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HMRC sitting on £11.9bn in overpaid corporation tax

Businesses overpaid £11.9bn in corporation tax in the last tax year, with HMRC unlikely to address overpayment unless the company realises the mistake

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Business confidence rises for the fifth consecutive month

Optimism amongst UK business leaders over prospects for the UK economy rose for the fifth consecutive month in April, according to a survey conducted by the Institute of Directors (IoD).

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Unsolicited calls selling financial products set to be banned in UK

Unsolicited calls from companies selling financial products are to be banned in the UK, the government has announced.

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Can you create more ‘productive’ time?

For many small business owners, if they have one consistent issue, it would be that there is simply not enough time in the day to achieve all the things that need to be done.

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Pub is the Hub Community Services Fund

Isolation and loneliness are very prevalent in rural areas where transport and amenities are scarce, so Pub is The Hub is making funding available to pubs prepared to support their local residents.

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Giving Shares to Employees

Where companies give shares to employees in the company or group that they work for they will generally be taxed on the difference between the market value of those shares and the amount paid, if any

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UK inflation falls to 10.1% in March

UK inflation has dropped, but remains in double-digit levels, as the cost-of-living crisis eased slightly last month.

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SMEs owed £68k on average by suppliers

Bad debt and insolvencies are on the rise, putting SME futures at risk as almost half of companies have seen business customers cease trading in the last six months

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P11Ds and P11D(b)s to be submitted online only

Starting from 6th April 2023, employers (except for the digitally excluded) will be required to submit and amend forms P11D and P11D(b) online only.

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New tools to help SMEs tackle cyber security

The National Cyber Security Centre (NCSC) has launched new online tools for small organisations to help find and fix any cyber security issues.

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Paper tax returns will no longer be sent to taxpayers

HMRC is writing to 135,000 self assessment taxpayers who file on paper telling them to move online as support for paper filings will be limited

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Tax changes from 1 April 2023

A reminder of the tax changes which have taken effect from 1 April 2023

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Families claiming tax credits to receive Cost of Living Payment from 2 May

One million eligible claimant families receiving tax credits, and no other means-tested benefits, will get the first 2023-24 Cost of Living Payment from Tuesday 2 May 2023, HM Revenue and Customs (HMRC) has confirmed.

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Businesses find VAT rules too complex

Two thirds of companies complain that VAT compliance is complex and confusing as we mark the 50th anniversary of the introduction of the tax

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Employer duties for the change in the tax year

As an employer running payroll, you need to report to HM Revenue and Customs (HMRC) on the previous tax year (which ends on 5 April 2023)

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Plan to raise pension age to 68 dropped

The government has confirmed that it will not go ahead with plans to raise the state pension age to 68

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New UK Version of GDPR

New data laws to cut down paperwork for businesses and reduce cookie pops-up have been introduced by the UK government.

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Bank of England raises UK interest rates to 4.25%

After the rise in inflation to 10.4%, the Bank of England has stepped in with a further 0.25% rise in the interest rate to 4.25%

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The King's Awards for Enterprise

Businesses will soon be invited to apply for the UK's most prestigious business award when applications open in May.

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The Little Book of Net Zero

The British Standards Institution (BSI) has produced a straightforward ‘how to’ guide to help you start your business sustainability journey: ‘The Little Book of Net Zero’.

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