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Government Announcements
Tax gap hits £36bn in 2021/22
Small businesses responsible for half the tax gap.
HMRC “underestimated” the complexity of MTD
Issues with migrating data delayed the scheme.
Insolvencies increase by 51% in May
2,552 companies registered as insolvent last month.
Charities gain more financial freedom
Charities Act changes give trustees greater flexibility.
Making Tax Digital said to cost £1.3bn
The original 2020 launch date was “unviable”.
Government may scrap oil and gas windfall tax
Levy will remain in place unless prices drop.
Self-assessment helpline to close for three months
HMRC will focus resources on other ‘problem calls’.
Employee share schemes under review
The Government aims to simplify the system.
Self-assessment threshold increases to £150,000
Fewer PAYE taxpayers will submit returns in 2023/24.
HMRC plans to simplify construction industry scheme
The scheme may be causing “unnecessary” administrative burdens.
VAT registration helpline set to close
HMRC will prioritise registration applications.
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