Blog

HMRC defends Making Tax Digital timescale at House of Lords - 23 February 2017

Taxpayers, businesses and HM Revenue & Customs (HMRC) alike will “learn very quickly” from the Government’s year-long Making Tax Digital (MTD) pilot scheme, which will be phased in from April this year. The comments come from Jim Harra, director general

Large companies must reveal how quickly they pay suppliers, Government announce - 22 February 2017

From 06 April 2017, all large companies with a turnover of £36 million or more will be forced to publish twice-yearly payment practice reports. Experts estimate that the ‘Duty to Report’ legislation, which will force LLPs and companies to detail

SMEs spending too much time on administrative tasks, says study - 21 February 2017

New research suggests that UK small and medium-sized enterprises (SMEs) are spending an average of more than four hours a week completing administrative and finance-related tasks – and losing approximately £8.72billion every year as a result.

7.4 million taxpayers now using HMRC’s digital personal tax accounts, says study - 20 February 2017

HM Revenue & Customs (HMRC) has hailed its new personal tax accounts (PTAs) ‘a success’, after data revealed that more 7.4 million taxpayers had signed up for its digital accounts by the end of 2016. According to reports, the Revenue’s

EU proposes markedly lower country-by-country reporting threshold - 17 February 2017

The European Courts are considering a move to lower the threshold in which businesses must report country-by-country revenues, it has emerged. Targeting a much wider group of multinationals, the threshold could be reduced from €750m (£637m) to just €40m (£34m).

Legal fee ‘cap’ proposed for law firms involved in NHS negligence claims - 16 February 2017

Reports suggest that the Government will introduce a cap on recoverable legal fees for law firms involved in NHS negligence claims. According to a new consultation paper, the fee a law firm can recover in an NHS negligence claim will

Law Society says Brexit negotiations must ‘preserve the rights’ of the legal sector - 16 February 2017

In a report entitled Brexit and the law, the Law Society has called upon the Government to ‘preserve the rights’ of the UK’s £26billion legal sector during Brexit negotiations with the European Union (EU). The full report, which can be

Solicitors will need to publish fees, says SRA - 16 February 2017

Under new proposals, solicitors and law firms will need to publish their fees for a range of popular services such as conveyancing and the drafting of a Will, the Solicitors Regulation Authority (SRA) has confirmed. The SRA has said that

Crack down on unpaid CGT raises £140m for HMRC - 16 February 2017

New research suggests that investigations into unpaid Capital Gains Tax (CGT) managed to raise an additional £140million for HM Revenue & Customs (HMRC) over the course of the last financial year. The news comes as part of an ongoing crackdown

Spiralling business rates close four pubs every day - 15 February 2017

Around four pubs close their doors every day in the face of rising business rates, a new study has revealed.