Business News

Small businesses used to plug tax gap

7 Feb 2017

HM Revenue & Customs (HMRC) has been accused of using small and medium-sized businesses to plug the UK’s tax gap, following a report which showed an additional £468 million was generated in tax revenue by SMEs in 2016. The figure,

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Small firms to be helped with bank switching

7 Feb 2017

The UK’s large army of small businesses will soon be able to switch their accounts between banks more easily, following changes to bank competition rules. The Bacs Payment Scheme, the organisation responsible for the majority of the UK’s automated payments,

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HMRC publishes long-awaited responses to Making Tax Digital consultations

7 Feb 2017

The Government’s long-awaited responses to six consultations about Making Tax Digital (MTD) which were originally opened in August 2016 were published at the end of January. Despite ongoing criticisms regarding the proposed short MTD timescale, HM Revenue & Customs (HMRC)

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Treasury coffers boosted by £400m following HMRC crackdown

4 Jan 2017

The Treasury’s coffers were boosted by £400m in 2016, following a crackdown by HM Revenue & Customs (HMRC) on tax avoidance. The amount collected by the HMRC Counter Avoidance Directorate shot up by 80 per cent last year from £494m

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Stamp Duty Land Tax receipts hit record levels

4 Jan 2017

Figures released by HM Revenue & Customs (HMRC) last month revealed a record Stamp Duty Land Tax (SDLT) take of £7.7bn in the first eight months of this financial year. The figure represents a 12 per cent increase on the

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