
HMRC’s New Plan to Close the Tax Gap? Increased Penalties for Small Business Owners
From April 2025, the UK government’s new strategy for increasing tax revenue becomes painfully clear: target small businesses and individuals with harsher penalties. Hidden within the Chancellor’s 2025 Spring Statement is a significant and controversial update to HMRC’s penalty regime. Framed as a plan to “close the tax gap,” it actually hits those least able […]...
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