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£16m ‘Brexit boost’ to fund thousands more customs agents

HMRC has announced an extra £16m funding for businesses that will need to train staff to make customs declarations, and to help businesses that support others to trade goods to invest in IT.

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UK manufacturing output ‘stabilised in three months to August’

Manufacturing output in the UK stabilised in the three months to August, according to data published by the Confederation of British Industry (CBI).

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Companies House London office is moving

Companies House is relocating its London information centre to Westminster this autumn

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Cyber-attacks on small businesses cost £4.5 billion

The annual cost of cyber-attacks on UK small businesses is £4.5 billion, according to research conducted by the Federation of Small Businesses (FSB).

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Auto enrolment for post-Brexit EU customs system

HMRC is to automatically enrol VAT-registered UK companies into the economic operator registration and identification (EORI) customs system to reduce the risk of Brexit disruption to trade

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One in 10 businesses miss first MTD for VAT filing deadline

An estimated 120,000 businesses have missed the deadline to sign up for Making Tax Digital for VAT, meaning that technically they should be due a penalty from HMRC

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Government under pressure to launch loan charge review

MPs and contractors are intensifying pressure on the Chancellor to review the loan charge which has seen contractors paying retrospective tax bills on remuneration schemes which were outside PAYE, some dating back 20 years

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Construction industry reverse charge VAT – are you ready?

With less than two months before major changes to VAT invoicing take effect for the construction industry, two thirds of SMEs in the sector know nothing about the new reverse charge regime.

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UK digital businesses ‘struggle with complexity of tax compliance’

Research carried out by HMRC has revealed that UK digital businesses 'struggle with the complexity of tax requirements'.

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Half of small businesses make VAT return errors

Half of small businesses say they have made mistakes when sending in their VAT return and only a quarter are confident they have the figures correct despite spending more than an hour checking

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Company insolvencies hit five-year high

The number of company insolvencies in England and Wales has risen to its highest level in five years, according to the latest data from the Insolvency Service.

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Chancellor urged to ‘take a new approach to making tax policy’

The Chartered Institute of Taxation (CIOT), the Institute for Fiscal Studies (IFS) and the Institute for Government (IfG) have urged Chancellor Sajid Javid to 'take a new approach to making tax policy'

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Changes to Entrepreneurs’ Relief can catch the unwary

“Entrepreneurs’ Relief (ER) gives a reduced rate of Capital Gains Tax of 10% to business owners, providing certain conditions are met”, says Brearley & Co Tax Manager, Andrew Cowe.  “However since April 2019, two significant changes to those conditions have been in place.”

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FMB urges government to delay ‘disruptive’ VAT changes

The Federation of Master Builders (FMB) has urged the government to delay 'disruptive' VAT changes in order to 'avoid construction chaos'.

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Plastic waste tax set for 2022 launch

The Treasury plans to go ahead with plans for a single-use plastic waste tax, covering all plastics and chargeable by weight, although it will not become law for three years

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Many firms ‘support extension of pensions auto-enrolment’

Research carried out by the Confederation of British Industry (CBI) and insurer Scottish Widows has revealed that many UK businesses would like to see the pensions auto-enrolment scheme made available to more workers.

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Household name companies shamed over late payments

Eighteen companies – including BT, British American Tobacco, and Centrica – have been suspended from the Prompt Payment Code (PPC) for failing to pay suppliers on time

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HMRC promises leniency despite slow take up of Making Tax Digital

HMRC has promised not to throw the book at firms who struggle to register for Making Tax Digital (MTD) as new figures show total take-up lagging in certain sectors

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Economic growth ‘stalling’, BCC warns

The British Chambers of Commerce (BCC) has warned that UK economic growth is 'stalling' amid a 'manufacturing slowdown'.

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MPs condemn HMRC for long helpline wait times

MPs have criticised HMRC for the long wait times experienced by taxpayers looking to get through to VAT helplines.

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