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Articles23 Aug 2023
In the last few months HMRC has issued a significant update regarding basis period reform; As of the 2024/25 tax year, all affected businesses have to use the tax year as their basis period. They will only be liable for... Read more
Articles7 Aug 2023
Cryptocurrency has revolutionised the financial world. As the popularity of cryptocurrencies grows, so does the complexity of taxation of these digital assets.
Articles31 Jul 2023
What’s changing? From 8 August 2023 onwards, there are new filing requirements for all R&D relief claims submitted to HMRC. The main change is that an ‘additional information form’ now needs to be completed. In addition, new advance notification requirements... Read more
Guides & Publications28 Jul 2023
In the Autumn edition of Alliotts Focus we look at; Keeping on top of scams, Managing Corporation Tax, Rental Market Reforms, and a look at HMRC investigations
Articles27 Jul 2023
HMRC is offering taxpayers named in the leaked Pandora Papers a chance to correct their tax affairs. The October 2021 leak involved almost 12 million documents revealing hidden wealth and tax avoidance. The papers revealed that many taxpayers had used... Read more
Articles26 Jul 2023
Just over 200 businesses – including some of the country’s best-known retailers – have failed to pay the minimum wage and will have to repay workers and face penalties of up to £7 million. The minimum wage rules can be... Read more
Articles26 Jul 2023
Simplifying the UK tax code has been a topic of debate among politicians, economists, and tax professionals. Advocates argue that it can lead to better administrative efficiency, higher compliance rates, and economic growth. On the other hand, detractors raise concerns... Read more
Articles25 Jul 2023
The tax gap is the difference between the amount of tax that should, in theory, be paid to HMRC, and what is actually paid. For 2021/22, the gap was at an all-time low of 4.8% (or £35.8 billion), although in... Read more