Government to simplify corporate tax regime for small businesses

08 Nov 2019

The Treasury has today responded to the Office of Tax Simplification’s (OTS) major new report, simplifying tax for smaller businesses.

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Making Tax Digital: what happens next?

11 Sep 2019

Making Tax Digital (MTD) for VAT was launched in April 2019, which means that hundreds of thousands of businesses are now recording and reporting their accounts digitally to HM Revenue & Customs (HMRC).

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MP’s calling for more to be done to help the high street

21 Feb 2019

MP’s are backing calls for changes to the current tax regime in a bid to halt the current decline in UK high streets and town centres and allow them to flourish in the future.

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Could corporation tax cuts lose the UK £6.2 billion a year?

30 Jan 2019

Although the government has stated that cuts in corporation tax will ultimately increase revenue, HMRC has argued that it could actually cost the public around £6.2 billion a year.

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Reminder on changes to Corporation Tax notices

15 Aug 2018

On 19 September 2016 HM Revenue & Customs (HMRC) decided to stop sending out paper copies of several important documents relating to Corporation Tax. Despite this move taking place nearly two years ago, a quick search online indicates that many taxpayers are not aware that HMRC has changed some of its administration procedures for Corporation […]

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Record high of £14.6bn paid in corporation tax by UK financial services sector

13 Aug 2018

The UK financial services (FS) sector paid a record high of £14.6 billion worth of corporation tax (including Bank Levy) in the last year, up 24 per cent from the £11.8bn paid during the 2015/16 financial year according to industry figures.

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Third of taxpayers yet to complete Self Assessment with just one week to go

24 Jan 2018

Almost a third of tax returns are outstanding with just a week to go before the January Self Assessment deadline, HM Revenue & Customs (HMRC) has revealed. In a recent update, the tax office said there are over three million customers – those who don’t pay tax through the PAYE system – yet to complete […]

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HMRC offers support to those affected by Carillion collapse ahead of January self-assessment deadline

22 Jan 2018

HM Revenue & Customs (HMRC) will offer support to those affected by the Carillion collapse ahead of the 31 January tax return deadline. The tax office said it will provide practical advice and guidance to those affected through its Business Payment Support Service (BPSS). The most recent figures suggest that up to 30,000 subcontractors are […]

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Receipts rise as Corporation Tax rates fall

12 Jun 2017

Corporation Tax receipts reached a record high in the 2016-17 financial year, with a total of £56 billion collected, a 21 per cent year-on-year increase. These record figures come despite the main rate of Corporation Tax falling from 30 per cent 2008 to 19 per cent in 2017-18. The most obvious driver for this increased […]

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Amy Sharples, our staff accountant, says…

16 Dec 2015

Tax at Christmas As Christmas is nearly upon us once again, I thought I’d give a quick reminder of the tax treatment of seasonal gifts and benefits to staff. VAT In general, input VAT on entertaining is not recoverable, however employee entertaining is. So if you’re treating your employees to a Christmas party you can […]

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