HMRC loses £3.6m company car tax appeal – The Upper Tribunal has allowed a joint appeal by two major construction companies for national insurance contributions (NICs) relief totalling £3.6m for the treatment of company car allowances
Charities paid £1.6bn in Gift Aid on donations from basic rate taxpayers in 2022-23, up 19% from £1.34bn. Hike in HMRC investigation activity in 2022 meant some distortion to figs as large number of claims on hold for extra risk assessment
Electric vehicle VAT cuts would not be passed on – Despite the high profile campaigns to scrap VAT on sunscreen and public electric vehicle charging, the changes would be an expensive waste of money and would not benefit consumers
Business mileage rate frozen at 45p since 2011 – calculations by RAC Foundation suggest people who drive own cars for work should be entitled to about 63p per mile tax free if figure had been reviewed in line with rising motoring costs
Over four million UK adults have used AI at work – More than four million people in the UK have used generative artificial intelligence (AI) at work, despite the risks in accuracy and many not informing their employers
HMRC will only be paid £4m of tax owed by Prezzo restaurants – cram down decision in High Court means restaurant chain can restructure but will not be liable for all debts. Court docs show Prezzo owes HMRC a total of £11.8m for PAYE, VAT
Q&A: corporation #tax straddling periods as rate rises to 25% – where accounting period straddles two financial years in which different CT rates or bands apply it is split into separate notional accounting periods
Capital Accountants was established in 1993. We are a firm of financial accountants based in North West London although we serve clients from all around the UK and as far places as Germany, USA and the Middle East.