The UK government is reviewing its £8bn R&D tax credit scheme, proposing mandatory pre-approval to curb fraud and improve access, following £4.1bn in losses to error and abuse.
Category: Money & Tax for the Self-Employed
Everything you need to manage money and tax as a freelancer or sole trader – from self-assessment to invoicing and cashflow.
Can You Have a Joint ISA Account? Everything You Need to Know
Individual Savings Accounts (ISAs) are a popular way to save and invest in the UK due to their tax advantages.
Inheritance tax receipts surge to £7 billion in just ten months, says HMRC
HMRC inheritance tax receipts hit £7bn in just ten months, with record revenues expected by year-end.
Rise in pre-nup and post-nup agreements for farming families following budget reforms
Farming families are increasingly turning to pre-nup and post-nup agreements to protect their assets following inheritance tax reforms. Discover how legal planning can safeguard farmland and family businesses.
Landmark inheritance tax ruling could save families six-figure sums
A landmark tribunal ruling could save UK families six-figure sums in inheritance tax by overturning HMRC’s challenge to historic ‘home loan’ tax schemes. Find out what it means for estates and future tax planning.
HMRC accused of misusing powers to “correct” R&D tax relief claims
HMRC has quadrupled the number of R&D tax relief claims it has “corrected” without opening formal enquiries, sparking concerns that legitimate businesses are being unfairly targeted.
Businesses eager to invest but cautious ahead of Spring Statement
UK SMEs are eager to invest but are delaying major decisions ahead of the Spring Statement. Business leaders call for stability as economic uncertainty continues to impact confidence.
Former Liverpool star Phil Thompson loses £300,000 IR35 tax appeal
Former Liverpool footballer and Sky Sports pundit Phil Thompson has lost his IR35 appeal, leaving him with a £300,000 tax bill. Find out why HMRC ruled him a ‘disguised employee’ and what it means for freelancers.
SME lending review launched amid stubbornly high debt costs
The UK government has initiated a review into SME lending, citing persistently elevated borrowing costs and a sharp fall in net lending as key concerns for Britain’s economic growth.
UK SMEs eye £4bn NI savings despite looming tax hike
Many UK SMEs face a steep rise in National Insurance from 2025/26, yet salary sacrifice schemes could save them over £4bn annually.
Treasury lays out multimillion-pound whistleblower rewards to tackle tax fraud
The Treasury has unveiled plans to reward insiders who blow the whistle on tax avoidance or fraud, offering payments of up to 25 per cent of the extra revenue raised.
HMRC raises threshold for self-assessment to £3,000
HM Revenue & Customs (HMRC) is poised to lift the threshold for filing self-assessment tax returns to £3,000, a move expected to spare an estimated 300,000 people the burden of completing annual returns.
HMRC lowers late payment interest following Bank of England rate cut
HMRC is cutting late payment interest to 7% following the Bank of England’s rate cut—but taxpayers still face double the interest rate on overdue tax bills compared to refunds.
Bryan Robson secures partial victory in IR35 dispute with HMRC
Ex-England captain Bryan Robson part-wins IR35 tax case vs HMRC over his Man Utd ambassador role, fuelling debate on off-payroll rules and the ‘IR35 Decade Club.’
Businesses using AI to file R&D tax claims risk HMRC rejection
Businesses using AI to file R&D tax claims risk HMRC rejection if there’s no human oversight, warn experts. Quality checks and adviser input remain crucial.
