HMRC push back Making Tax Digital for majority of SMEs
Jane Ellison MP, finance secretary to the Treasury, has confirmed that the roll-out date for Making Tax Digital (MTD) will be pushed back for the majority of businesses.Continue reading
OTS criticises controversial IR35 reforms
Controversial plans for an IR35 overhaul proposed by HM Revenue & Customs (HMRC) have come under fire from the Office for Tax Simplification (OTS), which is warning that such changes will overcomplicate the tax system.Continue reading
Studies reveal fall in SME confidence
A new survey carried out by Lloyds Bank has suggested that the confidence levels of Britain’s Small and Medium-sized Enterprises (SMEs) are falling, after it found that a large proportion of SMEs held back on investment plans this summer.Continue reading
BoE gives UK economy the green light
The Bank of England (BoE) has announced plans to upgrade its growth forecasts for the UK economy, a report has said.Continue reading
HMRC targets ‘late’ taxpayers with text message warnings
UK taxpayers and Small and Medium-sized Enterprises (SMEs) have reported that they have been receiving ‘threatening’ text messages from HM Revenue & Customs (HMRC).Continue reading
Contactless spending nets £9.27 billion for UK economy
Almost three in five British consumers say that not having to hand over physical cash has led to them spending more at the counter, a new survey has revealed.Continue reading
HMRC announces another restructure
In the wake of ongoing criticisms surrounding Making Tax Digital (MTD), HM Revenue & Customs has announced plans for another reorganisation of its operations.Continue reading
UK taxpayers say Making Tax Digital exemption threshold is ‘too low’
The vast majority of UK taxpayers are complaining that a £10,000 annual income threshold, which would see small business and taxpayers exempt from Making Tax Digital (MTD) and its associated reporting requirements, is ‘too low’.Continue reading
Labour proposals call for HMRC overhaul
“Large companies” should publish their tax returns and whistle-blowers who expose financial wrongdoing must have protection under the law, the Labour party has said.Continue reading
Increasing number of SMEs self-funding through retained profits, says study
A new survey has suggested that UK Small and Medium-sized Enterprises (SMEs) are losing interest in external finance, and are increasingly turning to other means to drive business expansion, including self-funding through retained profits, accompanied by expert advice.Continue reading
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