The government is seeking views on ways to make it easier for companies to claim research and development (R&D) tax credits. The tax credit regime provides valuable tax benefits to companies investing in R&D that advances science or technology. Currently, around 15,000 large, medium and small companies claim R&D tax credits, receiving more than £1.4… Read more…

Tax experts have welcomed a government move that will prevent thousands of small businesses needing to register for European VAT from having to charge customers UK VAT, provided their relevant turnover remains below the £81,000 threshold. HM Revenue & Customs (HMRC) has adopted a proposal from the Chartered Institute of Taxation (CIOT) to amend its… Read more…

HM Revenue & Customs (HMRC) says it has secured almost all the disputed tax due from the first group of tax avoidance scheme users to receive accelerated payment notices. About 30 people were told in late August they had 90 days to pay a total of around £29 million of disputed tax up front under… Read more…

Hundreds of people became their own boss every week over the last year after receiving support from a government scheme. More than 450 new businesses were set up each week in 2014 through the New Enterprise Allowance (NEA), which supports people including jobseekers and lone parents. Figures published on 19 December revealed that the NEA… Read more…

HM Revenue & Customs (HMRC) has introduced a new online payment service for customers paying self assessment or VAT tax bills by debit card. HMRC, which launched the service on 15 December, is working in partnership with leading payment company Worldpay on the trial of the new system. Customers can also continue to pay HMRC… Read more…

HM Revenue & Customs (HMRC) is targeting solicitors with a new tax-gathering campaign. The Solicitors’ Tax Campaign, which was launched on 8 December, is the latest in a series of HMRC initiatives giving specific groups of taxpayers the chance to put their tax affairs in order on the best terms available. Previous campaigns, which have… Read more…

Almost 2,000 people filed online tax returns on Christmas Day, according to new HM Revenue & Customs (HMRC) figures. HMRC received 1,773 online tax returns on 25 December, a 13 per cent increase on last year’s total of 1,566. The busiest time for online returns was between midday and 1pm on Christmas Day, when 148… Read more…

This was the final Autumn Statement of the current Parliament ahead of the election in May 2015. Delivered with passion, George Osborne hailed the UK as having “the fastest growing major advanced economy in the world”. He announced that the “long-term economic plan was working” because “against a difficult global background, I can announce a… Read more…

Business Secretary Vince Cable has set up a taskforce to assess the potential impact of an employment appeal tribunal ruling on overtime and holiday pay. The taskforce is made up of representatives from government departments and business groups, including the Confederation of British Industry, British Chambers of Commerce and the Federation of Small Businesses. Dr… Read more…

Thousands of UK businesses supplying digital services to consumers across the European Union (EU) can now register for a new online VAT service. Signing up to the VAT Mini One Stop Shop (VAT MOSS), which started accepting registrations on 20 October, means they will not have to register for VAT separately in each EU member… Read more…