Category: 4bn
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UK SMEs eye £4bn NI savings despite looming tax hike
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Small and medium enterprises (SMES) are preparing for a significant increase in national insurance contributions (NI) after the autumn budget last year, as Chancellor Rachel Reeves announced the rise of NI rates for the employer and the threshold of less than 2025/26. Although the Treasury expects to collect 25 billion…
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£4bn lost to fraud and error on flagship HMRC ‘innovation’ scheme
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A government scheme designed to boost innovation and boost the economy has lost more than £4 billion to fraud and error since 2020, due to widespread breaches. The R&D tax credit scheme, which aims to drive world-leading innovation, has been dogged by dubious claims and has turned into what experts…