The Government has called for a comprehensive review of the capital gains tax system. Chancellor Rishi Sunak has commissioned the Office for Tax Simplification (OTS) to review how asset sales are taxed. Capital gains tax applies on the sales of…
The UK’s economy experienced the largest monthly contraction on record in April 2020, shrinking by 20.4%. The sharp fall in GDP came as the UK spent its first full month in lockdown to try and halt the spread of COVID…
Bodies representing UK businesses have described their relief after the job retention scheme was extended until 31 October. Chancellor Rishi Sunak said the Government will continue to pay the wages of workers on leave because of coronavirus. Furloughed employees, therefore…
VAT rules for food and drink in the UK are “overly complex” and in need of reform, the Association of Taxation Technicians (ATT) has claimed. Chancellor Rishi Sunak used his Spring Budget to scrap the so-called ‘tampon tax’ when the Brexit…
The Government has delayed extending the off-payroll working rules to the private sector, as the UK fights to contain the coronavirus pandemic. Hot on the heels of announcing a £350 billion support package for struggling businesses, the Treasury pulled the…