Tackling the UK’s productivity issues was a key theme in the Spring Budget, in which the chancellor announced several measures intended to inspire the ‘economically inactive’ into work and ensure that highly skilled individuals, such as NHS clinicians, are not disincentivised from remaining or progressing in the workforce. These measures included increased investment in childcare provisions and early years support, but whilst these measures sounded very positive when announced, the strict free childcare criteria may result in further disincentivises for higher earners.

3 minutes

As we approach the 2022/23 tax year end, taxpayers will be considering what actions they can take to mitigate their tax exposure. Investing in enterprise investment scheme (EIS) shares remains a popular option for those looking to make investments that offer income tax relief, with around £1.7 billion of investment raised in 2020/21 from EIS investors. However, claiming the relief without an EIS3 certificate can be costly as demonstrated in the first-tier tribunal case of HMRC vs Dr Rizvi.

4 minutes

The budget may contain changes to the pension system to try to encourage early retirees to return to the workforce. The Joseph Rowntree Foundation has published data showing this is unlikely to succeed and instead the long-term sick and disabled should be helped. Could this be a problem that does not require increased tax complexity to solve it?

3 minutes

When HMRC issues an assessment which is disputed, there is a 30-day window to submit an appeal. It is important however, that contemporaneous evidence like proof of postage is retained to support this action or it could be all be for nothing, as in the case of Cenkci vs HMRC.

3 minutes