The UK’s new plastic packaging tax, which comes into force on 1 April 2022, is not just for manufacturers of plastic. Time is running out to prepare, so business owners need to be ready for its considerable record keeping requirements.
The UK’s increasingly complex tax regime will be in the spotlight after Budget day as the devolved administrations in Scotland, Wales and Northern Ireland consider the implications of Westminster’s spending proposals for them.
With just one week to go until Chancellor of the Exchequer Rishi Sunak delivers his first Budget on 27 October 2021, we publish our predictions for the tax changes which seem certain, those which the Chancellor might well announce and those which might just make it onto his agenda.
How can UK biotech hubs compete with their global equivalents? Graham Bond and Laragh Jeanroy, Life Sciences sector heads, argue the case for a change to the short-term funding approach for UK bio-techs.
The triumphant return of James Bond to cinema certainly indicates he might. No Time to Die has collected 5-star reviews and a colossal £25.9m opening weekend box-office per Comscore. This is against a background of attendance numbers at UK cinemas rising on a month-by-month basis towards pre-pandemic levels.
The point at which a taxpayer must pay the high-income child benefit charge has not increased since it was introduced over eight years ago. The policy to withdraw the benefit from high earners has become eroded, with basic rate taxpayers now also being caught by this stealth tax.
HMRC has launched a new online service to allow taxpayers to check when they can expect a reply from them, with some worrying timescales. As taxpayers face hefty penalties for late submissions, is it a case of one rule for HMRC and another for the taxpayer?
The adoption of Bitcoin as legal tender in El Salvador could pave the way for substantial capital gains tax savings for UK cryptocurrency investors. When withdrawals are made by individuals from a foreign currency bank account, a little-known tax rule exists that can prevent a capital gains tax liability from arising. We explore the rules and whether UK Bitcoin investors could benefit.
Having believed they’d secured a firm payment plan with HMRC to clear their Covid VAT arrears by monthly direct debits running into 2022, businesses who make a VAT refund claim in the meantime may get a nasty surprise.