VAT is currently the third largest source of revenue in the UK, but unlike other areas of taxation how it is recorded and collected differs significantly for businesses. This complex area of tax is often one that we are questioned
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
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
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
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 (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 gov.uk website that company directors should
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
According to industry experts, businesses in the UK are “praying” that MPs do everything they can to avoid a no-deal Brexit, including pushing the decision date back.
Flexible working is at the top of the list of the most desired benefits for people working in small and medium-sized enterprises (SMEs), according to new research – with more than two fifths saying that this is their favourite benefit.
A recent report has found that more than half of the UK’s employers either do not know or do not record the percentage of payroll represented by sickness absence cost per annum. The report found that only 45 per cent