Business news

Autumn Budget 2018 - 29 October 2018

The sun was already edging behind the London skyline by the time Chancellor Philip Hammond rose to the despatch box to deliver the first Monday Budget since 1962 – pushed back to 3.30pm because of later Parliamentary sitting times on

CIOT reports increase in R40 refund errors - 2 October 2018

According to a new report by the Chartered Institute of Taxation (CIOT), there have been a growing number of R40 computation errors on refunds processed by HM Revenue & Customs (HMRC). Individuals can use R40 forms to claim tax refunds

Workers miss out on £15.6 million in pay through minimum wage breaches - 2 October 2018

Minimum wage breaches, including breaches of the National Living Wage, have cost workers from across the UK a combined total of £15.6 million in lost wages. Figures released by the Government show that around 200,000 workers were affected in 2017/18,

HMRC finally launches MTD communications plan and simplified guidance - 2 October 2018

With only six months left until the launch of Making Tax Digital for VAT, HM Revenue & Customs (HMRC) has finally begun sharing information with businesses about the new regime. While accountants and professional advisers across the UK have been

Micro businesses bear the brunt of late payments - 2 October 2018

Recent research has shown that micro businesses are bearing the brunt of late payments, with just 52 per cent of the invoices they issue being paid on time. However, the research found significant regional variation, with 68 per cent of

HMRC investigates estate valuations as part of IHT campaign - 2 October 2018

The number of investigations conducted against estates thought to be avoiding Inheritance Tax (IHT) has increased, according to new data from HM Revenue & Customs (HMRC). The tax authority has revealed that 5,400 estates were investigated during the 2017/18 tax

Government backed tax-free savings plan to help savers earn 50p on every £1 - 2 October 2018

The Government has launched a new savings account that offers savers a 50 per cent tax-free bonus on the money they deposit. The new Help to Save account will offer savers up to 50p for every £1 that they save,