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The Association of Taxation Technicians (ATT) has warned that Scots taxpayers could face further problems when submitting tax returns as a result of the continued divergence in income tax rates. Issues with the software used by HMRC to calculate the correct amount of tax owed are likely to be exacer...
NFU Mutual has warned that married couples and civil partners in Scotland risk losing out on the marriage tax allowance as Scottish income tax rates diverge further from those in the rest of the UK. "From April we could see cases where people in the rest of the UK with earnings up to £50,000 receiv...
The SNP government's refusal to close the growing income tax gap between Scotland and England will see workers north of the border put off applying for promotions, the Scottish Fiscal Commission (SFC) has warned. The SFC said people may end up taking home as little as 30p in the pound of any salary...
Derek Mackay has said he will not pass on a tax break for higher earners that was announced by the chancellor in his UK budget. Scotland's finance secretary said "now is not the time" to cut taxes for higher rate tax payers as he unveiled his Scottish budget. It means the gap between how much higher...
The richest 1% are experiencing a higher rate of inflation when they buy luxury items, analysis by Coutts has found. The bank’s "luxury basket" of high-end goods and services including opera tickets, school fees and oysters, shows that prices rose by 5.9% over the past year. This was more than twi...
Annual research by Bacs Payment Schemes shows that small businesses in the UK face a bill of £6.7bn to collect money they are owed by other companies, up from £2.6bn in 2017. The cost, based on staff time and interest on borrowing, comes to an average of £9,000 for each firm. The report showed th...
Businesses have been warned they face unlimited fines if they ignore a new law aimed at tackling financial crime and tax evasion. The Criminal Finances Act, which came into force last year, makes companies liable for tax evasion offences committed by anyone representing or associated with them. Alth...
The life insurer Royal London has warned that hundreds of thousands more low-paid workers could be caught out by an anomaly that means it costs them more to save into their work pension pots. Around 1.22m workers who earn enough to be auto-enrolled into a pension by their employer but not enough to...
Royal London has reported that tens of thousands of women have missed out on national insurance credits by failing to register for child benefit because their incomes are too high. Many parents are unaware that simply registering allows a stay-at-home parent to earn national insurance credits for ye...
Less than a third of people aged between 25 and 44 want to pay more tax for better public services, according to a study by the RSA....
Anyone buying a new home off-plan could be faced with a tax bill for tens of thousands of pounds following a court ruling this week. When Desmond Higgins sold his two-bedroom flat in the former St Pancras Station Hotel, London, HMRC handed him a CGT bill of £61,383, which included the gain made bet...
Nicola Sturgeon has refused to rule out income tax rises in next week's Holyrood Budget. At First Minister's Questions, Scottish Tory interim leader Jackson Carlaw asked Ms Sturgeon if she'd commit to no further increase in Scottish income tax. The First Minister declined to do so but accused the To...
