Business news

Self-employed workers may miss out on mortgages due to changes in delivery of SA302 forms

15 Sep 2017

Self-employed workers in the UK have reported their struggles to acquire a mortgage, after HM Revenue & Customs (HMRC) changed the way it issues details of tax calculations and tax year overviews for submission with mortgage applications. Until recently accountants … Continue reading

Revenue’s crackdown on VAT evaders yields £3.4 billion from small and medium firms

15 Sep 2017

New analysis of HM Revenue & Customs’ (HMRC’s) data has revealed that the department collected an additional £3.4 billion from small and medium-sized businesses in the tax year to April 2017. Investigations in the 2016/17 tax year by HMRC’s compliance … Continue reading

HMRC launches new online forum to give small business owners direct tax advice

15 Sep 2017

A new online forum has been launched by HM Revenue & Customs (HMRC) which has been designed to help company owners resolve simple issues related to starting and growing a company. The new website provides a message board, discussions and … Continue reading

Taxpayers begin to receive simple assessment requests (PA302)

15 Sep 2017

Taxpayers across the UK will have begun to receive a simple assessment (form PA302) from HM Revenue & Customs (HMRC), which will ask for payment of tax that cannot be coded out under PAYE. A simple assessment is a tax … Continue reading

HMRC dynamic coding causes issues for taxpayers

15 Sep 2017

From July this year, HM Revenue & Customs (HMRC) has been utilising its new system of dynamic coding, which allows for in-year adjustments (IYAs) of a person’s tax code. Under the new regime, codes can be adjusted by the Revenue … Continue reading

Government begins to play its hand at the Brexit negotiation table

15 Sep 2017

The Government has begun to publish a number of position papers which aim to set out how it intends to negotiate with the EU during the Brexit process. The proposals, released at the end of August, set out how the … Continue reading

HMRC given an extra £5.3 million to enforce minimum wage compliance

10 Aug 2017

According to the Government’s latest Labour Market Enforcement Strategy report HM Revenue & Customs (HMRC) is to receive an additional £5.3 million of funding in 2017/18 to ensure businesses are paying employees the national minimum wage (NMW) and national living … Continue reading

Credit and debit card charges to be banned as cashless economy grows

10 Aug 2017

From January next year businesses across the UK need to ensure that consumers are no longer being charged extra for paying by debit or credit card, according to new legislation from the Government. It is thought that in 2010 alone … Continue reading

Two fifths of SMEs say investment plans have been negatively affected by Brexit

10 Aug 2017

A new survey from the Confederation of British Industry (CBI) has revealed that more than 40 per cent of UK businesses believe that Brexit has hurt their investment plans. The Confederation’s latest Investment Survey clearly asked 357 companies in the … Continue reading

Taylor report recommends review of cash-in-hand

10 Aug 2017

Cash-in-hand payments should be replaced with technology driven alternatives in the hopes of collecting up to £6 billion more in tax – this is the conclusion of a Government-commissioned review conducted by Matthew Taylor, head of the think-tank the Royal Society … Continue reading

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