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Treasury commits to keeping cash and coins

The Treasury has confirmed the government’s commitment to safeguarding cash as a method of payment, and is to launch a new group with regulators and the Bank of England

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UK businesses pay 27% of all tax revenue

UK businesses paid nearly £200bn in tax last year, with their contribution amounting to 27% of all tax revenue, according to the CBI which is calling for further tax simplification

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Insolvency: HMRC’s Preferential Creditor Status to be restored

From April 2020, HMRC’s preferential creditor status in insolvencies will be restored and they will have greater priority to recover taxes paid by employees and customers.

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Treasury to introduce code to boost female entrepreneurship

The Treasury has signalled it plans to increase the number of female entrepreneurs in the UK by 50% by asking lenders for details of the gender split of business investments, after research found women face too many barriers to setting up a business

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Government publishes ‘no deal’ Brexit impact assessment

In a new document, the government has assessed the impact of a 'no deal' Brexit scenario on UK businesses and trade.

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MPs want tax changes to support high street retailers

MPs are backing changes to the tax regime to halt the current decline in high streets and town centres and allow them to flourish in the future

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HMRC advisory fuel rates for company car users from 1 March

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 September 2018 with a 4p advisory electricity rate for fully electric cars

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Businesses not ready for Making Tax Digital VAT deadline

Nearly two thirds of businesses (64%) say that Making Tax Digital is a good idea but that they need more support with their plans ahead of the deadline of 1 April for mandatory digital VAT reporting

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Ignore email scams promising fake HMRC tax refunds

Scammers are targeting self assessment taxpayers by email claiming they are entitled to tax refunds and asking for bank details to transfer the money

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BCC publishes list of 20 ‘unanswered’ ‘no deal’ Brexit questions

The British Chambers of Commerce (BCC) has published a list of 20 'unanswered, critical questions' in relation to a 'no deal' Brexit scenario.

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Treasury Committee launches business rates inquiry

The Treasury Committee has launched an inquiry into the UK's business rates system, in order to assess the impact of business rates on firms.

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HMRC confirms Brexit will not affect roll-out of MTD for VAT

HMRC has confirmed that Brexit will not affect the introduction of Making Tax Digital for VAT (MTD for VAT). MTD for VAT will take effect from 1 April 2019

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Self Assessment returns: unbelievable excuses and dubious expenses

A curse by a witch, being too short to reach the post box and cold fingers were among the more outlandish excuses given to HMRC for not completing a tax return on time, with expenses claims for family holidays and 55-inch TVs also being turned down

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£200m extra VAT recovered from online sellers

HMRC has collected over £200m in unpaid VAT from overseas sellers using online marketplaces in the past two years since the introduction of a new regime to tackle tax avoidance which enables it to flag up those who are not registered for VAT

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Business groups respond to outcome of vote on Brexit deal

Business groups have responded to the outcome of the vote on Prime Minister Theresa May's Brexit deal.

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MTD Pilot extended to all eligible businesses

The pilot programme for Making Tax Digital (MTD) for VAT has been extended by HMRC to all businesses that meet the requirements, giving those affected time to test their systems and train staff ahead of the April deadline

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Ban on pensions cold-calling takes effect

From 9 January 2019, the government's new ban on pensions cold-calling takes effect.

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Experts call for introduction of ‘pudding tax’ to combat sugar consumption

Public health experts have called for the introduction of a so-called 'pudding tax' to help tackle high rates of sugar consumption amongst children.

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UK SMEs ‘unmindful of risks posed by cyber-attacks’, poll suggests

A poll commissioned by insurance firm Aon has suggested that UK small and medium-sized enterprises (SMEs) are 'unmindful of the risks' that cyber-attacks and data breaches pose to their business.

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Redesign tax system to help ‘fight against climate change’, says ACCA

The Association of Chartered Certified Accountants (ACCA) has published a report calling on governments to help tackle climate change by redesigning their tax systems.

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