R&D tax credits scheme provides tax deductions for savvy businesses
Under the R&D tax credit scheme, enhanced tax deductions are provided for certain expenditure on research and development (R&D) projects.Continue reading
Author Archive: Muhammad Zia
Bank of England governor warns of reform fatigue
The Bank of England governor, Mark Carney, has said there is no room for complacency on the strength of the global banking system.Continue reading
HMRC to end £100 fines for late self-assessment tax returns
HM Revenue & Customs (HMRC) wants to change its rules on tax return penalties to ensure the system is fairer, meaning that hundreds of thousands of Britons who fail to complete the self-assessment form on time could escape a penalty.Continue reading
HMRC launches tax cheat crime map
As part of its recent clampdown on tax avoidance, HM Revenue and Customs (HMRC) has launched an online map showing the location of UK tax cheats along with their crime and sentence.Continue reading
UK spending squeeze to be bigger than ever – but there is good news too
The worst of Britain’s spending cuts are still to come, a new study has warned.Continue reading
Services sector sees strong start to the year
With restaurants, bars, hotels, IT, transport and hairdressers forming part of the services sector, which accounts for approximately 75 per cent of the UK economy, news that January marked the 25th consecutive month of growth in the sector has been welcomed.Continue reading
FT analysis shows the varying degrees of success parties have had in cracking down on tax dodgers
This Government has done more than Labour to crack down on individual tax dodgers but its reforms have actually raised much less income, according to a Financial Times analysis.Continue reading
HMRC opens consultation on penalties for serial tax avoiders
HMRC has published a new consultation – “Strengthening Sanctions for Tax Avoidance” – with proposals for how to tackle serial tax avoiders and the schemes they seek to benefit from.Continue reading
British aerospace industry calls for tax allowances
The UK’s aerospace industry has called for the main political parties to increase investment and provide other tax allowances to help the sector grow.Continue reading
The hidden tax costs for smaller businesses
UK businesses are paying up to £10bn in hidden tax costs a year with small and medium-sized enterprises (SMEs) bearing the majority of the burden.Continue reading
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