Labour Party announces 100 per cent fines for tax avoidance

The labour party has said that it will introduce tougher penalties for tax avoidance if it is elected at the next general election – including fines totalling as much as 100 per cent of the amount avoided.

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Bank of England figures signal end of economic squeeze

Official figures from the Bank of England have shown salaries rose more than prices in the month of September; the first time average earnings have risen above CPI inflation since the start of the recession. 

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More local authorities are spending with SMEs

The government currently spends around £187 million on goods and services from SMEs each year, but this figure could be set to rise as Whitehall has set a new 25 per cent target for public sector spending on SMEs next

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North beats South in average business turnover

New research conducted by the ICAEW Business Advice Service has revealed the average turnover for a British business as £505,644.33.  The findings are based on analyses from the BAS Business Heat Map, which monitors annual turnover of businesses according to

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Tax avoidance only counts for nine per cent of the UK’s tax gap

The UK’s tax gap, the difference between the amount due to H.M.Revenue and Custom (HMRC) and the amount it manages to collect, rose by £1billion between 2011-12 and 2012-13.

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HMRC taking tougher line on tax penalties

Evidence has emerged that HMRC is taking a tougher approach to penalties that are levied on individuals found to be infringing regulation after a tax investigation.  

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One-in-five SMEs have shrunk in last three months

As many as one in five small to medium enterprises (SMEs) in the UK have shrunk over the last three months, according to Zurich’s latest quarterly SME Risk Index.

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SME lending driven to new £1.25bn record

New lenders flooding the market have led to a surge in the amount of money lent to SMEs, according to the National Association of Commercial Finance Brokers (NACFB), the trade body for finance brokers. 

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UK manufacturing at three-month high for growth

UK manufacturing has grown at the fastest pace in three months, a recent report by the Markit UK manufacturing Purchasing Managers’ Index (PMI) has shown. 

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