by Claire Aston | Oct 24, 2024
£300 million tax lost to non compliance by UK resident individuals on offshore accounts in 2018-19 This figure appears to be a gross underestimate, definitely excluding any assets held through companies, and the treatment of assets within trusts isn’t clear...
by Claire Aston | Sep 27, 2024
Yesterday HMRC published its annual statistics on the tax relief for Research & Development (R&D) in the 2022-23 tax year. The main findings were: A fall in the number of claims made, down 21% to 65,690. Most of the fall was concentrated in the SME scheme,...
by Claire Aston | Sep 3, 2024
£2.2bn of tax relief paid to creative industry firms, half claimed by High End television productions in 2022-23. Claims up from £1.9bn the year before. Huge growth in High End television claim amounts, which have more than doubled in 3 years. Claims exceeding £2m per...
by Claire Aston | Jun 20, 2024
Nearly £40bn of tax revenues go uncollected in 2022-23 – £4bn more than prior year Non-compliance estimated at 4.8% of all tax owed. 2021-22’s percentage has been revised up from 4.8% to 5.2% Major reasons for the jump are: Behaviours: Higher non-payment/tax debt, now...
by Claire Aston | Jun 14, 2024
At the end of the week of the political party manifestos for next month’s UK General Election, the TaxWatch team have been looking through the various pledges concerning tax from a compliance and administration lens and summarise our thoughts below. Labour Party All...
