Public pilot of Making Tax Digital for VAT opens
HM Revenue & Customs (HMRC) has opened a public pilot of Making Tax Digital (MTD) for VAT. The pilot is open to sole traders and companies that are up-to-date with VAT, who have not received a default surcharge in the last two years.
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Entrepreneurs’ Relief rules to be tightened
Despite rumours that the Chancellor might scrap Entrepreneurs’ Relief (ER) altogether in the Autumn Budget, Philip Hammond decided to retain the tax relief but has made fundamental changes to who qualifies for it.
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Research reveals Inheritance Tax hotspots across the UK
New research has revealed that the affluent area surrounding Guildford in Surrey has the highest proportion of people paying Inheritance Tax (IHT). The study showed that 658 estates were subject to the tax…
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R&D Tax Credit system to be reviewed in light of fraudulent claims
According to figures released in the Autumn Budget, HM Revenue & Customs (HMRC) has prevented around £300 million of fraudulent R&D tax credit claims since the relief was introduced.
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National Living Wage to rise in April 2019
In his latest Budget speech to the Commons, Chancellor Philip Hammond announced that the National Living Wage and National Minimum Wage would increase from April next year.
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Payee names to be required for bank transfers in effort to combat fraud and errors
From next year, payee names will be checked when making bank transfers in order to ensure that funds are being sent to the correct recipient.
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