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Banking crime cost over £600 million in first half of 2019

Banking customers lost over £600 million to crime during the first half of 2019, according to data from industry group UK Finance.

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Essential tips for SMEs to get ready for Brexit

The government is ramping up its advice for companies as Brexit departure date looms with advice on employee status, professional qualification recognition and data requirements

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120,000 businesses miss first MTD for VAT deadline

Some 120,000 businesses have missed the first deadline for filing under the Making Tax Digital regime, and HMRC has sent out ‘TV licence’-style reminders urging them to do so before next month.

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Chancellor warned over Treasury insolvency ‘cash grab’

Leading business groups and insolvency experts have written to the Chancellor to warn that plans to prioritise repayments to HMRC over repayments to other creditors in insolvencies ‘will have serious consequences for the UK economy’

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Ex NAO chief to lead independent review of loan charge

The former head of the National Audit Office (NAO), Sir Amyas Morse, will head up the independent review into the controversial loan charge

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Snack Tax ‘could be more effective than Soft Drinks Industry Levy’

Researchers compiling evidence for the British Medical Journal (BMJ) have suggested that a 20% 'snack tax' would have a 'huge impact' on obesity levels in the UK.

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Construction industry reverse charge VAT delayed until 2020

HMRC has bowed to pressure and has announced a one-year delay to 2020 to the introduction of reverse charge VAT in the construction sector

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£16m ‘Brexit boost’ to fund thousands more customs agents

HMRC has announced an extra £16m funding for businesses that will need to train staff to make customs declarations, and to help businesses that support others to trade goods to invest in IT.

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UK manufacturing output ‘stabilised in three months to August’

Manufacturing output in the UK stabilised in the three months to August, according to data published by the Confederation of British Industry (CBI).

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Companies House London office is moving

Companies House is relocating its London information centre to Westminster this autumn

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Cyber-attacks on small businesses cost £4.5 billion

The annual cost of cyber-attacks on UK small businesses is £4.5 billion, according to research conducted by the Federation of Small Businesses (FSB).

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Auto enrolment for post-Brexit EU customs system

HMRC is to automatically enrol VAT-registered UK companies into the economic operator registration and identification (EORI) customs system to reduce the risk of Brexit disruption to trade

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One in 10 businesses miss first MTD for VAT filing deadline

An estimated 120,000 businesses have missed the deadline to sign up for Making Tax Digital for VAT, meaning that technically they should be due a penalty from HMRC

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Government under pressure to launch loan charge review

MPs and contractors are intensifying pressure on the Chancellor to review the loan charge which has seen contractors paying retrospective tax bills on remuneration schemes which were outside PAYE, some dating back 20 years

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Construction industry reverse charge VAT – are you ready?

With less than two months before major changes to VAT invoicing take effect for the construction industry, two thirds of SMEs in the sector know nothing about the new reverse charge regime.

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UK digital businesses ‘struggle with complexity of tax compliance’

Research carried out by HMRC has revealed that UK digital businesses 'struggle with the complexity of tax requirements'.

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Half of small businesses make VAT return errors

Half of small businesses say they have made mistakes when sending in their VAT return and only a quarter are confident they have the figures correct despite spending more than an hour checking

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Company insolvencies hit five-year high

The number of company insolvencies in England and Wales has risen to its highest level in five years, according to the latest data from the Insolvency Service.

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Chancellor urged to ‘take a new approach to making tax policy’

The Chartered Institute of Taxation (CIOT), the Institute for Fiscal Studies (IFS) and the Institute for Government (IfG) have urged Chancellor Sajid Javid to 'take a new approach to making tax policy'

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Changes to Entrepreneurs’ Relief can catch the unwary

“Entrepreneurs’ Relief (ER) gives a reduced rate of Capital Gains Tax of 10% to business owners, providing certain conditions are met”, says Brearley & Co Tax Manager, Andrew Cowe.  “However since April 2019, two significant changes to those conditions have been in place.”

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