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HMRC criticised for lack of MTD exemption guidance

With close to 100 days before Making Tax Digital (MTD) for VAT becomes compulsory, HMRC has come under fire for its failure to publish detailed guidance on when and how to claim exemptions from the new rules

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Productivity amongst small businesses ‘held back by poor broadband’

The Federation of Small Businesses (FSB) has warned that productivity amongst UK small firms is 'still being held back' by poor broadband and mobile coverage.

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HMRC delays MTD for business due to Brexit

HMRC is to continue rolling out Making Tax Digital (MTD) for VAT but has warned that the wider extension of the MTD programme for businesses will be delayed as IT developers are refocused on Brexit customs delivery

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Employers urged to consider the tax implications of a seasonal party

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged employers to consider the tax implications associated with a seasonal party.

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‘Bad payment practices lead to SME failures’, report suggests

A new report published by the Business, Energy and Industrial Strategy (BEIS) Committee has highlighted how 'bad payment practices' have led to the 'failure' of many small and medium-sized enterprises (SMEs)

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£8m fund for post-Brexit customs support

Ahead of the UK leaving the EU next March, HMRC and the Treasury have announced an £8m funding scheme for customs intermediaries and traders

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HMRC advisory fuel rates for company car users from 1 December

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 December 2018 The advisory fuel rates apply from 1 December 2018 and have slightly increased on the previous quarter rates.

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HMRC nets £154m in first six months of sugar tax

HMRC has released the latest statistics on turnover from the soft drinks industry levy (SDIL), commonly known as the sugar tax, introduced in April 2018 and intended to encourage manufacturers to reduce the sugar content in their drinks

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Business groups react to draft Brexit deal

Business groups have reacted to the government’s draft Brexit deal with the EU.

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Small businesses urged to apply for broadband vouchers

The government is strongly recommending that small and medium-sized enterprises (SMEs) make use of a £2,500 voucher to help with installing high-speed broadband and increase rural communities' access to the internet

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Bringing Tax into the 21st Century – Making Tax Digital

In a world where customers and suppliers are already banking, paying bills and shopping on-line, it makes sense for HMRC and businesses to bring tax affairs fully into the 21st century..

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FCA grants more SMEs access to Financial Ombudsman Service

The Financial Conduct Authority (FCA) has confirmed plans to extend the Financial Ombudsman Service to a greater number of small and medium-sized enterprises (SMEs).

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Making Tax Digital for VAT pilot open for business

A pilot for a new online VAT service was launched on 16 October, with HM Revenue & Customs (HMRC) inviting more than half a million businesses to try it ahead of new rules coming into force in April 2019.

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Tax reliefs fuel creative industry boom

Tax reliefs across film, high-end television, video games, animation programmes, and children’s TV are powering record levels of production in the UK

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Spike in business’s assets seized for tax payments

Over the last twelve months there has been a 45% jump in the number of businesses that have had their assets seized by HMRC to settle tax bills

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Bank of England to print polymer £50 banknote

The Treasury has announced it is to retain the £50 note - which has come under criticism over the role of high value notes in illicit transactions - but is to issue a new, more secure polymer version

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Business rates ‘could be changed’ to help high street retailers

Business Secretary Greg Clark has suggested that business rates 'could be changed' in order to help high street retailers in the UK.

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Fuel duty freeze to continue

The government has frozen fuel duty for the ninth year in a row in a move that it says will make life easier for ‘hardworking families’

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R&D tax relief claims soar to £3.7bn

Claims for research and development (R&D) tax relief have soared in recent years, reaching £3.7bn in 2015-16, an increase of 25% from the previous year, while so far £3.5bn has been claimed for 2016-17, according to the latest statistics from HMRC

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Our “Top 10” tax saving hints for small businesses

Taxes are one of the most important issues facing small and growing businesses. Here, Brearley & Co Tax Manager Andrew Cowe gives his Top Ten tax saving hints for small businesses.

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