The Government’s long-awaited responses to six consultations about Making Tax Digital (MTD) which were originally opened in August 2016 have now been published. Read more
The amount of cash collected by HM Revenue & Customs (HMRC) from its investigations into large businesses and corporations has fallen by £3.5billion year-on-year, according to a new report. Read more
Self-employed people earn more money, work less, and are happier, according to new research published this week. Read more
A list of some of the silliest expense claims featured in recent self-assessment tax returns has been published by HM Revenue & Customs (HMRC). Read more
Key UK regions and industries witnessed standout wage growth in the final three months of 2016, according to new research from online job board CV-Library.
The study, which looked at salary growth across the UK, found that pay in the North West of England grew by 14.2 per cent, while pay in recruitment grew 17.5 per cent compared to the same period the year before.
Wales (6.8 per cent), East Midlands (3.9 per cent) and the North East (3.5 per cent) followed in the regions of highest growth.
Likewise, the legal (8.7 per cent), hospitality (6.7 per cent), and property (5.7 per cent) sectors all posted an increase in wage growth compared to the year previous.
|North West +14.2%||Recruitment +17.5%|
|Wales +6.8%||Legal +8.7%|
|East Midlands +3.9%||Hospitality +6.7%|
|North East +3.5%||Property +5.7%|
|Scotland +2.6%||Accounting/Finance +4.8%|
Lee Biggins, founder and managing director of CV-Library, suggests that “widespread skill shortages” across the UK are pressing businesses to increase salaries.
“Businesses in these cities and sectors have clearly recognised the need to push up salaries ahead of the New Year rush in order to attract new recruits and it is hoped that we will see this strategy pay off in next quarter’s data,” he said.
“2016 was a turbulent year for the economy, but the fact that organisations are showing signs of investing in their current and future workforce is a positive indication for the labour market in 2017. We expect to see job and application figures pick up next quarter, as business and candidate confidence strengthens.”
A new study suggests that 31 per cent of small business owners do not know how to correctly submit their tax return, while 27 per cent did not think that they were required to submit one at all. Read more
Compliance teams at HM Revenue & Customs (HMRC) are shifting their focus towards small and medium-sized enterprises (SMEs) – many of which are unprepared for close scrutiny, according to reports. Read more
The UK’s retail sector recorded the sharpest fall in sales for more than four and a half years, official figures have revealed. Read more
A new survey of self-employed workers and business owners suggests that only six per cent are aware of the Government’s imminent Making Tax Digital (MTD) project – which will make quarterly digital reporting mandatory for the majority of businesses. Read more
The Chancellor is floating the possibly of a marriage tax allowance reform after a survey revealed that three times as many people thought it should increase the threshold in which a partner starts paying tax. Read more
The Government must respond to a 50-page report calling for an immediate delay to Making Tax Digital (MTD), which has been put forward by MPs in the Treasury Committee. Read more
A new study has revealed the fastest-growing regions across the UK in terms of business activity, employment and economic growth. Read more
The total value of reported fraud in 2016 grew by 31.5 per cent to £2 billion, a new study has revealed. Read more
HM Revenue & Customs (HMRC) will use a newly-developed ‘supercomputer’ to gather additional data about taxpayers and identify those who may not be correctly declaring their income, according to reports. Read more
The ten most bizarre excuses used by bosses found to have underpaid workers have been revealed.
The list, released by HM Revenue & Customs today, details the sometimes strange, sometimes extraordinary reasons employers gave for not paying the Government’s National Minimum Wage (NMW).
The NMW entitles all workers over the age of 25 to a minimum of £7.20 per hour, increasing to £7.50 per hour this April.
And not paying it can result in significant fines – and a very unhappy workforce.
The top ten excuses
- The employee wasn’t a good worker so I didn’t think they deserved to be paid the National Minimum Wage.
- It’s part of UK culture not to pay young workers for the first 3 months as they have to prove their ‘worth’ first.
- I thought it was ok to pay foreign workers below the National Minimum Wage as they aren’t British and therefore don’t have the right to be paid it.
- She doesn’t deserve the National Minimum Wage because she only makes the teas and sweeps the floors.
- I’ve got an agreement with my workers that I won’t pay them the National Minimum Wage; they understand and they even signed a contract to this effect.
- My accountant and I speak a different language – he doesn’t understand me and that’s why he doesn’t pay my workers the correct wages.
- My workers like to think of themselves as being self-employed and the National Minimum Wage doesn’t apply to people who work for themselves.
- My workers are often just on standby when there are no customers in the shop; I only pay them for when they’re actually serving someone.
- My employee is still learning so they aren’t entitled to the National Minimum Wage.
- The National Minimum Wage doesn’t apply to my business.