New income tax statistics from HMRC appear to be good news, but the numbers are not what they seem.
Forrester Boyd News
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9th August 2023
Abolishing the pensions lifetime allowance
Although the lifetime allowance was effectively abolished from April 2023 as the lifetime allowance charge was removed, it has been retained on statute for a year to allow time for...
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9th August 2023
Intestacy entitlement increased
If an English or Welsh domiciled person dies without leaving a will, the amount that a surviving spouse or civil partner can inherit as a statutory legacy under the intestacy rules...
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9th August 2023 - Agriculture
Agri-tax reliefs set for restrictions
Draft legislation has been published that will, from 6 April 2024, restrict the geographical scope of agricultural relief and woodlands relief to property in the UK.
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9th August 2023
New PAYE process for High Income Child Benefit Charge
One of the many criticisms aimed at the High Income Child Benefit Charge (HICBC) is that anyone caught by the charge needs to submit a self-assessment tax return even if all of the...
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21st July 2023
More trainee exam success for Forrester Boyd
Forrester Boyd’s James Dierking celebrates trainee exam success and becomes a fully-qualified Accountant.
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12th July 2023
Wealth tax, take two?
Hard on the heels of the Sunday Times Rich List, will new proposals for a wealth tax gain any traction?
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12th July 2023
Tax gap at all-time low
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% (or ...
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12th July 2023
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 ...
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12th July 2023
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 wea...
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