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Guidance for merged R&D scheme published
Companies claiming tax relief for research and development (R&D) will need to use the new merged scheme for accounting periods starting on 1 April 2024. Guidance on the new scheme has now been published. What are the key changes?
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Have you underclaimed your expenses?
In 2022/23, HMRC sent a nudge letter to taxpayers that included a statement saying that upgrading a boiler wouldn’t be a deductible expense for tax purposes, i.e. as a deduction from rental income. It is now writing to individuals admitting that this was wrong. What action do you need to take?
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HMRC U-turn on helpline closures
Earlier this week, HMRC announced that it would be scaling back its tax helplines, a move that was widely criticised. It has now seemingly reversed the decision. What’s going on?
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Popular helplines to be severely restricted permanently
It's now been confirmed that HMRC staff will be permanently diverted away from the self-assessment helpline meaning more blackout periods. What’s the full story?
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New MTD trial launches soon
HMRC’s Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) pilot has been a disaster. Despite this, it’s pushing businesses and accountants to use it from April 2024. Should you consider signing up?
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Revised guidance causing problems for LLP members
The guidance relating to the salaried member rules where capital contributions are made has been updated. If you are a member of a limited liability partnership (LLP) you could be affected, so what’s going on?
