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.
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.
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.
Make tax-savvy new year’s resolutions to cut stress and save money
Taxpayers stand to save both money and headaches in 2025 by committing to better tax practices in the year ahead, according to leading audit, tax and business advisory firm Blick Rothenberg.
5.4 million yet to file self-assessment tax returns, warns HMRC
Millions of people across the UK are at risk of penalties after HM Revenue & Customs (HMRC) revealed that 5.4 million taxpayers have yet to submit their self-assessment tax return.
HMRC calls on businesses to come clean about accidental R&D tax overclaims
HMRC launches new disclosure service to tackle accidental R&D tax overclaims, with firms urged to come forward if they overstated relief.
Case closed: HMRC settles £4.9m tax case with Gary Lineker
Gary Lineker and HMRC settle IR35 dispute out of court
Freelancers warned of hefty tax bills as HMRC issues new guidance on managed service companies
HMRC warns freelancers about Managed Service Companies (MSCs), complex tax setups that could lead to hefty tax bills. Learn how new guidance could impact independent workers and why vigilance is crucial.
