Spring Budget 2024: measures for business
[ad_1] As promised in the Autumn Statement, the Chancellor used the Spring Budget 2024 to announce a suite of tax relief changes to incentivise and support growth in the UK’s creative sector. Enhanced tax credit for British films The budget also promised a new enhanced audio-visual expenditure credit that will apply to films with a […]
ABAB survey explores tax administration burdens on business
[ad_1] The annual survey by the Administrative Burdens Advisory Board (ABAB) received a record number of responses. Burdens on business remain a significant concern and continue to increase. ABAB has published the findings from its annual Tell ABAB survey for 2022/23. ABAB received almost 7,500 responses, a significant increase on the average of about 3,000. […]
Measures to tackle business rates avoidance and evasion
[ad_1] The consultation focuses on proposed changes to prevent abuse of empty property relief and the “next in use” exemption involving charities and community amateur sports clubs (CASCs). It also asks for evidence relating to other rates avoidance and evasion behaviour including the existence of “rogue agents” that promote such behaviour. Following an announcement at […]
NAO and PAC scrutinise MTD progress and business case
[ad_1] The National Audit Office (NAO) has published a very critical report into HMRC’s progress with making tax digital (MTD). The report reflects many of ICAEW’s concerns and forms the basis of an inquiry by the Public Accounts Committee (PAC). HMRC may have hoped the December 2022 announcement that making tax digital income tax self […]
Business rates modernisation bill introduced to Parliament
[ad_1] ICAEW’s Tax Faculty summarises the key changes contained in the bill. The Non-Domestic Rating Bill was introduced to the House of Commons on 29 March 2023. It gives effect to conclusions reached in the Business Rates Review completed in 2022. The key measures in the bill include: Shortening the business rates revaluation cycle The […]
ICAEW-hosted Labour Business Network analyses Spring Budget
[ad_1] Business rates, SME late payments and net zero were among subjects tackled by Shadow Secretary of State for Business and Industrial Strategy, Jonathan Reynolds MP, in an ICAEW-hosted business Q&A. Labour MP Jonathan Reynolds, Shadow Secretary of State for Business and Industrial Strategy, criticised last week’s Budget for failing to adequately address issues facing […]
Significant changes ahead for business rates
[ad_1] ICAEW’s Tax Faculty explains the technical changes to the business rates system announced alongside the Spring Budget. Following a consultation, technical changes are being introduced to allow for several significant changes to be made to the business rates system. Ratepayers will need to notify the Valuation Office Agency (VOA) within 60 calendar days of […]