MP hits back following tax return row

The Leader of the Opposition, Jeremy Corbyn, this week found himself at the centre of a spat over his tax affairs.Continue reading→

Increasing number of UK SMEs eyeing up international trade

A new study suggests that an increasing number of UK small and medium-sized enterprises (SMEs) are eyeing up international trade, and hoping to expand into both EU and non-EU markets.Continue reading→

Watch out! HMRC scammers are now phoning you in your own home

Taxpayers are being targeted over the telephone by fraudsters pretending to be representatives of HM Revenue & Customs (HMRC), it has emerged.Continue reading→

IR35 status tool fails to quash contractors’ tax fears, says IPSE

A new online tool launched by HM Revenue & Customs (HMRC) to help contractors determine their tax status ahead of radical IR35 reforms has failed to quash the tax fears of those working in the public sector, according to the Association of Independent Professionals and the Self Employed (IPSE).Continue reading→

Calls for SMEs to embrace new technology

Technology is the key to successful growth for small and medium-sized enterprises (SMEs), new research suggests.Continue reading→

Industrial strategy will not work long-term, say MPs

The Government’s long-term industrial strategy will not work, MPs have warned.

The report, published by the Business, Energy and Industrial Strategy (BEIS) select committee, looks at the recent industrial strategy green paper.

The committee’s chairman Iain Wright said the Government should be working on new policies, rather than simply continuing and expanding current ones.

He said the “business as usual” approach will not achieve the result needed and that the strategy will fall short in providing long-term security for industrial sectors.

Mr Wright said one of the green paper approaches – that sectors should approach the Government to strike deals – could lead to special pleading and that some key areas could miss out.

“One of the things the committee felt quite strongly was that if you just go down a sectoral route you are going to miss the cracks in the middle,” he said.

“And the cracks in the middle could be where the real economic advantages are.

“What happens if something is really important to the UK economy and they don’t come forward with a sectoral deal?”

The MPs argued that the Government should instead focus on “horizontal” policies that would benefit the wider economy.

This includes boosting skills, infrastructure, and research and development, the committee added.

It also warned that industry will need to continue to bring in skilled workers from abroad after Britain has left the European Union.

“In the context of negotiations over free movement as part of withdrawal from the EU, government must ensure that businesses continue to be able to access the skills they need.”

The Government’s industrial strategy green paper can be found here.

ICAEW calls on Chancellor to ‘improve productivity’ in forthcoming Budget

In a formal letter addressed to Chancellor Philip Hammond ahead of his Budget announcements on 8 March, The Institute of Chartered Accountants in England and Wales (ICAEW) is calling for changes to a number of upcoming reforms.Continue reading→

Government to teach millions of businesses digital skills by 2020

The Government has today announced its intent to keep British business at the forefront of the “digital revolution”.

It says it will offer digital skills to “millions of individuals, charities, and businesses” by 2020.

It has also announced the development of five international technology hubs in emerging markets to give businesses a head start in international trade.

Karen Bradley, Secretary of State for Culture, Media and Sport, said: “The UK’s world-leading digital sectors are a major driver of growth and productivity, and we are determined to protect and strengthen them.

“This digital strategy sets a path to make Britain the best place to start and grow a digital business, trial a new technology, or undertake advanced research as part of the government’s plan to build a modern, dynamic and global trading nation.”

The Government will work alongside global partners, namely Google, Lloyds Banking Group and Barclays, to deliver free digital training to the UK.

Barclays alone said it will teach basic coding to 45,000 children and general digital skills and cyber-awareness to one million people.

Tech City UK chief executive Gerard Grech welcomed the plans, adding that the UK’s tech sector will become a “global force to reckon with”.

“We must ensure that we stay ahead by continuing to provide a supportive environment for British start-ups and digital companies to grow in, especially since other countries are trying to take advantage of our departure from the European Union,” he said.

HMRC defends ‘confusing’ IR35 changes

HM Revenue & Customs (HMRC) has responded to criticisms over its forthcoming reforms to IR35, which will see public sector companies such as recruitment agencies responsible for determining whether contractors operating through personal service companies (PSCs) are caught by IR35.Continue reading→

Customer service standards slipping at HMRC, study suggests

Customer satisfaction with the services provided by HM Revenue & Customs (HMRC) is slipping, a new study suggests.Continue reading→