House of Lords calls for a delay to Making Tax Digital

The House of Lords Economic Affairs Committee has criticised HM Revenue & Customs (HMRC) for its handling of Making Tax Digital (MTD) and called for a delay to some of the regime’s mandatory requirements. The majority of VAT-registered businesses with taxable turnover above the VAT registration threshold of £85,000 will need to keep digital records…

Unwrapping Seasonal tax gifts

This is a time of year for giving, but many businesses may not be aware that their gifts can be made in a tax-efficient manner, which could make raising festive spirits that little bit cheaper. While end-of-year parties may not be for everyone, HM Revenue & Customs (HMRC) does provide an allowable tax deduction of…

Big increase in P2P lending

The fifth annual UK Alternative Finance Industry Report has revealed a 65 per cent year-on-year increase in peer-to-peer (P2P) lending. The P2P lending market is now worth £2 billion and small and medium-sized enterprises (SMEs) appear to be the dominant force behind it. To put the rise of P2P lending into context, its value is…