Under new rules set by the Government, the system of penalties for VAT and Income Tax Self-Assessment (ITSA) are changing. The new system of fines is aimed at tackling non-compliance by taxpayers who
Small and medium-sized enterprises (SMEs) are the lifeblood of the country, accounting for 99.9 per cent of all businesses across the UK. At the start of 2021, there were estimated to be 5.6
The 2023-24 tax year may seem a long way off, but it is important that companies are prepared for changes to the system a little more than year down the line. The main
Whether it is down to the spread of the Coronavirus or just a general trend to a more cashless society, card payments have boomed in the last couple of years. While restrictions were
Taxpayers who are unable to pay their Self-Assessment (SA) bill can use the option of paying by instalments with a Time to Pay arrangement with HM Revenue & Customs (HMRC). If you cannot
Well according to a recent Employment Appeals Tribunal (EAT), yes, they should. In this latest case, a taxi driver in Watford was employed by a firm, which dictated that as part of his
Self-Assessment taxpayers have been warned to be on their guard against fraudsters trying to steal their information. Over the last year, HM Revenue & Customs (HMRC) received nearly 900,000 reports from the public
Campaigners are angry over the fact that more and more people will be drawn into paying Inheritance Tax (IHT), after a big rise in receipts. They are angry that Chancellor Rishi Sunak has
Every year many of us decide to set a New Year’s resolution. Perhaps it is losing weight, going vegetarian or putting extra money away in your savings. Of course, inevitably, life can get
The final stage of Making Tax Digital (MTD) for VAT is just a few short months away. From 1 April 2022, even the smallest VAT registered business will need to comply with the
