Call for evidence: VAT energy saving materials relief
[ad_1] The UK government is seeking views on whether the VAT zero rate for the installation of energy saving materials should be extended to additional technologies and to installations in charitable premises. As part of Spring Budget 2023, the government has launched a call for evidence seeking views on reform of the VAT relief for […]
Tax Faculty responds to HMRC draft guidance on R&D tax relief
[ad_1] ICAEW’s Tax Faculty identifies a number of aspects and scenarios where considerable uncertainty remains in its response to HMRC’s draft R&D guidance. Changes to the research and development (R&D) tax relief rules will be introduced from 1 April 2023. HMRC published draft guidance on some of these changes on 22 December 2022. It includes […]
Can you still claim tax relief for working from home?
[ad_1] Millions of workers were able to claim tax relief on expenses they incurred from working from home during the Covid-19 pandemic – but the rules have changed since then. Some people will still be eligible to make a claim for 2022-23 and beyond, but only in certain circumstances. If you were forced to work […]
HMT consults on single R&D tax relief scheme
[ad_1] An eight-week consultation has been launched following the Autumn Statement announcement of a simplified, single RDEC-like scheme. On 13 January, HM Treasury launched a consultation on the design of a potential single research and development (R&D) scheme. The single scheme would be based on the current R&D expenditure credit (RDEC) scheme, which is currently […]
HMRC relief statistics: costs in line with tax receipts
[ad_1] The annual release of tax relief statistics, published on 12 January 2023, shows a significant rise in the cost of some reliefs. However, overall, the percentage increase in cost between 2020/21 and 2021/22 was less than the increase in tax receipts over the same period. The report shows that the total cost of non-structural […]
Working from home tax relief claims for 2022/23
[ad_1] ICAEW’s Tax Faculty highlights that employees should check whether they are eligible to make a claim. Two relaxations were introduced as a result of the COVID-19 pandemic lockdowns to allow millions of employees to claim tax relief for the costs of working from home during the 2020/21 and 2021/22 tax years. These were: the […]