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Making Tax Digital: where are we now?

With Making Tax Digital for VAT (MTD for VAT) set to be introduced in April 2019, the government has published legislation setting out the requirements for the initiative. Read more on the subject here.

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OTS calls for ‘urgent review’ into how UK tax system affects businesses

In a report, the Office of Tax Simplification (OTS) has called for the government to carry out ‘urgent work’ in order to simplify the business tax system for UK firms.

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HMRC – reporting expenses and benefits in kind

HMRC has issued bulletin 71 setting out the key compliance requirements for employers in a bid to force all users to move online. Read more.

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Changes to termination payments could increase employer tax liability

Recent changes to payments in lieu of notice (PILONs) could mean further tax is due from employers when employees leave.

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Top ten tips: 2018/19 tax year reliefs

The new tax year only began on 6 April, but individuals should start planning now to ensure they do not miss out on valuable allowances that could save thousands on allowances and tax reliefs.

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Government publishes ‘sugar tax’ guidance ahead of its introduction on 6 April

Ahead of its introduction on 6 April, the government has published guidance on how to pay the so-called ‘sugar tax’ and file Soft Drinks Industry Levy returns.

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UK wages ‘rising at fastest rate in two years’, data reveals

Data published by the Office for National Statistics (ONS) has revealed that UK wage growth increased to 2.6% during the three months to January – representing the fastest rate of growth since September 2015.

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EU plans for 3% digital tax

The European Commission has announced plans to introduce a 3% tax on digital businesses, likely to hit around 150 companies and bring in some €5bn (£4.4bn) a year

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Government publishes Making Tax Digital for VAT legislation

The government has published the Value Added Tax (Amendment) Regulations 2018, which outline the requirements for Making Tax Digital for VAT.

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Advisory Fuel Rates from 1 March 2018

HMRC has published the latest advisory fuel rates (AFR) for company car users.

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Businesses ‘underestimate’ cybercrime risk

A large proportion of small and medium-sized enterprises (SMEs) and the general public ‘underestimate the threat of cybercrime’.

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Time to consider year end tax planning

With the tax return filed (hopefully) on time, and the bill paid, now is the perfect opportunity to consider how to reduce next year’s liability.

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HMRC Gateway changes on 14th February

As you may be aware the HMRC Gateway will be closing on 14 February 2018.

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Last chance to meet the self assessment deadline

Next Wednesday, 31 January, is the final deadline for the submission of all personal tax returns for 2016/17.

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Carillion – HMRC offers support for businesses affected by liquidation

HMRC is providing practical advice and guidance to businesses affected by the Carillion liquidation through its Business Payment Support Service (BPSS)

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Thinking of starting a business in 2018?

You want much more out of your business that a great set of books and an on-time tax return, don't you?

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40% of taxpayers need help with Making Tax Digital preparations

The majority of small businesses need help with Making Tax Digital with nearly half of the taxpayers (40%) calling for extra guidance. Read about it here.

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Don’t miss the Deadline!

The department is reminding customers to complete their online tax return ahead of the 31 January deadline. Read more about this story here.

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An Inspector Calls – Will You Be Ready?

When HMRC calls they expect to see a variety of documents including payroll records, expenses claims, mileage records and more. Read about it here.

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Interest rates double to 0.5%

The Monetary Policy Committee (MPC) has voted by a majority of 7-2 to increase interest rates to 0.5%. Read our take on this story here!

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