Self-employed taxpayers may be failing to claim on average £1,687 in tax-deductible expenses, a new report has revealed.
Accounting experts have accused HMRC of shifting the “tax burden” onto UK consumers after finding that 21 per cent of their total income is accounted for by VAT.
The Joint and Several Liability (JSL) notices, were introduced in 2016 to protect British businesses from being undercut by overseas sellers committing VAT evasion.
The Institute of Chartered Accountants in England and Wales (ICAEW) has warned self-employed workers not to leave their tax return “to the last minute”.
A newly proposed traffic light system could be used to put a spotlight on businesses with track records of late payments.
For the sixth year in a row, sales have fallen on Britain’s high streets in December.
Since the Streamlined Company Registration Service was launched last year, more than 200,000 start-ups have used the service.
UK growth is stagnating as a result of heightened Brexit uncertainty and other economic pressures, the British Chambers of Commerce (BCC) has warned.
HM Revenue and Customs (HMRC) have issued a reminder that taxpayers have less than a month left to complete and submit their Self-Assessment tax returns.
The cash flow difficulties that late payments cause small businesses are well known. However, the cost of recovering late payments is less well publicised, despite being a major and growing expense – coming in at around £9,000 last year for