Tax News

What you need to know about the High-Income Child Benefit charge and the upcoming changes


The High-Income Child Benefit Charge (HICBC) is a tax that affects households where at least one person with parental responsibility ...

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£56 million overpaid in pension tax


In the second quarter of 2023, overpayments on pension tax in the UK reached £56 million. This was an increase ...

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New R&D supplementary information form in effect


As of 8 August 2023, all Research and Development (R&D) Tax Credit claims require the submission of an online Additional ...

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HMRC sets its sights on SMEs over UK tax gap


The tax gap in the UK – the difference between the amount of tax owed and the amount that has ...

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The hidden economy: What income should you declare?


The number of individuals participating in the UK’s ‘hidden economy’ is increasing according to recent research. A surge in additional ...

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Car vs Van – Tax treatment of electric vehicles


There have been several important tax decisions previously regarding the difference between vans and cars, but how do the different ...

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Roadside charging – How to account for credit card payments


With a growing number of company car owners using electric vehicles, many are deciding or being permitted to use company ...

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Late interest penalties hit 1.4 million taxpayers – and it could get worse


The 2020/21 tax year saw 1.4 million people charged interest on overdue tax payments – a 15 per cent increase ...

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Trivial benefits in kind and the advantages they give to employers


It is important for employees to feel valued in the workplace. A lot of the time, it is the little ...

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