Blog

HMRC will ask thousands of sole traders to ‘trial’ Making Tax Digital this year - 6 February 2017

Approximately 400,000 landlords and sole traders will be asked to ‘trial’ Making Tax Digital (MTD) before October 2017, according to reports. HM Revenue & Customs (HMRC) has said that it will begin to ‘soft launch beta testing’ for MTD from

Businesses encouraged to cash-in older currency - 5 February 2017

From 5 May 2017, the old paper £5 note will no longer be legal tender and may not be accepted in shops and could be refused by banks. After this date retailers and banks need only accept or swap old

Small businesses used to plug tax gap - 3 February 2017

HM Revenue & Customs (HMRC) has been accused of using small and medium-sized businesses to plug the UK’s tax gap, following a report which showed an additional £468 million was generated in tax revenue by SMEs in 2016. The figure,

Cyber security is “number one challenge” impeding digital strategy, say businesses - 3 February 2017

Around 55 per cent of businesses consider security to be the “number one challenge” when it comes to implementing digital technology, a new study has revealed.

Small firms to be helped with bank switching - 2 February 2017

The UK’s large army of small businesses will soon be able to switch their accounts between banks more easily, following changes to bank competition rules. The Bacs Payment Scheme, the organisation responsible for the majority of the UK’s automated payments,

HMRC phone lines “descended into chaos” ahead of tax return deadline day - 2 February 2017

Reports suggest that a “technology failure” left hundreds of thousands of self-assessment taxpayers “uncertain whether tax payments had cleared” on 30 January – the day before the deadline for online tax returns.

NIESR predict significant slowdown in UK economy - 1 February 2017

A think tank has warned of the possibility that the economy may slow down over the next two years in the face of trading uncertainty.

HMRC publishes long-awaited responses to Making Tax Digital consultations - 1 February 2017

The Government’s long-awaited responses to six consultations about Making Tax Digital (MTD) which were originally opened in August 2016 were published at the end of January. Despite ongoing criticisms regarding the proposed short MTD timescale, HM Revenue & Customs (HMRC)

HMRC publishes long-awaited responses to Making Tax Digital consultations - 31 January 2017

The Government’s long-awaited responses to six consultations about Making Tax Digital (MTD) which were originally opened in August 2016 have now been published.

£3.5bn year-on-year fall in cash collected from HMRC tax probes targeted at large businesses - 30 January 2017

The amount of cash collected by HM Revenue & Customs (HMRC) from its investigations into large businesses and corporations has fallen by £3.5billion year-on-year, according to a new report.