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Time to deliver on broadband promises, say small businesses
Small companies in the UK are being held back by poor broadband and mobile connections, according to new research by the Federation of Small Businesses (FSB). The findings, revealed in FSB’s new digital infrastructure report ‘Lost Connection’, show that a third of firms (33%) are struggling with broadband speeds that are insufficient for their current business needs. Two in five
Read moreLedgers land £3.5 million launderer with jail sentence
A Manchester crook who went on the run when his handwritten ledger books implicated him in a multi-million-pound money laundering fraud has been sentenced in his absence. Jamshed Bhatti, 60, formerly of Stockport Road, Longsight, was caught with £50,970 in cash when HMRC investigators searched his home in August 2015. Two handwritten records of his financial accounts were also found
Read moreHMRC accelerates 95,000 firms onto simplified import procedures
HMRC has automatically registered 95,000 businesses for its simplified import procedures allowing most traders up to six months to pay import duties and submit customs declarations, if the UK leaves the EU without a deal on 31 October. The scheme, known as Transitional Simplified Procedures (TSP), will make importing after Brexit on 31 October much simpler, particularly for businesses who
Read moreGovernment unveils plans to overhaul airline insolvency process
In the light of the failure of the Thomas Cook Group, new legislation is to be introduced by the government to reform the airline insolvency process. It will be designed to protect and repatriate passengers more effectively, as well as enhance regulatory oversight of airlines in financial difficulty. The proposed bill was introduced at the formal state opening of Parliament
Read more681,000 UK taxpayers forced to reschedule payments with HMRC
Some 681,000 UK individuals and businesses are so far behind with their tax bills that they have been forced to reschedule their payments with HMRC, according to research by UHY Hacker Young. Taxpayers are able to reschedule their tax payments with HMRC by agreeing ‘Time to Pay’ arrangements. These allow taxpayers to pay their taxes over a longer period of
Read moreHMRC advice on payments due under PAYE Settlement Agreements
The Revenue has issued a bulletin explaining that some PAYE Settlement Agreement (PSA) customers may not have received a payslip notifying them of the amounts they owe under their PSA arrangement for the 2018/19 tax year. It says: “Customers are reminded that they should still pay any tax and National Insurance they have worked out is due under their PSA
Read moreSMEs could be missing out on £35,000 a month
Small firms in the UK could be missing out on £35,000 of extra revenue each month due to a lack of efficiency online, according to a new survey. The study by Wix, a cloud-based web development platform, looked at the productivity, efficiency and general sentiment of UK SMEs in 2019. It found that 40% of British businesses still have no
Read moreUK has ‘tax knowledge gap’
Practically everyone in the UK struggles to understand their personal tax affairs, with young people the least knowledgeable, according to new research by Deloitte. Over 2,000 people across the UK were asked a series of tax questions and awarded a knowledge score based on their answers. The average respondent achieved just 10.6 out of 30, with almost half of people
Read moreEngineering boss gets 11-year ban for tax offences
A London company director has been banned for 11 years after causing Three Points Engineering Ltd to avoid paying taxes. Abraham Briscoe was the sole director of Bromley-based Three Points Engineering Ltd (3PE). The company was incorporated in June 2011 and provided heating, air conditioning and gas engineering services in London and the South-East. Enquiries by HMRC and the Insolvency
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