The tax gap is the difference between the amount of tax that should, in theory, be paid to HMRC, and what is actually paid. For 2021/22, the gap was at an all-time low of 4.8%…
Businesses failing to pay minimum wage
Just over 200 businesses – including some of the country’s best-known retailers – have failed to pay the minimum wage and will have to repay workers and face penalties of up to £7 million. The…
HMRC offers options on undeclared wealth
HMRC is offering taxpayers named in the leaked Pandora Papers a chance to correct their tax affairs. The October 2021 leak involved almost 12 million documents revealing hidden wealth and tax avoidance. The papers revealed…
Let’s talk about the National insurance gap extension
The normal time limit for a person to fill gaps in their national insurance (NI) record is six years, but transitional arrangements allow gaps to be filled back to 2006/07. The deadline for making such…
Action to counter increase in UK wide fraudulent activity
The government has announced a new initiative to counter fraudulent activity, particularly in the financial sector. You might not be surprised to learn that fraud is now the most common crime in England and Wales,…
Tax and your home solar panel system
With continuing high electricity prices, now could be a very good time to install solar panels at your property. Unless a solar battery is part of the system, it makes sense to sell excess electricity…