HMRC reform: digital transformation and closing the tax gap

HMRC reform: digital transformation and closing the tax gap

In line with the e-invoicing initiative we reported on elsewhere, the Chancellor also outlined broader reforms to modernise HMRC through a Digital Transformation Roadmap, which is expected in Spring 2025. This roadmap will aim to create a “digital-first” tax system,...

Chancellor pushes for e-invoicing: What you need to know

Chancellor pushes for e-invoicing: What you need to know

The Chancellor unveiled a series of announcements last week that could have implications for UK businesses. One of the most relevant for business owners was the government's push for electronic invoicing (e-invoicing). HM Revenue and Customs (HMRC) will soon launch a...

Are training costs tax deductible for the self-employed?

Are training costs tax deductible for the self-employed?

HM Revenue & Customs have recently updated and clarified their guidance on training costs paid by the self-employed. The general rule for whether the cost of a training course can be deducted from your self-employed profits is that it must be incurred wholly and...