Everything you need to know about electric company cars and tax
Jul 22, 2019
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. But why wait until then? Electric car owners are already experiencing the cost-saving ...
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VAT Reverse Charge for building and construction services – What you need to know
Jul 18, 2019
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. The reverse charge legislation will now place the responsibility on a contractor ...
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HMRC defeated in latest high profile IR35 case
Jul 15, 2019
A radio presenter has become the latest high profile person to win an IR35 tribunal case against HM Revenue & Customs (HMRC). The latest case involved Paul Hawksbee, a presenter on Talksport radio, who appealed an IR35 determination over a £140,000 ...
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Managing business expenses is the biggest headache for SMEs
Jul 11, 2019
According to the latest research, managing travel costs and business expenses are the two biggest headaches for businesses in the UK. The research by Allstar Business Solutions looked into the concerns of 1,000 small and medium-sized enterprises (SMEs). They found that employers ...
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Could the IHT seven-year rule on gifts be cut to five?
Jul 08, 2019
At present, when someone dies within seven years of passing on money, property or possessions to loved ones, tax of up to 40 per cent must be paid. However, the Office of Tax Simplification (OTS) has recently suggested that this deadline ...
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Over 800 cyber incidents reported to FCA by financial firms last year
Jul 04, 2019
According to new data obtained via a freedom of information request, financial services firms reported 819 cyber incidents to the Financial Conduct Authority (FCA) during 2018. The figures show a substantial rise compared to the 69 incidents which were reported in ...
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HMRC issue incorrect CGT allowance to thousands of taxpayers
Jul 01, 2019
HM Revenue and Customs (HMRC) has recently issued nearly 350,000 incorrect short tax returns, indicating an error in taxpayers’ capital gains allowance. CGT is payable on the overall gain from the sale of an asset such as a business, second home, ...
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Drunk people in the workplace cost UK economy £1.4 billion a year
Jun 27, 2019
New research has revealed that as many as 89,000 people are turning up to work hungover or under the influence of alcohol every day, costing the economy around £1.4 billion a year. Earlier this year, Lloyd’s of London featured in the ...
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Is your business compliant with the Making Tax Digital rules?
Jun 24, 2019
According to new research, thousands of UK businesses could find themselves under scrutiny from HM Revenue & Customs (HMRC) for failing to follow new rules on keeping digital records. Under the new called Making Tax Digital (MTD) initiative, more than one ...
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Government announces new measures to ensure SMEs are paid on time
Jun 20, 2019
The Government has announced new measures to ensure that small businesses get paid on time. The new rules will see large businesses fined for the first time for failing to pay smaller suppliers on time as part of a package of ...
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