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‘True costs’ of Making Tax Digital still unclear, says Treasury Committee - 28 March 2017

The Treasury Committee has again called on HM Revenue & Customs (HMRC) to provide greater clarity on the true costs of Making Tax Digital (MTD) for small and medium-sized enterprises (SMEs). Chairman of the Committee, Andrew Tyrie MP, has said

12 per cent rise in winding-up applications to recover unpaid tax - 27 March 2017

A new study suggests that the number of winding-up applications issued by HM Revenue & Customs (HMRC) to small and medium-sized enterprises (SMEs) is on the rise. According to business financier Funding Options, 3,906 such applications were issued to SMEs

New technology to see cheques clear within one working day - 24 March 2017

From October this year, businesses that pay cheques into their accounts will be able to get the money cleared within one working day.

Tax-free childcare coming this April - 23 March 2017

From 28 April this year, parents with young children will be able to claim tax-free childcare against their yearly income. The Childcare Choices scheme is designed for working parents with children under 12 – or for disabled children under 17.

Inflation rises past BoE’s two per cent target - 22 March 2017

The UK’s inflation rate jumped from 1.8 per cent in January to 2.3 per cent in February, the Office for National Statistics (ONS) has revealed.

Fines of up to £3,000 for failure to comply with Making Tax Digital, says HMRC - 21 March 2017

Taxpayers who fail to use Making Tax Digital, the Government’s all-new digital tax system, will face fines of up to £3,000, according to a consultation paper released today. Making Tax Digital will see the end of the paper tax return

Consultation on late submission penalties for MTD - 21 March 2017

HM Revenue & Customs (HMRC) has opened a consultation on penalties for firms that either submit records late under the Making Tax Digital (MTD) scheme or do not pay on time. When HMRC consulted on its compliance powers last year,

Fines of up to £3,000 for failure to comply with Making Tax Digital, says HMRC - 21 March 2017

Taxpayers who fail to use Making Tax Digital, the Government’s all-new digital tax system, will face fines of up to £3,000, according to a consultation paper released today. Making Tax Digital will see the end of the paper tax return

Country’s wealthiest burdened by increasing taxes, says study - 20 March 2017

The tax burden on the country’s wealthiest individuals has nearly tripled since the 1970s, a study has revealed. The research, published by the Daily Telegraph, revealed that the top one per cent of income taxpayers – who earn more than

21 million savers to lose out from Premium Bond cuts - 20 March 2017

National Savings and Investments (NS&I), the organisation behind Premium Bonds, has said that savers will have a slimmer chance of winning some of the biggest Premium Bond prizes from May. As part of a wider cut in interest rates across