Tax investigations net HMRC £13.14bn

HMRC's tax investigations reclaimed just under £13.14 billion in 2018/19, according to its annual report and accounts. The Revenue's actual compliance yield stood at £13.138bn last year, an increase of £2.7bn on the previous year's figure of £10.3bn. Overall, HMRC...

Javid rules out stamp duty shift

Chancellor Sajid Javid has rubbished reports he is planning a stamp duty overhaul in his first Budget this autumn. House buyers in England and Northern Ireland currently pay stamp duty land tax at various percentages on property purchases that cost more than £125,000....

Small employers risk losing the employment allowance

Plans to remove the employment allowance for large employers from April 2020 could have a domino effect on smaller firms. The employment allowance currently provides employers with a reduction of up to £3,000 to their national insurance contributions (NICs) bill. From...

Number of state pension recipients falls by 120,000

The number of people receiving the state pension has fallen by 120,000 year-on-year, following changes to the state pension age. Statistics from the Department for Work and Pensions (DWP) show 13 million people received the state pension in February 2019. It said the...

Retailers call for business rate reform

More than 50 major retailers have signed a letter to Chancellor Sajid Javid, calling for reforms to the business rates. Business rates are charged on most non-domestic properties, based on their rateable value and a multiplier set by the Government. The British Retail...