As we edge closer to the 2024-25 fiscal year, the UK’s financial landscape is witnessing a significant uptick in tax revenue, expected to reach 36.5% of national income. According to an Institute for Fiscal Studies report, this nears the historical peak of 37.2% seen in 1948, with projections suggesting a rise to 37.1% by the […]
Navigating the Global Minimum Tax Rate and the UK’s Response to OECD’s Initiatives The digital revolution has not just transformed how businesses operate; it has also reshaped the very foundations of global taxation. In this era where digital enterprises can operate almost anywhere without significant physical presence, the age-old paradigms of tax competition are being […]
If you’re a business operating in the investment world in 2023, keeping Environmental, Social, and Governance (ESG) principles as peripheral considerations is unacceptable. They are core to decision-making, directly influencing institutional investors’ choices and determining a company’s access to capital markets. As sustainability, transparency, and governance become primary determinants of investment strategy, there’s an emerging […]
Since 2020, HMRC – The UK’s tax, payment and customs authority has been lenient on late filing and waiving payment penalties. This is due to the financial difficulties and backlash many business owners and sole traders faced as a by-product of the Covid-19 pandemic. Now that we are officially three years past the announcement of […]
The government has announced significant changes to tax relief schemes in the UK for Research & Development (R&D) from 1 April 2023. Some changes were announced in the 2021 Autumn Budget, while others were more recently announced in the 2022 Autumn Statement. The changes are largely centred around consolidating the SME research and development (R&D) […]
