Business news

Payroll sector prepares for key changes in 2019/20 - 12 February 2019

The next 12 months will see a number of new changes to payroll policy that could have an impact on a wide range of businesses. To give an overview of how businesses could be affected by these changes, below are

Entrepreneurs’ Relief changes fail to meet up to the test - 12 February 2019

During the last Budget, the Government announced new conditions to entrepreneurs’ relief that would take immediate effect to change the definition of a “personal company” for shareholders who claim entrepreneurs’ relief. By introducing these changes, they hope to restrict shareholders

Just over half of businesses are prepared for Making Tax Digital - 12 February 2019

A new study into preparations for Making Tax Digital amongst businesses has found that only 57 per cent of firms are ready to comply with the new regime by 1 April 2019. Despite the various delays and changes to the

Late payers to be flagged up to businesses under new proposals - 12 February 2019

The Small Business Commissioner, Paul Uppal, has recommended a new “traffic light” system that will warn smaller firms which businesses have a consistent record of late payment and those most likely to request longer payment terms. It is thought that

HM Revenue & Customs drops insistence that all company directors must submit tax returns - 12 February 2019

HM Revenue & Customs (HMRC) has dropped its insistence that all company directors must submit tax returns following a series of tribunal rulings. For several years, HMRC has advised in its guidance on the website that company directors should

Automatic Enrolment contributions to increase - 12 February 2019

The next increase in Automatic Enrolment (AE) pension contributions for both employees and employers will take place from 6 April 2019. The minimum employer contribution will increase from two per cent to three per cent, while the employee contribution will

HMRC’s urgent advice to exclusively EU trading businesses - 21 January 2019

With the UK departing the EU on 29 March and still no concrete deal, HMRC has sent an urgent letter to businesses that deal with the EU advising them on how to prepare for a no-deal Brexit. We published a