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Businesses warned to pay VAT on time or face hefty fines

Experts are urging businesses to pay their VAT on time following a ruling at a recent tax tribunal, which ruled that a six-figure fine for missing a VAT payment by just one day was ‘proportionate’ for a struggling London firm.Continue reading

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Senior Tories at odds over implications of Brexit

The Chancellor of the Exchequer has warned that there could be a profound shock to the UK economy if voters back leaving the EU this summer.Continue reading

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Cameron appoints new HMRC chief executive and chairman

David Cameron has appointed Jon Thompson, the permanent secretary of the Ministry of Defence (MoD), as the new chief executive of HMRC, it was revealed this week.Continue reading

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£22.2 billion paid out so far in PPI mis-selling scandal

The Financial Ombudsman Service has published the latest complaint figures against financial firms, with banks continuing to dominate.Continue reading

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New dividend tax has knock-on effect for owner/director PAYE codes

HMRC’s new dividend tax will cause complications in the 2016/17 PAYE codes used by owners and directors.Continue reading

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Osborne will abolish the tax-free lump sum on retirement incomes, claims former minister

Former pensions minister Steve Webb criticised George Osborne yesterday, claiming that the Treasury is plotting a “tax bombshell” which will hit thousands of British people.Continue reading

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Could trade deal make tax avoidance easier?

Fears have been raised that a controversial new trade deal being negotiated between the European Union (EU) and the United States could make it more difficult to tackle tax avoidance in future.Continue reading

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New “PSC register” will affect almost all UK companies

From April 2016, all UK private companies and LLPs will have to disclose their beneficial owners under the new Persons of Significant Control (PSC) register.Continue reading

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Conservative London mayoral candidate agrees on TV to publish his tax returns

Conservative London mayoral candidate Zac Goldsmith has said he will publish his tax return after facing a grilling over his tax status.Continue reading

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£29bn in extra costs from NLW and apprenticeship levy will damage SMEs and economy, CBI warns

The Confederation of British Industry (CBI) has estimated that SMEs face an additional bill of approximately £29 billion over the course of our current Parliament.Continue reading

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