Small businesses raise millions through Bank Referral Scheme, figures show

More than 1,700 businesses have been granted alternative finance options through the Bank Referral Scheme (BRS) after being turned down for traditional business loans, new figures reveal.Continue reading

HMRC publishes IR35 guidance

HM Revenue & Customs (HMRC) has published its first in-depth guidance for off-payroll workers (IR35) and how they will operate in the private sector.Continue reading

UK creative sector receives more than £1.1 billion in tax relief

The UK’s creative industries received more than £1.1 billion in sector-specific tax reliefs in the last year, according to the latest research.Continue reading

CIOT urges HMRC to delay VAT reverse charge for the construction industry

The Chartered Institute of Taxation (CIOT) is urging HM Revenue & Customs (HMRC) to delay the introduction of the VAT reverse charge for the construction industry.Continue reading

HMRC to investigate cryptocurrency investors over tax payments, report reveals

HM Revenue & Customs (HMRC) plans to investigate cryptocurrency investors in a bid to crackdown on tax evasion, a report suggests.Continue reading

Half of all SMEs make VAT return mistakes

Half of all small-medium sized enterprises (SMEs) make errors when filing their VAT returns, according to the latest research.Continue reading

Freeports to “boost investment” in UK after Brexit, say policymakers

The Government will establish 10 new ‘Freeports’ in a bid to boost growth and encourage trade after the UK leaves the EU.Continue reading

The number of company insolvencies reaches highest level in five years

The number of company insolvencies has reached the highest level since 2014, according to the latest data.Continue reading

New rules to crack down on ‘phoenix companies’ confirmed for April 2020

Company directors who attempt to “sidestep” their tax liabilities by forcing their company into insolvency will face tougher penalties from next year.Continue reading

HMRC collects £122 million in overseas tax following CRS rule change

HM Revenue & Customs (HMRC) collected £122 million in extra tax from overseas assets in the 2018/19 tax year, following the introduction of the new Common Reporting Standard (CRS) tax regime.Continue reading

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