Business news

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

Pensioner income overtakes working households - 20 March 2017

A new study by the Resolution Foundation for the Intergenerational Commission has revealed that the income of pensioners has overtaken that of working age households for the first time. According to the report, entitled As Time Goes By, typical pensioner

Government offers tax allowance for pension advice - 20 March 2017

From April this year those saving into a pension will be able to access up to £1,500 from their pot, tax-free, to help them pay for financial advice. The new Pension Advice Allowance – announced in last year’s Autumn Statement

This is what entrepreneurs love about being their own boss - 17 March 2017

Owners of small and medium-sized businesses (SMEs) have shared what they love about running their own business