The shift to Making Tax Digital (MTD) will increase the risk of tax overpayments unless Britons become more cautious about their tax affairs, The Institute of Chartered Accountants in England and Wales (ICAEW) has warned.
According to the Office for Budget Responsibility (OBR), changes to pensions brought in since 2010 could cost the public purse around £5bn a year and have made private pensions less attractive than other forms of savings to many workers, particularly higher earners.
A new study has revealed that the number of small, medium and large businesses operating in the UK reached an all-time high at the beginning of this year.
According to a new report from the Department for Business, Energy and Industrial Strategy, the number of private sector businesses in the UK has reached a record high of 5.5 million, a 23 per cent increase on the number in 2010.
The Law Society has criticised new proposals to introduce penalties for ‘enablers’ and ‘facilitators’ of disallowed tax schemes, such as solicitors and accountants.
Business Premises Renovation Allowance (BPRA) will come to an end on 31 March 2017 for businesses and 5 April 2017 for individuals.
A think tank has said that the National Living Wage (NLW) will rise at a slower rate than the Government has predicted – causing the UK to miss its 2020 minimum wage targets.
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