Blog
Making tax digital is live today, yet one million businesses are not registered
Apr 01, 2019
As of today, UK based businesses that have a taxable turnover above the VAT threshold of £85,000 will be required to switch to the new digital tax service to report earnings and calculate VAT owed. HM Revenue and Customs (HMRC) had previously ...
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Barclays announce £14 billion funding to support UK businesses
Mar 28, 2019
Barclays bank has announced plans for a major lending fund worth £14 billion pounds, which will help small and medium enterprises (SMEs) to flourish once the UK has left the European Union (EU). Recently, the Bank of England’s Governor Mark Carney ...
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HMRC reveals MTD registration takes seven working days
Mar 21, 2019
HM Revenue & Customs (HMRC) has warned that registration for Making Tax Digital (MTD) for VAT will take up to seven days to complete and will not be a real-time service. In the latest piece of guidance for businesses who need ...
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Many businesses unaware of the criminal offences associated with tax evasion
Mar 18, 2019
Three-quarters of businesses are unaware of the corporate criminal offences relating to activity which is seen to facilitate tax evasion. On 30 September 2017, the Criminal Finances Act was introduced; which meant companies and partnerships can be found liable for failing ...
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Chancellor wants to tackle late payments in the UK
Mar 14, 2019
Currently, in the UK, late payments are a serious issue, especially for small medium-sized enterprises (SMEs) who have to chase invoices from large suppliers, thus causing a disruption in the channel with resellers. According to research conducted by Bacs Payment Schemes ...
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Spring Statement 2019
Mar 13, 2019
On any other day, the Chancellor’s Spring Statement would have dominated the headlines. However, with the UK’s scheduled withdrawal from the EU just days away, and the Prime Minister’s latest Brexit deal voted down by the Commons just hours earlier, ...
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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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