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
Month: December 2016
Online retailers and overseas sellers rush to register for VAT
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
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
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
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
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
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
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
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
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