Budget

Tax | Pension tax changes: what you need to know

A surprise announcement in the Budget to abolish the lifetime allowance for pensions also gave some respite to users of pension drawdown and the annual allowance, explains Zigurds Kronbergs FCA FCCA, senior tax writer, Croner-i

27 Mar 2023

Tax

Personal tax

Tax planning

Budget

Tax | Finance Bill sets out 2023 key tax changes

The government has published a draft of Finance Bill 2023 with details of tax changes due to come into effect from April including a 6% hike in corporation tax, end of lifetime allowance and full expensing rules

23 Mar 2023

Tax | Budget 2023: road tax to increase by 13.4%

Road tax for car drivers is set to rise by 13.4% in line with the retail price index (RPI) from 1 April 2023

17 Mar 2023

Tax

Budget

Politics

Tax | Higher rate taxpayers £1k worse off after Budget

Taxpayers will feel ‘continuing pain’ in 2023 as the Budget did little to alleviate the cost of living crisis

16 Mar 2023

Tax | Budget 2023: capital gains tax avoidance loophole closed

The government will tighten up the rules when an asset is disposed of under an unconditional contract so that HMRC has up to four years to investigate taxpayers

16 Mar 2023

Tax | Budget 2023: enterprise management incentive schemes simplified

A number of administrative changes to the enterprise management incentives (EMI) scheme will be introduced in April 2023 to simplify the application process

16 Mar 2023

Tax | Budget 2023: plans to raise threshold for cash basis accounting

As part of tax simplification, the government plans to reform cash basis accounting rules by increasing the turnover threshold, possibly to £1.35m, to allow more businesses to use the system

16 Mar 2023

Tax | Accountants react to ‘bland’ Budget

As the Chancellor set out his plans in the Budget, accountants and auditors reacted with disappointment, specifically at the lack of support for small businesses

16 Mar 2023

Tax | Budget 2023: cryptoasset reporting on tax returns overhauled

HMRC plans to increase their checks on crypto asset reporting in self assessment tax returns by requiring separate reporting of gains and income

16 Mar 2023

Tax

Personal tax

Budget

Tax | Budget 2023: draught beer boost as wine prices hiked

In the Budget, the Chancellor announced a ‘Brexit pubs guarantee’ to keep the tax on beer and cider up to 11p lower than supermarkets, but wine and spirit prices soar

16 Mar 2023