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Government abandons increase in probate fees

The UK government has abandoned its planned increase in probate fees.The increase in fees was announced last November

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‘Lessons must be learned’ from loan charge controversy, states ICAEW

The Institute of Chartered Accountants in England and Wales (ICAEW) has stated that 'lessons must be learned' from the controversy surrounding the loan charge.

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R&D tax credit claims up 20%

There has been a 20% increase in the total number of claims for R&D tax credits, according to the latest HMRC figures, primarily driven by a rise in the number of SME claims, with the department forced to add extra resource to meet the demand

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Budget date announced as 6 November

With Brexit negotiations still finely balanced, the Chancellor of the Exchequer is planning to hold a Budget on Wednesday 6 November

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UK productivity suffers worst drop in five years

Productivity in the UK fell at its fastest annual rate for five years during the second quarter of 2019, according to the Office for National Statistics (ONS).

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HMRC ramps up rating system for large company tax compliance

Starting this month, HMRC is introducing Business Risk Review, a new approach to assessing the level of tax compliance at the UK’s biggest companies

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Banking crime cost over £600 million in first half of 2019

Banking customers lost over £600 million to crime during the first half of 2019, according to data from industry group UK Finance.

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Essential tips for SMEs to get ready for Brexit

The government is ramping up its advice for companies as Brexit departure date looms with advice on employee status, professional qualification recognition and data requirements

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120,000 businesses miss first MTD for VAT deadline

Some 120,000 businesses have missed the first deadline for filing under the Making Tax Digital regime, and HMRC has sent out ‘TV licence’-style reminders urging them to do so before next month.

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Chancellor warned over Treasury insolvency ‘cash grab’

Leading business groups and insolvency experts have written to the Chancellor to warn that plans to prioritise repayments to HMRC over repayments to other creditors in insolvencies ‘will have serious consequences for the UK economy’

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Ex NAO chief to lead independent review of loan charge

The former head of the National Audit Office (NAO), Sir Amyas Morse, will head up the independent review into the controversial loan charge

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Snack Tax ‘could be more effective than Soft Drinks Industry Levy’

Researchers compiling evidence for the British Medical Journal (BMJ) have suggested that a 20% 'snack tax' would have a 'huge impact' on obesity levels in the UK.

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Construction industry reverse charge VAT delayed until 2020

HMRC has bowed to pressure and has announced a one-year delay to 2020 to the introduction of reverse charge VAT in the construction sector

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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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