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.
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.
The UK’s retail sector recorded the sharpest fall in sales for more than four and a half years, official figures have revealed.
The latest data from the Council of Mortgage Lenders (CML) suggests that buy-to-let lending recently reached its highest level since an unfavourable three per cent Stamp Duty Land Tax (SDLT) surcharge payable upon additional property purchases was introduced in April 2016.
HM Revenue & Customs (HMRC) has said that councils will be able to charge VAT on CON29 local authority searches from the 1 February 2017.
In an interview last weekend with German newspaper Welt am Sonntag, Chancellor Philip Hammond suggested that the UK could become a corporate tax haven if Brussels fails to negotiate on the proposals set out by Prime Minister Theresa May this week.
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.
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.
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.
According to a recent survey, Chancellor Philip Hammond is being urged to increase the marriage tax allowance, even though as many as 3.1 million out of 4.2 million couples are failing to apply for it. However, for those looking for every possible way to reduce their tax bill, there are other tax breaks that can
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