Latest News

Businesses get to grips with new employment costs
Posted: April 2, 2019

Employers across the UK are starting April with a sudden increase in employment costs following a rise in workplace pension contributions and minimum wage costs. The sharp increase in expenditure on staff couldn’t come at a worse time for business who are experiencing growing uncertainty over the UK and wider global economy. Minimum contributions for _ Read more

Invoice fraud cost UK firms £93 million last year
Posted: April 2, 2019

A recent survey conducted by UK Finance revealed that more than four in 10 UK businesses are unaware of the potential risks associated with invoice fraud. Last year these scams cost UK firms almost £93 million, with 3,280 invoice and bank scam cases reported – costing on average £28,000 per case. Fortunately, in 2018, £29.6 _ Read more

Tax-free HMRC scheme assists families with childcare costs
Posted: April 2, 2019

A Government scheme set up by HM Revenue & Customs (HMRC) is advising parents to apply for the Tax-Free Childcare scheme, which provides contributions on savings used to cover childcare costs. Research has revealed that more than a million families are failing to make use of the Tax-Free Childcare scheme. The Tax-Free Childcare scheme is _ Read more

UK SMEs hit by £17.4 billion cybercrime bill in 2018
Posted: April 2, 2019

New research from internet service provider, Beaming, has revealed that in 2018 UK small and medium-sized enterprises (SMEs) were affected by cybercrime to the tune of £17.4 billion. Business cybercrime is the flavour of the month for fraudsters, with hacking, phishing and data breaches affecting millions of UK companies and causing billions of pounds of _ Read more

Are you registered for Making Tax Digital yet?
Posted: April 2, 2019

Launched on 1 April 2019, most VAT registered businesses are now required to comply with the new Making Tax Digital for VAT regime. However, many businesses may not be aware that they are required to register to use the new system and that this process can take up to seven working days to complete. If _ Read more

Spring Statement 2019
Posted: March 13, 2019

On any other day, the Chancellor’s Spring Statement would have dominated the headlines. However, with the UK’s scheduled withdrawal from the EU just days away, and the Prime Minister’s latest Brexit deal voted down by the Commons just hours earlier, this seemed more like a sideshow than the main event. The little speculation there was _ Read more

Making Tax Digital productivity boost expected to be worth billions to UK SMEs
Posted: March 5, 2019

New research suggests that the UK’s SMEs could benefit to the tune of as much as £57 billion over the next five years because of digital productivity improvements associated with HM Revenue & Customs’ (HMRC) Making Tax Digital (MTD) initiative. The report by research firm, Volterra Partners, anticipates a ‘digital snowball’ effect from the launch _ Read more

Delay in issuing Self-Assessment penalty notifications
Posted: March 5, 2019

While 93.68 per cent of the 11.5 million taxpayers who were required to file their Self-Assessment Tax Returns by midnight on 31 January did so on time, 731,186 missed the deadline. Those who missed the deadline will have to wait longer than in previous years to receive penalty notifications from HM Revenue & Customs (HMRC). _ Read more

New advisory fuel rates for company car users
Posted: March 5, 2019

New advisory fuel rates from 1 March 2019 for drivers of company cars have fallen for all but one class of vehicle. The rates apply where a business is reimbursing employees for travel in a company car, or where employees must repay the cost of fuel used when travelling in a company car in a _ Read more

Make the grandest romantic gesture and reduce your tax bill
Posted: March 5, 2019

Getting married or conducting a civil partnership ceremony is often the happiest day of most people’s lives but unfortunately almost one million married or civil partnered couples in the UK have not used up to £900 in tax relief available to them. The Marriage Allowance scheme currently allows couples to transfer up to £1,190 of _ Read more