Experts welcome more relaxed PAYE penalty regime

Tax experts have welcomed an HM Revenue & Customs’ (HMRC) announcement that it will take a less rigid approach to penalties for employers who provide PAYE information late. HMRC announced on 17 June that rather than issuing late filing penalties automatically to employers whenever they missed a deadline for sending PAYE information, it would take…

VAT guidance updated

HM Revenue & Customs (HMRC) has updated its guidance on how to keep VAT records. The guidance, issued on 22 June, replaces the edition published in December 2007. As well as correcting out of date information, the publication includes new guidance on issuing VAT simplified invoices by businesses other than retailers. Topics covered in the…

Companies House launches new search service

Companies House has launched a new, free of charge search service of digital data held on the UK register of companies. The service provides access to more than 170 million records concerning companies and directors, including financial accounts, company filings and details of directors and company secretaries throughout the life of the company. Companies House…

UK leads way on inward investment

The UK has maintained its position as the number one destination for foreign direct investment (FDI) in Europe after attracting a record number of projects in 2014-15. Annual figures from UK Trade & Investment (UKTI), published on 17 June, revealed that the UK attracted 1,988 FDI projects – 12 per cent more than 2013-14 – which are…