Category : News

Number of late tax return penalties falls by 40% The number of penalties issued for late tax returns has fallen by around 40%, HM Revenue & Customs (HMRC) has revealed. The tax authority is issuing some 850,000 late filing penalties …

Further calls for Budget tax cuts ‘to boost business confidence’ The Government is facing further pressure to announce tax cuts in the forthcoming Budget, in order to stimulate economic growth and improve business confidence. Shadow Chancellor Ed Balls has called …

Businesses offered free training to get mentoring The Government has launched a new on-line training tool to encourage experienced business owners to mentor fledgling SMEs. The free on-line tool, which can be found at www.getmentoring.org, is designed to make it easier …

Revenue launches campaign against inaccurate employer returns HM Revenue & Customs has launched a new campaign aimed at reducing the number of employers who include incorrect or dummy information in their employer returns. Every year, thousands of returns containing dummy, …

Coalition to consider cuts to higher-rate pensions tax relief Higher-rate tax relief on pension savings could be halved to 20%, under plans reportedly being considered by the Government. The Treasury chief secretary, Danny Alexander, has suggested that wealthy individuals are …

Tradespeople to be the focus of new tax campaign Tradespeople will be the focus of a new campaign aimed at flushing out tax evaders, HM Revenue & Customs (HMRC) has revealed. Building on previous campaigns which targeted plumbers and electricians, …

Revenue receives record number of tax returns A record 9.45 million self assessment tax returns were filed on time this year, with 7.65 million of these being filed on-line, HM Revenue & Customs (HMRC) has revealed. Overall, more than 90% …

HMRC announces ‘fresh approach’ to Business Records Checks HM Revenue & Customs (HMRC) will be adopting a ‘fresh approach’ to its Business Records Checks programme, following a recent review of the system. Under a pilot scheme launched in April 2011, …

New employment mediation pilot scheme for SMEs The Government has launched its regional mediation pilot scheme for small and medium-sized businesses, as part of a major overhaul of the employment tribunals system. Cambridge and Manchester have been named as the …

Web economy ‘will double by 2016’  The value of the web economy in G20 member countries is set to almost double by 2016, a new report has suggested. According to the study, nearly 50% of the world’s population will be …