Exports rise to record high of £621bn

Exports of UK goods and services increased to a total of £620.7 billion in the year to June 2018, according to the Office for National Statistics (ONS). Between June 2017 and June 2018, goods exports showed strong growth compared to the same time in the previous year...

HMRC confirms ‘soft landing’ for MTD

HMRC has confirmed that digital reporting requirements will be relaxed during the first year of Making Tax Digital (MTD) for VAT-registered businesses. From April 2019, businesses with annual taxable turnover of more than £85,000 will be required to maintain digital...

OBR sparks tax hike speculation

Tax hikes may be in the pipeline in Autumn Budget 2018 following the prime minister's pledge to significantly increase spending on the NHS, according to the UK's fiscal watchdog. The Office for Budget Responsibility (OBR) said the long-term outlook for the UK's public...

Tax changes restrict buy-to-let purchases

The number of new buy-to-let mortgages has fallen as a result of tax changes in recent years, according to research. A report by UK Finance showed that in May 2018, 5,500 new buy-to-let home purchase mortgages were completed - down 9.8% since the same time in 2017. In...

SMEs feel ‘targeted’ by tax investigations

Small businesses feel they are unfairly targeted by tax investigations, according to a report commissioned by HMRC. Research conducted by insurance firm PfP revealed that 52% of small businesses think tax investigations are too intensive. Additionally, 56% don't...
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