK’s oil and gas companies compared to all other businesses has the potential to distort private sector investment, TaxWatch believes. We also question whether this was the policy intention when the Energy...
by Claire Ralph | Oct 16, 2023
• £60.5bn estimated UK revenues • £14.8bn estimated UK profits • £2.8bn estimated corporation tax @ 19% • £753m estimated UK corporation tax and digital services tax paid • £2.0bn estimated UK tax avoided In today’s new report, we analyse seven large US-based...
by Sarah Walton | Jul 26, 2023
The Treasury Select Committee (TSC) today published a report1 about the complicated world of tax reliefs. Last year TaxWatch provided written evidence to the Committee on this enquiry and in December last year, TaxWatch’s then acting director, Alex Dunnagan, gave oral...
by Claire Ralph | Jul 20, 2023
£1.13bn – revised estimate of error and fraud in 2020-21 (previously £338m) 24.4% – revised rate of error and fraud in SME scheme (previously 5.5%) £1.05bn – estimated error and fraud in 2022-23 HMRC have finally published initial data from their random enquiry...
