Will Truss Tax Cuts Save The Country?

“On 6 September 2022, Liz Truss became the new Prime Minister of the United Kingdom. After Boris Johnson, who has served from 2019 to 2022, now, she will take Britain to a new path of success.” Liz Truss spoke her positive mindset to the people of Britain after getting the position of Prime Minister. She…

The impact of MTD ITSA

Making Tax Digital for Self-Assessment of Income Tax (MTD for ITSA) A new Income Tax Self-Assessment system called Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) will take effect on April 6, 2023. What does MTD for ITSA mean, how will it affect you, and what action will you need to take? We hope…

A Quick Short Guide to HMRC & IR35

A Quick Short Guide to HMRC & IR35  The IR35 remains controversial for many self-employed people, especially after introducing new changes in April 2021. Many contractors are concerned about this issue, but it cannot be easy to understand and follow, so we also understand if this law affects your sanity. Many people may not think…

What to expect when the furlough ends?

The pandemic brought uncertainty and despair to the whole world. As businesses shut down and people had no means of income, it became clear that the government had to intervene to save further economic collapse. In England, Chancellor Rishi Sunak introduced the furlough scheme when the pandemic began. The idea behind the scheme was to…

How to fill the UK tax gap?

On September 16, the HMRC released the figures for the pre=pandemic period of 2019/20. It shows a UK 2bn rise in the estimated tax gap. The reason behind this is the persistent increase in the VAT gap. The annual data evaluates a contrast between the total tax expected to be paid and the amount paid.…