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Month: May 2016

UK businesses sending tax payments to incorrect HMRC bank account

31st May 201631st May 2016 McGills

Businesses across the UK and beyond have been unable to pay HM Revenue & Customs (HMRC) millions of pounds in corporation tax and VAT – after HMRC left them with the incorrect bank details to make their payments. Read More

Well-known businessman appointed to encourage young entrepreneurs

27th May 201627th May 2016 McGills

He’s hired! Lord Sugar has been appointed as the Government’s new “enterprise tsar”. Read More

HMRC reels in record-breaking £1.2bn in stamp duty

26th May 201626th May 2016 McGills

HM Revenue & Customs (HMRC) reeled in a record-breaking £1.2billion in Stamp Duty last month, from a total of 173,430 property transactions, according to the Taxman’s latest data. Read More

Customer service meltdown at HMRC cost taxpayers £97m

25th May 201625th May 2016 McGills

Difficulties getting hold of HM Revenue and Customs has cost the taxpayer the equivalent of nearly £100m and may have put some people at risk of debt. Read More

IEA accuses Oxfam of using Gift Aid to ‘escape tax liabilities’

24th May 201624th May 2016 McGills

The Institute of Economic Affairs (IEA) has accused leading charity Oxfam of using Gift Aid for tax avoidance, in a controversial online article which argued that using Gift Aid to transfer profits between subsidiaries was “an ingenious way to escape a tax liability”. Read More

UK dividends will continue to fall throughout 2016, says report

23rd May 201623rd May 2016 McGills

A new report has predicted that UK dividends will continue to fall over the course of 2016, after statistics revealed that dividends fell by five per cent in the first quarter of the year. Read More

Call for increased collaboration between universities and SMEs

20th May 201620th May 2016 McGills

A leading business group has said that SMEs and universities need to work more closely together to boost growth in the UK. Read More

Bank of England study says SDLT won’t stop long term buy to let trend

19th May 201619th May 2016 McGills

A survey conducted by the Bank of England has suggested that George Osborne’s Stamp Duty Land Tax (SDLT) is unlikely to quash demand for buy to let investments in the long term. Read More

UK unemployment drop is “modest” but still the lowest for a decade

18th May 201618th May 2016 McGills

The UK employment rate has reached another high as wages increase and women retire later. Read More

Barrister criticises HMRC over ‘unpredictable’ tax U-turns

17th May 201617th May 2016 McGills

HM Revenue & Customs (HMRC) has come under fire this week from a prominent barrister, who has criticised the taxman’s ‘unpredictable’ U-turns in tax rules as ‘arbitrary’ and ‘unfair’. Read More

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