HMRC has announced a reduction in the interest charged on overdue tax payments, following the Bank of England’s recent decision to cut the base rate from 4.75% to 4.5%. From 17th February, taxpayers with outstanding debts will see the interest rate on late payments drop from 7.25% to 7%. This will offer some relief to […]
Breadcrumb Trail Links Finance Investor News The new entity will be seeded with $2 billion to invest in style of sovereign wealth funds Get the latest from Barbara Shecter straight to your inbox Sign Up Published Jan 29, 2025 • 3 minute read Alberta Premier Danielle Smith, with Finance Minister Nate Horner, speaks at a […]
Companies that rely heavily on artificial intelligence (AI) to prepare their Research and Development (R&D) tax claims could find their claims rejected by HMRC if the process lacks human oversight. That is the warning from Blick Rothenberg, a leading audit, tax, and business advisory firm. Ele Theochari, a Partner and R&D specialist at the firm, […]
Article content Former Bank of Canada governor Mark Carney’s decision to throw his hat in the ring in the race to become leader of the federal Liberal party has led to a shakeup at the top of Brookfield Asset Management. Article content In a statement Thursday afternoon, Brookfield said chief executive Bruce Flatt would take […]
The new year is an excellent opportunity for businesses to review their finances and plan effectively for the months ahead. With the annual increases to the national living and minimum wage and other statutory payments set to take effect in April 2025, its essential to prepare for these changes in advance. National Living and Minimum […]
HM Revenue & Customs is ramping up its scrutiny of “side hustle” earnings, requiring online platforms such as eBay, Vinted and Airbnb to submit information on users’ incomes for 2024 by the end of this month. However, concerns have been raised that the discrepancy between the UK tax year (April to April) and the OECD’s […]
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. Robert Salter, a Director at the firm, notes: “Most people make personal resolutions about health and lifestyle, but your financial health is equally important—and […]
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. With the 31 January deadline fast approaching, HMRC has urged anyone who has not yet filed to do so immediately to avoid hefty fines. Tax […]
HM Revenue & Customs (HMRC) has rolled out a new disclosure service for companies that have inadvertently overclaimed research and development (R&D) tax relief and failed to amend their returns. The move underscores the government’s intensified crackdown on misuse of the scheme, which reportedly cost the exchequer over £1 billion in missing revenues. The initiative […]
HMRC has confirmed the settlement of its high-profile IR35 tax case with Gary Lineker, ending a long-running dispute over a £4.9 million tax liability tied to his presenting work with the BBC and BT Sport. The case, initially decided in Lineker’s favour by the First-tier Tribunal (FTT), was set for an Upper Tribunal hearing after […]