United Kingdom Tax Agency Issues Guidance on Tax Relief, Allowances for Businesses, Employers

The United Kingdom HM Revenue and Customs Oct. 12 issued guidance clarifying tax relief and allowances available to companies, self-employed individuals, and employers. The guidance includes: 1) tax-deductible business expenses for the self-employed; 2) R&D tax credits, including claims on unsuccessful projects; 3) deductibility of pre-trading expenses; 4) reclaiming VAT; 5) the employment allowance for employers’ national insurance contributions; 6) business rate relief for property taxes; and 7) deductible business expenses for employers. [United Kingdom, Government Portal, 10/12/22]

Reference: View Index. View Guidance.