Jul 22, 2020 | Business TaxGovernment Announcements
Making Tax Digital (MTD) is set to expand to all VAT-registered businesses from April 2022, the Treasury has announced. Since April 2019, VAT-registered traders with annual taxable turnover above £85,000 have been submitting VAT returns through MTD. From April 2023,...
Jul 20, 2020 | Government Announcements
The Public Accounts Committee (PAC) has today published a report calling for a review of tax reliefs in the UK on the grounds that few deliver the "intended effect on economic behaviour". It says that the ten most expensive tax reliefs cost £117 billion per year but...
Jul 13, 2020 | Government Announcements
The difference between what tax should be paid and the amount that HMRC actually receives fell to a record low in 2018/19. HMRC collected £628 billion in tax receipts for 2018/19, which equated to more than 95% of what was owed. Continuing a long-term downward trend,...
Jul 9, 2020 | Government Announcements
Chancellor Rishi Sunak has announced a raft of new measures to stimulate the UK economy in the wake of the coronavirus crisis. A headline measure was a new grant scheme to encourage employers to keep on staff they've brought back from furlough. Firms will be rewarded...
Jun 1, 2020 | Government Announcements
Self-employed people whose work has been affected by coronavirus have been boosted by an extension to the coronavirus income support scheme. Workers will be able to make a second and final claim in August for up to £6,750 through the self-employed income support...
