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 Simon Watkins | Aug 14, 2024
HMRC accounts qualified again due to persistent large scale error and fraud in SME R&D scheme Levels of error and fraud falling, but remain a material issue for HMRC HMRC needs to address compliance without disincentivising legitimate claims Tax Reliefs need to...
by Simon Watkins | Jul 1, 2024
Mining the tax gap to pay for additional public spending pledges has become the norm during election campaigns for the UK’s major parties. This election cycle is proving to be no different. Both Labour and Conservatives have cited around £6 billion as aspirational...
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...