Business & Industry
Future of Tax Q4 2023
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EU VAT Changes To Impact UK
The EU is planning is first major changes to VAT laws since the UK left the common VAT area as part of the Brexit process. The new proposals are part of the EU’s VAT in the Digital Age (ViDA) policy reforms, which prepare European companies for the further expansion of e-commerce and trade digitalisation. This...
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Why the future of tax is digital, easier and up-to-date
We’re building a modern, digital tax system that will help businesses get their taxes right, save them time and bring in money for essential public services. Digital innovation touches every aspect of our daily lives and, at HMRC, we’re working hard to make it simpler for everyone to manage their tax affairs digitally, too. Easier...
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Tax rules update: when services are no longer VAT-exempt
Businesses that have switched to technology to deliver services are being warned about how VAT legislation rules could impact changes to their operating formats. Jon Dawson, Partner and Head of Creative, Media and Technology at London-based accountancy firm haysmacintyre, says: “Increasingly, we are seeing companies use technology to deliver services that are traditionally supplied through...
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Green taxes and ESG: a path to sustainability and economic growth
Green taxes serve as a powerful tool to align economic growth with environmental, social and governance (ESG) principles, stimulating eco-friendly practices and contributing to net zero goals. The tax system can encourage eco-friendly practices by taxing polluting behaviours or providing tax relief to drive the uptake of green alternatives. In the UK, environmental taxes include...
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Artificial intelligence in tax: how to balance the risks and rewards
The use of technology in tax is nothing new, but the rise of artificial intelligence (AI) has the potential to revolutionise the way we do things. Tax and technology have gone hand-in-hand for some time, with most taxpayers filing returns online and interacting digitally with HMRC. Tax practices are already harnessing the technology to improve...
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Why due diligence is now a vital step to accessing innovation incentives
Research and development (R&D) tax incentives play an important role in funding innovation, but policy changes and a new approach from HMRC have added complexity and risk for companies claiming relief. At ForrestBrown, we’ve been helping the UK’s most innovative businesses secure funding for R&D for over a decade. We’ve submitted more than 13,500 claims,...