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Taxpayers Lose Over £1bn due to R&D Tax Errors and Fraud
A lack of resources for monitoring compliance led to a record 341 tax reliefs costing taxpayers £204bn in 2023, with only 25 evaluated for cost-effectiveness in the last eight years. With a budget of just £600,000, the Treasury and HMRC face questions about the value for money offered by these reliefs.
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Tax Software vs Accountant: Which is best for you?
As the tax season approaches in the UK, individuals are faced with the decision of how to best manage their personal tax obligations. Traditionally,...
Year End Accounts: Everything You Need to Know
In the United Kingdom, year-end accounts hold significant importance for limited companies. These accounts serve as comprehensive financial...
The Importance of Accurate Record-Keeping for R&D Tax Credits
In the United Kingdom, Research and Development (R&D) tax credits serve as a valuable incentive for businesses to invest in innovation and drive...
How to File Your Personal Taxes in the UK – A Comprehensive Guide
Whether you're a resident or a non-resident taxpayer, understanding how to fiile your personal taxes is of utmost importance. Learn how to file your...
The Most Common Personal Tax Mistakes to Avoid in the UK
HMRC penalties can range from fixed fines to percentage-based charges, depending on the severity of the mistake. In addition to penalties, you may...
A Complete Guide to Capital Gains Tax for UK Businesses
When you sell an asset (e.g., house), and make profit, you need to pay tax called Capital Gains Tax (CGT). The individuals pay UK capital gains tax...
