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tax advice

A Recap On The Spring Budget 2023 Announcements.

Jeremy Hunt delivered his first Spring Budget today, referring to it as a ‘Budget for Growth.’
The first part of the speech as usual dealt with the economic background and forecasts on which the budget has been based. According to the Chancellor the most recent forecast is that although the economy will not grow this year, it is likely that a technical recession will be avoided. It is expected that the rate of inflation will fall to 2.9% by the end of the year, and the Bank of England will continue to focus their interest rate policy on targeting a long-time inflation rate of 2%.

What is HMRC's Guidance on serious fraud?

HMRC’s Code of Practice 9 (COP9) leaflet outlines the procedures for any investigations into serious fraud by HMRC. COP9 covers both direct and indirect taxes and includes confirmation from HMRC that taxpayers will be treated fairly and courteously. Investigations of this type by HMRC are designed to ascertain the full facts of a case and to collect any tax liabilities, penalties and interest deemed owing in cases of fraudulent conduct.