Business rates outpace council tax and fuel duty rises
Estimates by the Office of Budget Responsibility (OBR) have shown that the amount generated through business rates will surpass tax and fuel duty in the 2015/2016 year. Continue reading
Labour Party announces 100 per cent fines for tax avoidance
The labour party has said that it will introduce tougher penalties for tax avoidance if it is elected at the next general election – including fines totalling as much as 100 per cent of the amount avoided.Continue reading
Bank of England figures signal end of economic squeeze
Official figures from the Bank of England have shown salaries rose more than prices in the month of September; the first time average earnings have risen above CPI inflation since the start of the recession. Continue reading
More local authorities are spending with SMEs
The government currently spends around £187 million on goods and services from SMEs each year, but this figure could be set to rise as Whitehall has set a new 25 per cent target for public sector spending on SMEs next year.Continue reading
North beats South in average business turnover
New research conducted by the ICAEW Business Advice Service has revealed the average turnover for a British business as £505,644.33. The findings are based on analyses from the BAS Business Heat Map, which monitors annual turnover of businesses according to the constituency in which they are placed.Continue reading
CBI calls for raise of living standards for working families
CBI, the Confederation of British Industry, has called for childcare subsidies and tax cuts for working families to help improve their living standards. The business lobby group said radical ideas are needed to raise standards for families and low-income workers.Continue reading
Tax avoidance only counts for nine per cent of the UK’s tax gap
The UK’s tax gap, the difference between the amount due to H.M.Revenue and Custom (HMRC) and the amount it manages to collect, rose by £1billion between 2011-12 and 2012-13.Continue reading
HMRC taking tougher line on tax penalties
Evidence has emerged that HMRC is taking a tougher approach to penalties that are levied on individuals found to be infringing regulation after a tax investigation. Continue reading
One-in-five SMEs have shrunk in last three months
As many as one in five small to medium enterprises (SMEs) in the UK have shrunk over the last three months, according to Zurich’s latest quarterly SME Risk Index.Continue reading
SME lending driven to new £1.25bn record
New lenders flooding the market have led to a surge in the amount of money lent to SMEs, according to the National Association of Commercial Finance Brokers (NACFB), the trade body for finance brokers. Continue reading
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