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Government announces consultation for plans to make HMRC a preferential creditor

Mar 07, 2019

The Government has announced details of the first public consultation on its plans to make HM Revenue & Customs (HMRC) a secondary preferential creditor for certain tax debts which are paid by employees and customers after the insolvency of a ...

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Shakira to face tax fraud accusation in Spanish court

Mar 04, 2019

The Colombian singer, Shakira whose estimated wealth is £176 million, is being investigated on suspicion of committing six separate counts of tax fraud against the Spanish Treasury totalling more than £12.5 million (€14.5 million). Consequently, in June, Shakira is set to ...

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Surplus in CGT receipts boosts UK Government’s finances

Feb 25, 2019

According to the latest figures released by Office for National Statistics, income from taxes surpassed public spending by £14.9 billion, which has resulted in the Government’s largest January surplus since records began in 1993. Compared to 2018, there has been a ...

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MP’s calling for more to be done to help the high street

Feb 21, 2019

MP’s are backing calls for changes to the current tax regime in a bid to halt the current decline in British high streets and town centres and allow them to flourish in the future. A report published by the Housing, Communities ...

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The VAT reverse charge and how it will affect the construction industry

Feb 18, 2019

This year could be the most challenging year yet for the construction industry, as HM Revenue and Customs (HMRC) has announced that the VAT reverse charge will commence 1 October 2019.   The Government announced in the 2017 autumn budget statement that ...

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Businesses must prepare now for an increase in employment-related costs

Feb 13, 2019

An increase in the National Living and Minimum Wage and rising workplace pension contributions could create the perfect storm for small businesses in April. Small businesses owners across the UK will need to prepare themselves for the changes ahead, which will ...

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PENSION

Automatic Enrolment contributions to increase from April

Feb 13, 2019

The next increase in Automatic Enrolment (AE) pension contributions for both employees and employers will take place from 6 April 2019. The minimum employer contribution will increase from two per cent to three per cent, while the employee contribution will rise ...

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ICAEW reveal valentine’s tax benefits

Feb 11, 2019

It may not be the most romantic reason to propose but with valentine’s day just a few days away the ICAEW are highlighting the tax benefits of getting married or entering a civil partnership. For example, as a wedding gift, each ...

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HMRC takes new measures to toughen stance on debt recovery

Feb 07, 2019

HM Revenue and Customs (HMRC) has toughened its stance on debt recovery, by taking money owed to them directly from hundreds of pay packets during the last financial year. In data obtained via a Freedom of Information request, it was revealed ...

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Record number of Self-Assessment tax returns filed by the deadline

Feb 04, 2019

HM Revenue and Customs (HMRC) has revealed that a total of 93.68 per cent of Self-Assessment tax returns were filed by the deadline. This equated to a record number of 11.5 million taxpayers submitting their 2017/18 tax returns by 11:59 pm ...

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