Tax Innovations

R&D tax relief: act now to protect your claim

2025-09-09T10:43:50Z

R&D tax relief: act now to protect your claim HMRC has introduced a claim notification requirement for companies making an R&D tax relief claim for the first time. This requirement now affects most companies and could result in valuable relief being lost if action is not taken promptly. If your company is claiming R&D tax […]

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HMRC Changes Position on US Pension Lump Sums

2025-07-23T13:03:48Z

HMRC Changes Position on US Pension Lump Sums HMRC have finally published guidance on what they will deem to be ‘lump sum’ payment from a pension scheme for the purposes of Double Taxation Agreements (DTAs) between the UK and other countries. But this guidance includes a sting in the tail for UK residents with US […]

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Autumn Budget 2024 – Detailed Analysis

2025-08-14T13:36:10Z

Autumn Budget 2024 – Detailed Analysis On 30 October 2024, Labour unveiled their first Budget in 14 years, and the first ever from a female Chancellor. Our Article covering the highlights can be found here. A more detailed analysis of the Budget Changes is set out below. Changes to Domicile Rules The concept of ‘Domicile’ […]

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Autumn Budget 2024- Highlights

2024-11-08T10:40:51Z

On 30 October 2024, the UK received the first Budget from the Labour Party in 14 years, and the first ever from a female Chancellor. It was a Budget where many expected tax increases came to pass, whilst other feared changes did not materialise.

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Reform of the UK rules for non-domiciled individuals

2025-05-14T14:07:23Z

Reform of the UK rules for non-domiciled individuals Introduction The Government has issued a policy paper to confirm the Labour party’s direction of travel regarding changes to be made to the taxation of non-UK domiciled individuals. A link to the latest update on this from the Government is attached below: https://www.gov.uk/government/publications/2024-non-uk-domiciled-individuals-policy-summary/changes-to-the-taxation-of-non-uk-domiciled-individuals Policy commitment The paper […]

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Updates to Advisory Fuel Rates

2024-09-02T14:48:43Z

Updates to Advisory Fuel Rates 2024 Fuel for Company Cars When an employer provides an employee with a company car, they may also provide fuel for that car. Where that fuel is provided for private use, the employee has received a taxable benefit in kind. This benefit is calculated by multiplying a fixed figure (currently […]

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Important – Major Changes to Taxation of Non Doms in the Spring Budget with Removal of the Remittance Basis of Taxation – ACTION REQUIRED.

2024-09-26T09:25:45Z

Important – Major Changes to Taxation of Non Doms in the Spring Budget with Removal of the Remittance Basis of Taxation – ACTION REQUIRED. From 6 April 2025, the remittance basis of taxation that is currently available to non-domiciled individuals will be replaced by a Foreign Income and Gains (FIG) regime that is described as […]

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Tribunal Success – Magic Carpets Vs HMRC 2023

2023-08-04T13:14:36Z

Tax Innovations have helped their client to successfully appeal to the First Tier Tribunal (FTT) to overturn PAYE determinations and penalties amounting to over £175k issued by HMRC.

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Budget 2023

2023-03-20T09:54:16Z

Budget 2023 Jeremy Hunt described this budget as his ‘back to work budget’, he stated that the “Conservatives believe work is a virtue”, and so we might be forgiven for assuming this budget is aimed at introducing policies that will appease the dissatisfied public sector and NHS workers currently striking in a bid to encourage […]

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Big Changes For R&D Relief

2022-11-24T15:00:11Z

Big Changes For R&D Relief The Chancellor’s Autumn Statement announced sweeping changes to the rates of R&D relief available from 1 April 2023, on top of the previously announced changes. These rate changes greatly reduce the relief available for smaller companies but increase the relief available for large companies. The RDEC (Research & Development Expenditure […]

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