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Business chiefs issue warning over “sluggish” growth

Business bodies have voiced concern about the UK’s slump in growth.Continue reading

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HMRC’s online rebrand shakes up services for tax agents

In an official statement published by the Association of Tax Technicians (ATT), HM Revenue & Customs (HMRC) recently announced a dramatic shake-up of its online services for tax agents.Continue reading

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Only half of Brits paying income tax after Government’s decision to raise personal allowance

The top one per cent of earners will pay almost a third of income tax by 2020, and now nearly half of all working adults don’t pay it at all, new figures reveal.Continue reading

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HMRC reels in roughly £87m from late tax return penalties, says ICAEW

A report released this week by Institute of Chartered Accountants in England and Wales (ICAEW) revealed that HM Revenue & Customs (HMRC) reeled in roughly £87 million in ‘late filing’ penalties for the 2015/16 tax year.Continue reading

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Tax on life insurance bonds could be simplified under new HMRC consultation

Life insurance bonds have long been criticised for their overcomplicated tax structure. But now, following the launch of a HMRC consultation into how the bonds should be treated, life insurance bonds could be subject to significant tax simplification in coming years.Continue reading

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Report calls for greater backing for women running companies

A new report prepared by the Federation of Small Businesses (FSB) aims to shed light on the specific issues facing enterprises set up by women.Continue reading

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ATT: Flawed HMRC guidance means SMEs are overpaying VAT

The UK Association of Taxation Technicians (ATT) has urged owners of small and medium sized businesses to act fast to ensure that they are not overpaying VAT.Continue reading

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UK unemployment rises for first time since mid-2015

UK unemployment rose by 21,000 to 1.7 million between December and February, the Office for National Statistics (ONS) says. This is the first rise since the May-July period of last year.Continue reading

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Investors can sidestep new landlord tax and still invest in buy to let, say P2P providers

George Osborne’s recent introduction of a second home tax has hit buy to let investors hard – but providers of peer-to-peer (P2P) property companies are urging would-be landlords that, with the right approach, they can still make lucrative investments without being zapped by the new charge.Continue reading

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HMRC opens consultation into corporate tax evasion laws

In the wake of the so-called Panama Papers scandal, HM Revenue & Customs (HMRC) has launched a consultation into tax laws for corporate businesses, in a bid to crack down on tax evasion.Continue reading

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