The House of Commons Library has published 'Tax Statistics: an overview' using research from several resources. The report shows that for 2022/23 UK government revenues were £1,027 billion, equivalent to 40% of GDP, with Income Tax, National Insurance Contributions (NICs) and Value Added Tax (VAT) contributing around three-fifths of all revenues.
SME Tax News
In Bandstream Media and Corporate Communications Limited v HMRC [2024] TC09016, the First Tier Tribunal (FTT) found that an employer could not base its Coronavirus Job Retention Scheme (CJRS) claims on a salary which was increased after 19 March 2020, and in lieu of dividends.
Hello
The ITV drama 'Mr Bates v the Post Office' has been gripping the nation and causing more than a stir in the press. More details will emerge on the Post Office's and Fujitsu's failed accounting and computer systems as the government’s inquiry re-opens. We have every sympathy for victims of the Post Office and its Horizon computer system.
The Welsh government has announced that a statutory registration and licensing scheme for all visitor accommodation in Wales will be introduced.
The Department for Levelling Up, Housing & Communities has opened 'Consultation on timescales for repairs in the social rented sector' on Awaab's Law with cost implications for private landlords.
HMRC's latest One-To-Many letter campaign targets landlords claiming tax relief on high levels of repair costs.
For over twenty years more than 700 sub-postmasters were wrongly prosecuted for fraud by the Post Office. In January 2024 the Government announced a 'mass exoneration' to clear their criminal convictions and agreeing to make an upfront payment of £75,000 in extra compensation.
Happy New Year!
We start the year with last minute tips for Self Assessment and a new Agent Update; noting that the Spring Budget is set for 6 March and that a new condoc considers transparency for land-holding trusts.