The government has now collected a record £1 billion in tax payments from individuals using tax avoidance schemes as a result of new collection rules, according to HMRC. The new rules for accelerated payments, which mean that disputed tax is now paid upfront by...
The system of claiming tax relief on investments should be used by the government to make investment easier and fully realise the potential of existing schemes, a new report by the Institute of Directors (IOD) argues. The report focuses on the Enterprise Investment...
Small business confidence is slowing down, according to the Federation of Small Businesses (FSB). The survey of more than 1,500 businesses found that 58% expect to grow in the next 12 months compared to 65% a year ago. In addition, 22% of firms plan to invest this...
The average UK household pays almost three quarters of a million pounds in taxes over the course of a lifetime, according to research by The Taxpayers’ Alliance (TPA). Analysis of 2013/14 figures from the Office for National Statistics shows that households pay...
HMRC has released further details about how it plans to crack down on offshore tax evasion. Treasury officials announced plans to create a new strict liability offence for offshore tax evasion following Budget 2015 in March. Strict liability refers to a criminal...
The Financial Reporting Council (FRC) has introduced new accounting standards designed to simplify reporting for small and micro businesses. Micro businesses will now have to report to a different standard than small businesses under the new FRS 105, while small...
