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Scottish Budget sets the tone for further income tax divergence from the UK
16 Dec 2022Scotland's interim Finance Secretary John Swinney published the Scottish Government’s draft Budget for 2022-23 on Thursday, setting out plans to increase taxes on higher earners and signalling further divergence between the Scottish and UK income tax regimes.
Read more »Digital services tax a success, say officials, but it should be gone by 2025
16 Dec 2022Senior Treasury and HMRC officials have told the Public Accounts Committee that the digital services tax has been a success, which raised more than forecast, and that this was partly down to having a very small group of taxpayers who could be dealt with on a ‘one to one’ basis. However, they assured the MPs that it is still on track to be replaced by OECD-led reforms by 2025.
Read more »No changes to income tax in Wales’ draft Budget for 2023-24
14 Dec 2022The Welsh Government has published its draft budget for 2023-24 with no changes to the Welsh rate of income tax proposed.
Read more »R&D changes will target support better, says tax minister
9 Dec 2022Financial Secretary Victoria Atkins and HMRC doubled down on the Autumn Statement 2022 changes to R&D, suggesting there is little to worry about in the extra administration, that changes to rates will increase value for money and that the tax authority will do more to target ‘spurious’ claims from rogue agents. Atkins said that she is still ‘reading my way into’ regulation of agents and not yet ready to give an opinion about it.
Read more »Autumn Finance Bill gets backing of MPs, cutting SME R&D relief
2 Dec 2022MPs have approved unamended a 12 clause Finance Bill containing changes to rates and thresholds announced in the Autumn Statement, including expansion of the energy profits levy, cuts to small business R&D relief, and reductions in dividend and capital gains allowances.
Read more »Conservative peers at odds over tax hikes
2 Dec 2022Should this Conservative Government be raising taxes? This was the question hotly debated during the House of Lords debate on the Autumn Statement, with Conservative peers arguing strongly on both sides.
Read more »LIVEBLOG: Treasury Committee questions HMRC
30 Nov 2022Liveblog on a House of Commons Treasury Committee hearing with HMRC bosses on 30 November 2022, covering HMRC service levels, the tax gap and Making Tax Digital, among other topics. The hearing began at 2.15pm and concluded at 5.21pm, with some breaks for parliamentary votes.
Read more »Autumn Statement resolutions passed without enthusiasm by MPs
25 Nov 2022MPs have passed nine Autumn Statement resolutions following two days of debate. But outside Treasury ministers there was little enthusiasm for the measures being debated.
Read more »Treasury Committee probes Autumn Statement tax announcements
25 Nov 2022The House of Commons Treasury Committee, under its new chair Harriett Baldwin, has held a series of hearings into the Autumn 2022 fiscal events, covering topics including the impact of freezing the income tax threshold and what effect the various tax increases will have on growth.
Read more »Could covid support schemes have been better targeted, MPs ask
23 Nov 2022MPs on the Public Accounts Committee (PAC) have questioned HMRC and Treasury officials about the implementation of the furlough and self-employment support schemes. HMRC told them MTD for Income Tax is on schedule and getting more regular information about people’s turnover and expenses which could help include previously excluded groups in any future support scheme.
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