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Month: December 2016

Study suggests empty high streets in 2017

23rd December 201623rd December 2016 McGills

More than 760 businesses have ceased trading in December 2016, with more expected to follow suit in the new year, the latest insolvency survey has revealed. Read More

Online retailers and overseas sellers rush to register for VAT

22nd December 201622nd December 2016 McGills

Thousands of online retailers have rushed to register for value-added tax (VAT) since HM Revenue & Customs (HMRC) introduced a crackdown on overseas businesses and online sellers failing to comply with UK tax rules. Read More

Wales secures right to set Income Tax

21st December 201621st December 2016 McGills

Wales could introduce its own Income Tax rates from April 2019 as part of a deal with the UK Treasury. Read More

One in every 14 APNs issued by HMRC in error, says study

20th December 201620th December 2016 McGills

A new study suggests that one in every 14 accelerated payment notices (APNs) issued by HM Revenue & Customs (HMRC) has been in error. Read More

SMEs falling behind on corporation tax payments could face penalties and asset seizures

19th December 201619th December 2016 McGills

Small and medium-sized enterprises (SMEs) are being warned of the dangers of falling behind on their corporation tax payments, after a new study found that the total value of payments in arrears now sits at around £1.82billion. Read More

London department store to cut basic pay to save on taxes

16th December 201616th December 2016 McGills

London retailer Fortnum & Mason is attempting to persuade its workforce to accept a cut in basic pay in return for a share of tips in a move that will help reduce its tax liabilities. Read More

SMEs set out New Year’s resolutions

15th December 201615th December 2016 McGills

The majority of the UK’s small and medium-sized enterprises (SMEs) have cost-cutting on their Christmas lists, and are eyeing up expansion and exploring new marketing opportunities as New Year’s resolutions, according to research. Read More

SMEs rely on personal loans and salary sacrifices to patch up cash flow, research reveals

14th December 201614th December 2016 McGills

Nearly half of all UK small and medium-sized enterprises (SMEs) are being paid late, a report has revealed. Read More

HMRC cybercrime crack down yields impressive results

13th December 201613th December 2016 McGills

HM Revenue & Customs (HMRC) claims that a recently-introduced crack down on cybercrime has already reduced the number of ‘phishing scams’ purporting to be from the Revenue by 300 million. Read More

Plans to tackle tax avoidance highlighted in draft Finance Bill 2017

12th December 201612th December 2016 McGills

The Government has released a new draft of the Finance Bill 2017, which sets out proposals to use policies introduced during the Budget 2016 and Autumn Statement announcements support businesses through the tax system while simultaneously clamping down on tax evasion and avoidance. Read More

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