July 2019

HMRC misses key tax credits fraud-and-error target

HMRC has missed its key fraud-and-error reduction target and notched up tax credit overpayments of £1.46bn, its latest annual report reveals. However, the tax-collection agency is closer to its 5% target than chief executive Sir Jon Thompson warned MPs it would be two years ago, and the measure is the only one of 14 performance commitments outlined in the report

Read more

Read more

Investigations launched into firms ‘that try to dodge pension duties’

Employers across the UK that try to dodge their workplace pension duties by changing their company name are being hunted. The Pensions Regulator (TPR) has become aware of a number of employers that appear to have tried to conceal their failure to comply with the law by hiding behind a new name. TPR investigators are now working with their counterparts

Read more

Read more

Apprenticeship levy has failed and needs urgent reform, says CIPD

The Government made an empty promise when it said the apprenticeship levy would boost the amount of money employers spend on workplace training, a new report from the CIPD, the professional body for HR and people development, has found. The report, called ‘Addressing employer under-investment in training – the case for a broader training levy’, reveals that fewer than a

Read more

Read more

Government to set up standards committee to scrutinise HMRC’s powers

HMRC is to be put under greater scrutiny, with a new professional standards committee to oversee its use of wide-ranging powers to tackle tax avoidance and evasion. The move for greater scrutiny of HMRC comes amid concerns that the balance between clamping down and treating taxpayers fairly has tipped too far in the Revenue’s favour. The committee, which will take

Read more

Read more

Number of insolvent firms falls in Q2 2019

Despite a number of high-profile insolvencies hitting the headlines, analysis from professional services firm KPMG shows the number of companies entering into administration in England and Wales fell during the second quarter of this year. A study by KPMG of notices in the London Gazette shows that 310 companies went into administration between April and June 2019, compared with 361

Read more

Read more

Latest IAB seminars announced

The IAB has arranged two further seminars covering a range of topics including: payroll, best practice guidance to comply with the Money Laundering Regulations and much more! The events will take place in London on Wednesday 30 October and Bristol on Thursday 7 November and are an excellent way to gain updates for your own business and your clients or

Read more

Read more

Re-enrolment made simpler

Employers will be able to re-enrol their staff into a workplace pension more simply following the launch of a new online resource. While the vast majority of employers are carrying out re-enrolment successfully, some are failing to complete the task correctly – which could lead to a fine. The new re-enrolment tool is being launched by The Pensions Regulator as thousands of

Read more

Read more

HMRC Talking Points

HMRC’s regular Talking Points provide ongoing information, guidance and tips to help you to understand tax issues. Here’s a selection of some of the Talking Points webinars coming up. There are a limited number of spaces, so you are advised to book your place early. Stamp Duty Land Tax – Higher Rates for Additional Dwellings – Back to Basics: Feedback for

Read more

Read more

Economic crime target of new government initiative

The Government has launched a new Economic Crime Plan that sets out plans to better tackle the scourge of ‘dirty money’ in the UK. The initiative brings together the public and private sectors in closer cooperation than ever before, with improved levels of information sharing, resource pooling and technological innovation, the government says. It is a partnership between the Treasury,

Read more

Read more