Taxman Doubles Investigations
Hot on the heels of news that the taxman plans to raid the bank accounts of people who owe more than £1,000 in tax, it has been revealed that HM Revenue & Customs (HMRC) made inquiries into the tax affairs of 237,215 self-employed people last year, compared with about 119,000 in 2011-12, raising concerns that people who have made innocent mistakes are being specifically targeted. Continue reading
Billions Still Not Spent On Businesses
According to the Public Accounts Committee, billions of pounds set aside to boost economic growth and jobs around the country are still unspent, with only 10 per cent of the £3.9bn allocated for businesses since 2010 actually disbursed.Continue reading
Jobless Rate Lowest In Five Years
The number of people out of work in the UK fell to a five-year low of 2.2 million in the first quarter of the year, while the number of people in work rose to 30.43 million, the highest figure since records began in 1971.Continue reading
Tax Loophole Means Higher Earners Pay Tax At 60 Per Cent
The Institute for Fiscal Studies (IFS) has criticised a loophole in the tax system that means around 500,000 professionals are paying a tax rate of 60 per cent on some of their income.Continue reading
Easter Boost For Retail Sales
Retail sales rose by 4.2 per cent in April on a year-on-year, like-for-like basis, with sales growth for the twelve months to April this year up 2.8 per cent compared to the 12 months to April 2013.Continue reading
Confidence And Jobs Outlook Increasing
A new survey has shown that almost 80 per cent of small and medium-sized enterprises (SMEs) are confident that the UK is a positive environment in which to grow a business, while a separate study has found that the country’s jobs outlook is at its highest for more than six years.Continue reading
SMEs Need Help From Accountants For Auto-Enrolment
A new survey from a workplace pension provider has found that almost half of small and medium-sized enterprises (SMEs) have yet to consider how they will find a pension scheme to comply with auto-enrolment and many are turning to accountants for support.Continue reading
Thousands Could Have Bank Accounts Raided By The Taxman
HM Revenue & Customs (HMRC) has outlined plans for new powers to recover money from anyone who owes more than £1,000 in tax by taking it direct from their bank accounts. The plans are currently going through the consultation process and, if approved by Parliament, will take effect in 2015-16.Continue reading
Employment Surge Set To Continue
Nearly half a million more people are expected to enter the workforce in the next 12 months, according to new research by the Institute of Chartered Accountants in England and Wales (ICAEW).Continue reading
UK is “Top of the List” for doing business
The overhaul of the UK’s corporation tax regime is making the UK a very attractive place for multinationals to do business, with hundreds of them lining up to establish operations here.Continue reading
Can we help? Talk to our expert team