The Economic Affairs Committee has warned HMRC that UK small businesses ‘could pay a heavy price’ for Making Tax Digital for VAT (MTD for VAT). In a new report, the Committee stated that HMRC has ‘failed to adequately support small businesses’ ahead of the introduction of MTD for VAT. The initiative is set to come […]
Data published by HMRC has revealed that first-time homebuyers have collectively ‘saved £426 million’ as a result of changes to Stamp Duty Land Tax (SDLT). In the 2017 Autumn Budget, Chancellor Philip Hammond announced a new exemption from SDLT for most first-time homebuyers. From 22 November 2017, first-time buyers in England and Northern Ireland paying […]
A survey carried out by insurance firm Prudential has suggested that over half of self-employed workers would back plans to expand pensions auto-enrolment, or make pension saving compulsory. According to the survey, 27% of those polled would support the expansion of pensions auto-enrolment to cover the self-employed, and an additional 27% would back compulsory pension […]
The government is urging small businesses to make use of so-called ‘broadband vouchers’, which are worth £2,500. The Gigabit Broadband Voucher Scheme helps small firms in covering the cost of installing a full fibre, gigabit-capable connection. The government intended for the scheme to run until March 2021, but ‘high demand’ for the vouchers means that […]
Data has revealed that the Soft Drinks Industry Levy generated £153.8 million for HMRC in the year-to-date, up to the end of October. First announced in the 2016 Budget, the Levy came into effect from April 2018. It was introduced as part of a package of measures designed to combat childhood obesity. The Soft Drinks […]
Prime Minister Theresa May has created five new ‘Brexit business councils’, which will provide UK firms with advice and support in regard to creating the ‘best business conditions’ post-Brexit. According to the government, each council will meet three times per year in order to supply ‘high-level advice’ on issues surrounding Brexit and business. Each council […]
The government has unveiled significant changes to probate fees, which could result in owners of high-value properties paying nearly £6,000 more. As part of the government’s plans, from April 2019 a banded system of probate fees will be introduced for estates with a value above £50,000. The government stated that, by increasing the estate value […]
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