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MTD for VAT

Committee warns small firms ‘could pay heavy price’ for MTD for VAT

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 Economic Affairs Committee has warned HMRC that UK small businesses ‘could pay a heavy price’ for Making Tax Digital for VAT (MTD for...

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‘no deal’ Brexit

Brexit deal ‘will cost UK £100 billion per year’ by 2030, study suggests

A study carried out by economic think tank the National Institute for Economic and Social Research (NIESR) has suggested that the government’s Brexit deal will cost the UK £100 billion per year by 2030. The study also indicated that Gross Domestic Product (GDP) will be 3.9% lower by 2030....

A study carried out by economic think tank the National Institute for Economic and Social Research (NIESR) has suggested that the government’s Brexit deal...

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MTD for VAT

OTS calls for overhaul of inheritance tax regime

The Office of Tax Simplification (OTS) has urged HMRC to overhaul the UK’s inheritance tax (IHT) regime. In January 2018, Chancellor Philip Hammond commissioned the OTS to carry out a review of the IHT regime, and outline ways in which the tax can be simplified. In its report, which...

The Office of Tax Simplification (OTS) has urged HMRC to overhaul the UK’s inheritance tax (IHT) regime. In January 2018, Chancellor Philip Hammond commissioned...

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stamp duty

First-time homebuyers ‘saved £426 million’ as result of changes to stamp duty

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...

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...

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sugar tax

Statistics reveal ‘sugar tax’ has generated £153 million for HMRC

Data has revealed that the Soft Drinks Industry Levy, normally known as the ‘sugar tax’ 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...

Data has revealed that the Soft Drinks Industry Levy, normally known as the ‘sugar tax’ generated £153.8 million for HMRC in the year-to-date, up...

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flexible working

Older employees ‘would welcome flexible working’, survey suggests

A survey carried out on behalf of the Department for Business, Energy and Industrial Strategy (BEIS) has found that the majority of workers aged over 50 would ‘welcome more flexible working’ in the workplace. The survey, which polled more than 12,000 workers over the age of 50, revealed that...

A survey carried out on behalf of the Department for Business, Energy and Industrial Strategy (BEIS) has found that the majority of workers aged...

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