Chancellor Rachel Reeves should use the Autumn Budget to reform the UK’s tax system, says the Institute for Fiscal Studies (IFS). The think tank says this would help Ms Reeves to raise more revenue while limiting the hit to the economy. The IFS warns the Chancellor against raising the levels of existing taxes to bring… Read more…

HMRC has resumed its programme allowing direct recovery of money from debtors’ bank accounts. The Direct Recovery of Debts (DRD) policy, which was paused during the Covid-19 pandemic, has restarted in a ‘test and learn’ phase’, the tax authority has confirmed. DRD targets individuals and businesses who can afford to pay their debts but deliberately… Read more…

There is now less than a year until the UK Government introduces Vaping Products Duty (VPD) and vaping duty stamps (VDS) on 1 October 2026. VPD, a new excise duty, will apply to all vaping liquids (or e-liquids) sold or supplied in the UK, at a flat rate of £2.20 per 10ml and VDS must… Read more…

HMRC has appointed six independent industry specialists to a new Research and Development (R&D) Expert Advisory Panel. The introduction of the panel is one of a number of practical enhancements that the tax authority says will make it easier for UK firms to understand R&D tax relief. R&D tax reliefs are valuable incentives designed to… Read more…

HMRC has opened up a service for landlords and self-employed to apply for exemption from Making Tax Digital (MTD) for Income Tax phase one. From next April, people who are self-employed and landlords, and declare more than £50,000 of gross income in their 2024/25 self assessment tax return, will be legally required to follow the… Read more…

New legislation aimed at tackling rogue tax agents and those pushing tax avoidance schemes won’t catch all of those it is aimed at, warns the Chartered Institute of Taxation (CIOT). Instead the measures could make it harder for some taxpayers to get the advice they need to comply with tax laws, the Institute added. The… Read more…

Over 750,000 18-to-23-year-olds have yet to claim their matured Child Trust Funds, according to HMRC. The tax authority says that the accounts are worth £2,242 each on average. Child Trust Funds are long term, tax-free savings accounts which were set up for children born between 1 September 2002 and 2 January 2011 with an initial… Read more…

HMRC has published the latest issue of the Employer Bulletin. The October issue has information on various topics, including: Making your PAYE Settlement Agreement payment. Guidance for labour supply chains featuring umbrella companies. New Advisory Electric Rate for fully electric company cars. Spotlight 71 – Warning for agency workers and contractors who are moved between… Read more…