The number of individuals participating in the UK’s ‘hidden economy’ is increasing according to recent research. A surge in additional income streams, from moonlighting to online trading, has led to millions of taxpayers failing to declare additional earnings to HM … Continue reading
HMRC sets its sights on SMEs over UK tax gap
The tax gap in the UK – the difference between the amount of tax owed and the amount that has been paid – remains wider than anticipated due to SMEs, according to HM Revenue & Customs (HMRC). The tax authority’s … Continue reading
Inflation and increased interest rates – What does it mean for businesses?
Office for National Statistics (ONS) data revealed that the Consumer Price Index (CPI) – the official measure of inflation – only fell to 8.7 per cent in the 12 months to May 2023. While the rate of inflation is not … Continue reading
The ins and outs of pre-notification of R&D claims
The UK Government has long encouraged businesses to invest in Research & Development (R&D) projects, believing it to be at the forefront of economic growth. R&D tax reliefs are, therefore, lucrative and aimed at both Small and Medium Sized Enterprises … Continue reading
Constantly asked for pay rises? Here is what you need to know about pay in the UK
As an employer, you will likely face the delicate situation of employees asking for pay rises. With the cost-of-living crisis and rise in inflation, these requests will have become more frequent as people look to keep up with spiralling living … Continue reading
