SME Tax News

Hello

This week questions have been asked as to whether some of the Conservative leadership candidates' plans for tax cuts are viable. Others are asking how can tax help us reach Net Zero? What do you think about crypto-assets: uncanny investment opportunities or no better than a Ponzi Scheme?

The Climate Change Committee (CCC) has published ‘Progress in reducing emissions 2022, Report to Parliament’. In part, it calls on HM Treasury to review the tax system as to how it can best support the transition to Net Zero.

There is evidence that wording on Inheritance Tax (IHT) claim form IHT436 has lead to some executors underclaiming relief for the transfer any unused residence nil rate band (RNRB) on IHT returns and HMRC is not picking up the error.

The Confederation of British Industry (CBI) has warned candidates for the Conservative leadership to develop serious, credible and bold plans for growth and that,“Tax changes must trigger business investment, not fuel inflation”.

The Treasury Select Committee has launched an inquiry into the Crypto-Asset industry which will explore the role, opportunities and risks that crypto-assets offer consumers and businesses.

The Office for Budget Responsibility (OBR) has published a new report, ‘Fiscal risks and sustainability’ which highlights current and potential pressures on the UK public finances, including how this may affect taxes.

 

Enjoying the Practical Tax content on www.rossmartin.co.uk? 

Sign up now to receive a unique FREE Tax Planning Tips and Advice Guide & our FREE Newsletter.

.Squirrel ad