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MSPs approve new Scottish tax system


An "historic" overhaul of the income tax system was passed by MSPs last night in a move that will see major differences between rates paid in Scotland and the rest of the UK. Finance Secretary Derek Mackay said the £200m raised by the tax changes will help fight austerity and provide vital cash for...

Holyrood to back higher taxes for middle-earning Scots


The Scottish Parliament will today formally back an overhaul of the tax system which will leave many Scots paying more income tax than workers in other parts of the UK on a similar salary. The Scottish Government will levy a new intermediate rate of 21p on income between £24,000 and £43,430 while...

Tax compliance process weighing down SMEs


The Federation of Small Businesses is calling for simplification of the tax compliance process after research revealed that the average business owner spends £5,000 and three working weeks every year on tax compliance. Almost half of respondents to a survey of more than 1,000 companies said that bu...

Third of tax appeals online


Almost a third of tax appeals are now being submitted online, with more than 2,000 taxpayers using online appeals since they went live in June. The Ministry of Justice said people seeking to challenge their tax bill no longer have to fill in and post forms, which officials say has drastically reduce...

Small firms favour accountants over lawyers


A report from the Legal Services Board reveals that small firms are more likely to consult an accountant rather than a lawyer when seeking advice, with under a tenth having a legal firm on a retainer or employing one in-house. The proportion of small businesses that described using a lawyer as ‘co...

BBC stars facing big tax bills


BBC presenters could be hit with bills for thousands of pounds in backdated tax after HMRC won a key tribunal ruling against a former regional news presenter. Christa Ackroyd was paid as a freelancer through a personal services company at the BBC's request, but she must now pay back £419,151 after...

SMEs lack time for tax forms


Completing tax forms and legislation documents is the task SMEs are most likely to put off, according to research from Hampshire Trust Bank. Opening a business savings account was the second most popular answer with 19% of the vote, while marketing to new clients came third (18%)....

Tax benefits of tying the knot


Research by Hargreaves Lansdown has found couples who take full advantage of all their tax breaks, including IHT, could be up to £183,714 better off on average if married for 30 years. The figure rises to £190,964 for couples who stay married over 50 years....

HMRC pursues users of disguised remuneration schemes


Up to 100,000 people face financial penalties as a result of having used Employee Benefit Trusts to avoid paying all or some of their income tax. So-called “disguised remuneration” schemes were generally accepted to be legal in the early 2000s, and operated on the basis that employees' wages wer...

HMRC payroll investigations raise £800m


HMRC collected £819m in additional tax through payroll investigations last year - a 16% increase on the additional tax generated in 2015/16. Investigations into the payrolls of large businesses specifically generated £503m in additional tax in 2016/17, up 31% from £383m the previous year, as the...

Tax and pension hopes raised for 3m unmarried couples


Cohabiting couples could be in line for substantial gains if they are allowed to enter a civil partnership. A civil partnerships Bill, which is progressing through parliament, would if passed allow couples to apply for billions of pounds worth of tax and benefit payments. Currently, heterosexual cou...

Government says it is cracking down on unpaid internships


HMRC has launched a crackdown on unpaid internships amid fears companies are failing to change their practices. The government said that over the last three months it had warned over 500 companies and set up enforcement teams to tackle repeat offenders. HMRC is expected to target sectors such as med...



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