News & Views
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Is HMRC’s Enquiry into your Tax Return Valid?
In recent years, HMRC has ramped up its compliance efforts in a bid to close the UK’s widening tax gap, which is currently estimated at over £30 billion annually. As part of this drive, taxpayers and advisers are seeing a surge in enquiries into submitted returns. The Spending Review 2025 allocated £1.7 billion over four years to fund the recruitment of 5,500 compliance officers and 2,400 debt management staff, alongside £500 million earmarked for digital transformation to help close the tax gap by an additional £7.5 billion annually by 2029/30. In simple terms, this means a marked increase in HMRC enquiries.
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Special Weapon Activated – Video Games Developer Funding Health Levels Replenished by UK Tax Reliefs
Video game developers in the United Kingdom can now level up on their tax relief as the Video Game Expenditure Credit (VGEC) scheme introduced in 2024 starts to ramp up.
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Power Struggle - Understanding HMRC's Schedule 36 Rights
HMRC holds significant authority to ensure compliance with UK tax law, but how far are they reasonably allowed to go? John Moxon explains in more detail.
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Congratulations!
We are delighted to announce that our Senior Tax Consultant, James Smith, has been named as one of the “Top 30 Under 30”!
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R&D Tax Claims - Understanding HMRC and Careless Penalties
When it comes to submitting claims for R&D tax relief, accuracy matters. HM Revenue & Customs (HMRC) has the power to impose financial penalties when R&D claims contain inaccuracies that lead to an underpayment of tax. Among the most commonly encountered penalties we see being levied by HMRC are those for careless errors: mistakes made through a failure to take reasonable care.
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What are Capital Allowances actually worth?
Most business’s will be aware that when they purchase or improve their commercial property, Capital Allowances can offer significant tax relief, but the amount of tax savings due can be a mystery until the tax work is completed. Below we aim to give you a rough idea of what to expect for your property projects, based on our experience with hundreds of properties and claims. The below examples assume a company paying corporation tax at 25%, however, individuals & partnerships can also claim capital allowances, to generate savings against their income tax.
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HMRC R&D Enquiries – 2025 Update
The key question for R&D compliance checks in 2025 is are things better than they were? Based on our experience at YesTax, the answer is a massively caveated yes. Things certainly seem more settled in 2025. Improvements have been made, albeit at a snail’s pace. It was Confucius who remarked ‘it does not matter how slowly you go as long as you do not stop’. Our advice to ISBC is to heed these words.
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Discovery Assessments and R&D Tax Relief – What You Need to Know
HMRC’s relentless R&D tax relief claim compliance activity shows little sign of abatement. John Moxon explains more here.