The Treasury Committee has launched three separate reviews of the UK tax system, one of which being an investigation into VAT, the tax gap, Brexit, business and good tax policy. Continue reading
Interest rate hike just around the corner
In an interview with BBC Radio 4’s The Today Programme, Mark Carney, Governor of the Bank of England, has hinted that an interest rate rise could be just around the corner. Continue reading
British Business Bank reiterates support for small businesses
A new report from the British Business Bank (BBB) has underlined how important it is for smaller businesses to have diverse sources of funding if they are to increase competition and innovation. Continue reading
Continuation of RTI easement
HM Revenue & Customs (HMRC) has revealed that the easement of the late filing penalty regime for late Full Payment Submission (FPS) will continue until April 2018, having first been introduced as a temporary measure for the 2015-16 tax year. Continue reading
Mid-sized businesses to benefit from new HMRC service
HM Revenue & Customs (HMRC) has unveiled a brand new service for mid-size businesses, which it claims will help growing firms that are eyeing up expansion. Continue reading
VAT receipts help to narrow budget deficit
The UK’s public sector spending deficit dropped to its lowest August level since 2007 after August VAT receipts were boosted by an increase in consumer spending. Continue reading
Businesses urged to prioritise new £1 coin as co-circulation period ends
In just over two weeks, the old £1 coin will lose its status as legal tender, meaning shops and businesses will no longer be obliged to accept it. Continue reading
Farmers welcome transition but need more detail
Farming organisations have welcomed the two-year transition period post Brexit, described by Prime Minister Theresa May in her speech in Florence, but want more details of transitional arrangements to gain the certainty to plan and invest in their businesses. Continue reading
Creative sector outperforms others in higher growth and employment
According to the latest Bazalgette review, the creative sector is a leading UK industry in terms of higher growth and employment, bringing in over £87.5 billion for the UK economy. Continue reading
Married couples missing out on tax breaks
A recent study has found that married couples in the UK are missing out on as much as £1.3 billion by not making the most of a recently introduced tax break that could benefit more than 4 million couples. Continue reading