by Claire Aston | Nov 10, 2023
The extremely high level of tax relief available to the UK’s oil and gas companies compared to all other businesses has the potential to distort private sector investment, TaxWatch believes. We also question whether this was the policy intention when the Energy...
by Claire Aston | Oct 16, 2023
• £60.5bn estimated UK revenues • £14.8bn estimated UK profits • £2.8bn estimated corporation tax @ 19% • £753m estimated UK corporation tax and digital services tax paid • £2.0bn estimated UK tax avoided In today’s new report, we analyse seven large US-based...
by Sarah Walton | Jul 26, 2023
The Treasury Select Committee (TSC) today published a report1 about the complicated world of tax reliefs. Last year TaxWatch provided written evidence to the Committee on this enquiry and in December last year, TaxWatch’s then acting director, Alex Dunnagan, gave oral...
by Claire Aston | Jul 20, 2023
£1.13bn – revised estimate of error and fraud in 2020-21 (previously £338m) 24.4% – revised rate of error and fraud in SME scheme (previously 5.5%) £1.05bn – estimated error and fraud in 2022-23 HMRC have finally published initial data from their random enquiry...
by Alex Dunnagan | Apr 6, 2023
This piece on research and development tax relief was originally published in the R&D Tax Credit Insider newsletter on LinkedIn. What does the money achieve? R&D tax relief is an important government policy intended to incentivise businesses to incur...
by Alex Dunnagan | Mar 14, 2023
R&D reliefs predicted to cost over £9bn by 2026-27 – by far the largest corporation tax relief Fraud and error in schemes total over £1.1bn in last three years R&D ‘claims farms’ continue to hard sell opportunities to claim refunds on expenditure that often...
