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MTD VAT Service scheduled maintenance

HMRC will be undertaking scheduled maintenance to the Making Tax Digital (MTD) service, in order to deliver additional functionality for those using the service. As a result, some services will be unavailable from 4pm on Saturday 11 May until 4pm on Monday 13 May. During this maintenance period, users will be unable to: Sign up for Making Tax Digital, Create

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Businesses to be given increased protections from criminals

Companies will be better protected from fraud under new Companies House reforms that will do more to safeguard the personal data of business owners and ensure the accuracy of the register. Business Minister Kelly Tolhurst has unveiled a substantial package of reforms, with the aim of minimising the burden on law abiding companies. The reforms will contribute to UK efforts

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Big firms accused of ‘ignoring rules’ over paying suppliers

More than 1,000 big companies are flouting the law by ignoring rules that oblige them to report how long they take to pay suppliers, an industry group has warned. An analysis of government data by the Chartered Institute of Procurement & Supply (CIPS) highlighted a significant number of large companies that had not complied with their ‘duty to report’ under

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House of Lords targets state pension, IHT and NI for reform

The triple lock for the state pension should be removed, better-off workers over state pension age should pay National Insurance contributions (NICs) while they continue to work, and the ‘capricious’ inheritance tax (IHT) regime must be overhauled, says House of Lords committee The House of Lords committee on intergenerational fairness and provision has published a report on its inquiry into

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Penalty warning for early enrollers in Making Tax Digital

Businesses signed up for Making Tax Digital (MTD) but yet to file their latest VAT return must act urgently to avoid possible penalties, the Association of Taxation Technicians (ATT) is warning. While 1 April 2019 marked the introduction of MTD, it was not the point at which those businesses affected need to sign up to MTD. The sign up process

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Rise in corporate insolvency rates in Q1

Corporate insolvencies rose in the first quarter of 2019, with administrations reaching their highest level for five years, official figures from the Insolvency Service show. There were 4,187 total underlying company insolvencies in Q1 2019, 6.3% more than in Q4 2018. Compared with the same quarter last year, this was an increase of 5.1% and marks the second highest underlying

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HMRC’s harnesses new tech to track down tax evaders

Connect, HMRC’s sophisticated information-gathering system, is being used more and more to identify income and gains that have not been declared, according to accountancy firm BlickRothenberg. Not only that, but the information the government agency can call upon to check whether an individual or company is evading tax is growing all the time, and becoming more sophisticated. Jessica McLellan, a

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Business expenses: so what’s allowed?

Which expenses can be claimed as an allowable business expense and which are not allowed by HMRC? Tax expert David Redfern explains all Whatever the expense, HMRC rules state that they must be purely business related – no expenses for personal or non-business use are allowed by the Revenue. HMRC use the term ‘wholly and exclusively’ to define what is

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Springtime tax scams target young and vulnerable, warns HMRC

Young adults who may have less experience of the tax system should be especially vigilant against springtime refund scams, HMRC is warning. Scammers are increasingly targeting vulnerable or elderly people and those with less familiarity with the tax system, such as young adults. During April and May, fraudsters regularly blitz taxpayers with refund scams by email or text pretending to

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