National Audit Office leads independent review of controversial Loan Charge

A major regulator will lead an independent review into the controversial Loan Charge scheme after concerns that taxpayers were “not ready” to face the penalty.

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Making Tax Digital: what happens next?

Making Tax Digital (MTD) for VAT was launched in April 2019, which means that hundreds of thousands of businesses are now recording and reporting their accounts digitally to HM Revenue & Customs (HMRC).

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What happens if I don’t understand VAT?

What your business needs to know about VAT…

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New council to increase access to small business finance, says minister

A new enterprise scheme will help small and medium-sized businesses to access finance and take advantage of post-Brexit business opportunities, it has been revealed.

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Thousand-year-old coin collection is the earliest form of tax fraud

A thousand-year-old collection of Norman coins has been revealed as the earliest form of tax evasion.

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Small businesses raise millions through Bank Referral Scheme, figures show

More than 1,700 businesses have been granted alternative finance options through the Bank Referral Scheme (BRS) after being turned down for traditional business loans, new figures reveal.

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HMRC publishes IR35 guidance

HM Revenue & Customs (HMRC) has published its first in-depth guidance for off-payroll workers (IR35) and how they will operate in the private sector.

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UK creative sector receives more than £1.1 billion in tax relief

The UK’s creative industries received more than £1.1 billion in sector-specific tax reliefs in the last year, according to the latest research.

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CIOT urges HMRC to delay VAT reverse charge for the construction industry

The Chartered Institute of Taxation (CIOT) is urging HM Revenue & Customs (HMRC) to delay the introduction of the VAT reverse charge for the construction industry.

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HMRC to investigate cryptocurrency investors over tax payments, report reveals

HM Revenue & Customs (HMRC) plans to investigate cryptocurrency investors in a bid to crackdown on tax evasion, a report suggests.

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Half of all SMEs make VAT return mistakes

Half of all small-medium sized enterprises (SMEs) make errors when filing their VAT returns, according to the latest research.

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Freeports to “boost investment” in UK after Brexit, say policymakers

The Government will establish 10 new ‘Freeports’ in a bid to boost growth and encourage trade after the UK leaves the EU.

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The number of company insolvencies reaches highest level in five years

The number of company insolvencies has reached the highest level since 2014, according to the latest data.

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New rules to crack down on ‘phoenix companies’ confirmed for April 2020

Company directors who attempt to “sidestep” their tax liabilities by forcing their company into insolvency will face tougher penalties from next year.

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HMRC collects £122 million in overseas tax following CRS rule change

HM Revenue & Customs (HMRC) collected £122 million in extra tax from overseas assets in the 2018/19 tax year, following the introduction of the new Common Reporting Standard (CRS) tax regime.

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