HMRC investigates a quarter of estates that pay IHT
In the 2018 to 2019 tax year, HMRC opened 5,537 inheritance tax (IHT) investigations, which equated to almost a quarter (23 per cent) of the 22,000 estates on which the tax is applicable.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
Chancellor Philip Hammond aims to tackle the late payment culture in the UK
Following the announcement of a new campaign against unfair payment practices, Chancellor Philip Hammond has said that late payments add an “unacceptable” financial and operational burden on small business owners.Continue reading
Everything you need to know about electric company cars and tax
The number of electric cars in Britain recently hit the 200,000 milestone, indicating that the UK is finally coming round to the inevitable idea of an emission-free future.Continue reading
VAT Reverse Charge for building and construction services – What you need to know
In an attempt to tackle fraud in the construction industry, HM Revenue & Customs (HMRC) is be introducing a domestic reverse charge which will take effect from October 2019.Continue reading
Three-quarters of SMEs are afraid of chasing late payments, according to new research
Most small and medium-sized enterprises (SMEs) fear taking action over late payments, according to a new white paper published by Paul Uppal MP, the Small Business Commissioner.Continue reading
HMRC defeated in latest high profile IR35 case
A radio presenter has become the latest high profile person to win an IR35 tribunal case against HM Revenue & Customs (HMRC).Continue reading
Total value of UK exports reach “record high” despite global headwinds
The total value of UK goods and services exports increased by four per cent in 2019, a new report has revealed.Continue reading
Managing business expenses is the biggest headache for SMEs
According to the latest research, managing travel costs and business expenses are the two biggest headaches for businesses in the UK.Continue reading
HMRC publishes Making Tax Digital ‘Mythbusters’ helpsheet
HM Revenue & Customs (HMRC) has published a Making Tax Digital (MTD) ‘Mythbusters’ helpsheet to clarify the current situation regarding businesses and MTD.Continue reading
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