According to newly released data from HMRC, a substantial amount of £1.13 billion in research and development (R&D) tax relief was mistakenly awarded in 2020-21 due to errors and fraud. This figure accounts for 16.7% of all R&D tax relief…

The government is seeking input through consultations on ways to utilize the tax system to encourage employers in bolstering their employees' access to occupational health services. Simultaneously, the Department for Work and Pensions is conducting a separate consultation on the…

HMRC (Her Majesty's Revenue and Customs) is currently conducting a trial of a specialized task force aimed at processing post items that are over 12 months old. The primary objective of this team is to significantly reduce the backlog of…

The removal of the pension lifetime allowance in this year's Budget has had a profound impact on pension saving and retirement planning for individuals in higher tax brackets, according to recent findings by Investec Wealth & Investment, a wealth management…

The House of Lords has expressed their support for amending the Economic Crime and Corporate Transparency Bill by widening the scope of the proposed failure to prevent fraud offense. The amendments approved by the House include the extension of the…

Following the recent inquiry conducted by the Public Accounts Committee (PAC) on the implementation of making tax digital (MTD), the Chartered Institute of Taxation (CIOT) shares the perspective that digitalization holds the potential to enhance the efficiency and effectiveness of…

The benefits of expanding tax relief for the installation of energy-saving materials (ESMs) in buildings may not be fully realised unless the government puts in place special rules enabling relief to be granted even where the installation is part of…

An estimated 8.8% of the UK adult population were identified as participating in the hidden economy, according to research from HMRC. This figure has almost doubled since 2015-16 when the percentage was 4.9% Another 4.8% of the population were identified as being…