HMRC extends MTD for VAT pilot

More than half a million businesses are now able to test out digital tax reporting for VAT, after HMRC extended its Making Tax Digital (MTD) for VAT pilot scheme to sole traders and companies. From 1 April 2019, VAT-registered businesses with a taxable turnover of...

Directors call for SME productivity allowance

Business leaders are urging the Government to introduce a ‘productivity allowance', to help improve economic performance among small firms. The allowance was suggested in a report by the Institute of Directors (IoD), and would take the form of an enhanced capital...

Chancellor hints at lowering the annual allowance

The annual allowance on pension tax relief is expected to be cut in Budget 2018, according to predictions from Royal London. In a recent speech, Chancellor Philip Hammond said the cost of pension tax relief is "eye-wateringly expensive", adding to speculation that it...

Treasury eyes ‘off-payroll’ crackdown

The Treasury is adding the finishing touches to revamped tax rules which in their current form are seen as enabling the self-employed to pay less in national insurance contributions, according to the BBC. Self-employed people who set up private companies to take on...

CBI makes post-Brexit recommendations

The Chancellor should announce a substantial financial package in the upcoming Budget to prepare businesses for life after Brexit, according to the Confederation for British Industry (CBI). In its pre-Budget letter to Philip Hammond, the CBI called on the Chancellor...