Independent watchdog questions quarterly business tax updates
The Administrative Burdens Advisory Board (ABAB) has said it has serious concerns about the government’s proposals to introduce quarterly reporting, similar to tax returns, for businesses.
UK still struggling with productivity
The latest figures from the Office for National Statistics (ONS) has shown that labour productivity – measured as output per hour – fell by 1.2 per cent in the final quarter of 2015.
UK’s small businesses ignoring minor expense claims
A new report has found that UK freelancers, sole traders and micro-businesses could potentially be failing to claim millions of pounds worth of tax relief from unclaimed expenses they deem too small or time-consuming.
New rules on Entrepreneurs’ Relief
The Chancellor announced new rules on Entrepreneurs’ Relief in this year’s Budget, lessening some of the challenging restrictions he introduced last year. However, this year’s changes look set to lead to problems of their own.
Changes to Employment Allowance
Significant changes to Employment Allowance that were first announced by the Chancellor in his 2015 Budget came into effect at the start of the new financial year on 6 April.
Personal Service Companies in the Public Sector
The rules on using Personal Service Companies (PSCs) in the public sector are set to undergo a radical overhaul in 2017.
Credit ratings under threat from unaudited accounts
Under changes introduced by the Government in January, companies can now legally opt out of auditing their accounts if they fall below the £10.2 million statutory threshold, but they may risk their credit ratings by doing so.