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HMRC in £4.5bn compliance crackdown

More staff and funding for tax compliance and investigations teams.  HMRC has been given the budget to increase compliance and investigation team headcounts by 1,300, with an expectation that they will raise an additional £4.5bn in tax by 2025, including measures such...

Changes to protect tax in insolvency

HMRC moves up creditor hierarchy. Despite concerns raised from many businesses, legislation will be introduced in Finance Bill 2020 to amend the relevant section of the Insolvency Act, Bankruptcy (Scotland) Act 2016 and the Insolvency (Northern Ireland) Order to move...

Budget: Pension reforms at a glance

Tapered annual allowance threshold to be raised by £90,000.  To support the delivery of public services, particularly in the NHS, the Chancellor has unveiled plans as of next month to raise the point at which tapering of the annual allowance kicks in by £90,000. This...