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Businesses taking extra cash-flow measures ahead of Brexit

Sep 26, 2019

According to the latest research, small business owners are increasing the amount of cash they’re holding in current accounts ahead of Brexit. The Hampshire Trust Bank (HTB) surveyed 500 companies whose turnovers ranged from below £500,000 to £100 million. The research found ...

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Number of non-doms in the UK has fallen to a record low

Sep 23, 2019

According to figures published by HM Revenue and Customs (HMRC), the number of people who live in the UK but pay no tax on their offshore income has fallen to a record low. Since last year, the amount of tax paid ...

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120,000 businesses failed to meet the Making Tax Digital deadline

Sep 16, 2019

HM Revenue and Customs (HMRC) has revealed that 1.1 million businesses have now signed up for Making Tax Digital (MTD) and so far, 1.2 million VAT returns have been successfully submitted through the service. Figures suggest that 490,000 VAT-registered businesses with ...

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More than 2,800 retail stores closed during first half of 2019

Sep 12, 2019

According to the latest industry research, around 16 shops are closing every single day on UK high streets as retailers look to restructure their businesses and adapt to increased levels of online shopping. The research found that there was a net ...

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Construction

Government delays domestic VAT reverse charge until October 2020

Sep 09, 2019

The Government has announced that it will delay the implementation of the domestic VAT reverse charge for building and construction services by a year. Following pleas from those in the Construction industry, the Government agreed that the new rules will not ...

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Over £1.6 billion in tax owed to HMRC by self-employed

Sep 05, 2019

According to the latest industry research, HM Revenue & Customs (HMRC) is currently owed £1.6 billion in late tax payments from self-employed individuals for 2017 and 2018. That figure is expected to rise further, meaning that it could become the fourth ...

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Tax Evasion

Thousand-year-old coin collection is the earliest form of tax fraud

Sep 02, 2019

A thousand-year-old collection of Norman coins has been revealed as the earliest form of tax evasion. The coins were discovered by detectorists in a field in the Chew Valley, Somerset in January. The collection of 2,528 coins was buried in a field ...

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Government launches £10 million Brexit Readiness Fund

Aug 29, 2019

The Government has launched a £10 million Brexit readiness fund that will help provide support for businesses who are preparing for Brexit ahead of the 31 October deadline. The Business Readiness Fund is open to business organisations and trade associations throughout ...

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Government to allocate trading numbers to more than 88,000 UK firms ahead of Brexit

Aug 22, 2019

Ahead of a potential no-deal Brexit, the Government has announced that it will start automatically enrolling UK firms in the customs system. As a result, this will enable UK businesses to continue to trade with European Union (EU) members after the ...

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Half of UK SMEs are struggling with cash flow

Aug 19, 2019

According to the latest industry research, 2.5 million (44 per cent) UK small and medium-sized enterprises (SMEs) are struggling with cash flow as they prepare for Brexit. Research indicated that in the second quarter almost a third (29 per cent) of ...

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