Business news

Support scheme creates 60,000 new bosses - 13 January 2015

Hundreds of people became their own boss every week over the last year after receiving support from a government scheme. More than 450 new businesses were set up each week in 2014 through the New Enterprise Allowance (NEA), which supports

Accelerated payment notices score 99% success rate - 13 January 2015

HM Revenue & Customs (HMRC) says it has secured almost all the disputed tax due from the first group of tax avoidance scheme users to receive accelerated payment notices. About 30 people were told in late August they had 90

Tax experts back change on digital firms - 13 January 2015

Tax experts have welcomed a government move that will prevent thousands of small businesses needing to register for European VAT from having to charge customers UK VAT, provided their relevant turnover remains below the £81,000 threshold. HM Revenue & Customs

Autumn Statement 2014 - 3 December 2014

This was the final Autumn Statement of the current Parliament ahead of the election in May 2015. Delivered with passion, George Osborne hailed the UK as having “the fastest growing major advanced economy in the world”. He announced that the

Tax debt recovery safeguards strengthened - 2 December 2014

The government says it has improved safeguards to protect vulnerable taxpayers in its plans to recover tax and tax credit debts directly from taxpayers’ bank accounts. Direct Recovery of Debts (DRD) will give HM Revenue & Customs (HMRC) the ability

856,000 claim Employment Allowance - 2 December 2014

Almost one million employers are benefitting from the Employment Allowance across the UK, according to new figures. Introduced in April 2014, the allowance is available to businesses, charities and amateur sports clubs and allows employers to reduce their class 1

Tax tribunals backlog hits new high - 2 December 2014

The backlog of tax disputes waiting to be heard has reached a record high, new research has found. Law firm Pinsent Masons said on 25 November that 27,246 cases were waiting to be heard in the tax tribunals in the