by Claire Aston | Mar 6, 2024
Responding to today’s Spring Budget 2024, the TaxWatch team focuses its thoughts on a few areas it found particularly interesting, from a tax compliance and administration standpoint. Furnished Holiday Lettings (FHL) As speculated in recent days, the Chancellor...
by Claire Aston | Mar 5, 2024
We note the recent speculation that the Chancellor is planning to abolish the furnished holiday let (FHL) tax benefits in tomorrow’s Budget statement. TaxWatch raised issues around this regime last year, pointing out how much income and capital gains tax could be...
by Claire Aston | Dec 14, 2023
We’ve written for many years about the UK’s stubbornly high tax gap. This is the amount of tax that should have been paid if businesses and individuals had complied with all applicable tax legislation, but hasn’t been. The figure is estimated by HMRC for each tax...
by Claire Aston | 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 Aston | 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 Aston | 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...
