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Business News

Tackling the late payments epidemic

26th Jun 2018 | Posted by: Suzy Hill

Research published by the Prompt Payment Directory has suggested that many small business owners are ‘struggling financially’ as a consequence of late payments, with 23% of businesses facing bankruptcy or liquidation as a result of such payments.

Report suggests payments by card are ‘now more popular than using cash’

22nd Jun 2018 | Posted by: Suzy Hill

A report published by trade association UK Finance has revealed that, by the end of 2017, more payments were made using debit cards, at 13.2 billion payments, than payments made using cash, which totalled 13.1 billion payments.

Business group urges government to increase VAT registration threshold

7th Jun 2018 | Posted by: Suzy Hill

The Association of Independent Professionals and the Self-Employed (IPSE) has urged the government to increase the VAT registration threshold in order to ‘stimulate small business growth and encourage innovation’.

Rising fuel prices adversely affecting UK businesses

6th Jun 2018 | Posted by: Suzy Hill

The motoring industry has warned that rising prices for both petrol and diesel are adversely affecting UK businesses.

eBay and Amazon pledge to promote VAT compliance

31st May 2018 | Posted by: Suzy Hill

The European arms of Ebay and Amazon have signed an agreement with HMRC to tackle online VAT fraud and promote VAT compliance to users of online marketplaces, although there are only three signatories to the agreement so far

Company directors to face fines for unsolicited calls

31st May 2018 | Posted by: Suzy Hill

The government has outlined new proposals to fine bosses of UK businesses which make unsolicited phone calls. Figures published by regulator Ofcom revealed that consumers received 3.9 billion unsolicited phone calls and texts in 2017.

Online gambling tax rise to offset betting terminal stake cut

18th May 2018 | Posted by: Suzy Hill

The government’s decision to cut the maximum stakes on fixed odds betting terminals (FOBTs) from £100 to £2 is likely to result in a hit to the estimated £450m tax take from the machines each year, with the Treasury looking to increase taxes on online gambling to address the shortfall

UK workers will require pension pot of ‘at least’ £260,000

17th May 2018 | Posted by: Suzy Hill

A study carried out by insurers Royal London has suggested that UK workers will require a pension pot of ‘at least’ £260,000 to ensure a comfortable retirement.

Business owners believe self-employment has ‘improved quality of life’.

16th May 2018 | Posted by: Suzy Hill

A survey carried out by AXA Business Insurance has revealed that a significant number of self-employed individuals believe that working for themselves has ‘improved their quality of life’.

National minimum wage back payments hit £15.6m

10th May 2018 | Posted by: Suzy Hill

The number of national minimum wage (NMW) underpayments has hit a record 200,000 workers in the past year, more than double the previous year’s total.

Abolition of stamp duty for first-time homebuyers ‘benefits 69,000 households’

1st May 2018 | Posted by: Suzy Hill

The abolition of Stamp Duty Land Tax (SDLT) for first-time homebuyers of properties worth under £300,000 has ‘benefitted 69,000 households’, government data has suggested.

Mitigating the spiralling costs of auto -enrolment

26th Apr 2018 | Posted by: Suzy Hill

Salary Sacrifice arrangements may offset the spiralling cost of auto-enrolment, benefiting both employers and workers, says Brearley & Co Tax Manager, Andrew Cowe.

Making Tax Digital: where are we now?

25th Apr 2018 | Posted by: Suzy Hill

With Making Tax Digital for VAT (MTD for VAT) set to be introduced in April 2019, the government has published legislation setting out the requirements for the initiative. Read more on the subject here.

OTS calls for ‘urgent review’ into how UK tax system affects businesses

18th Apr 2018 | Posted by: Suzy Hill

In a report, the Office of Tax Simplification (OTS) has called for the government to carry out ‘urgent work’ in order to simplify the business tax system for UK firms.

HMRC – reporting expenses and benefits in kind

12th Apr 2018 | Posted by: Suzy Hill

HMRC has issued bulletin 71 setting out the key compliance requirements for employers in a bid to force all users to move online. Read more.

Changes to termination payments could increase employer tax liability

12th Apr 2018 | Posted by: Suzy Hill

Recent changes to payments in lieu of notice (PILONs) could mean further tax is due from employers when employees leave.

Top ten tips: 2018/19 tax year reliefs

10th Apr 2018 | Posted by: Suzy Hill

The new tax year only began on 6 April, but individuals should start planning now to ensure they do not miss out on valuable allowances that could save thousands on allowances and tax reliefs.

Government publishes ‘sugar tax’ guidance ahead of its introduction on 6 April

5th Apr 2018 | Posted by: Suzy Hill

Ahead of its introduction on 6 April, the government has published guidance on how to pay the so-called ‘sugar tax’ and file Soft Drinks Industry Levy returns.

UK wages ‘rising at fastest rate in two years’, data reveals

29th Mar 2018 | Posted by: Suzy Hill

Data published by the Office for National Statistics (ONS) has revealed that UK wage growth increased to 2.6% during the three months to January – representing the fastest rate of growth since September 2015.

EU plans for 3% digital tax

27th Mar 2018 | Posted by: Suzy Hill

The European Commission has announced plans to introduce a 3% tax on digital businesses, likely to hit around 150 companies and bring in some €5bn (£4.4bn) a year

Making Tax Digital is coming

Together we'll get you ready for the change. Learn more...

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