HMRC blames no-deal Brexit preparation for penalty letter delays February 23, 2019 The UK’s tax authority, HM Revenue & Customs, has said a delay in sending out penalty notices for the late filing of self-assessment returns is due to preparations for a no-deal Brexit. HMRC revealed on Friday in a technical publication that it would send out £100 penalty notices as late as 24 hours before higher [...]
January deals flat as uncertainty weighs on housing market February 21, 2019 Buyers and sellers in Britain’s housing market remained subdued in January, as stamp duty and Brexit uncertainty added to the traditional New Year slowdown. Data released this morning from HMRC has found that residential deals nudged up by 0.8 per cent between December and January, marking a 1.3 per cent rise on the same period [...]
Innovative Finance ISA: The New Kid On The Block February 14, 2019 The Traditional ISA Landscape ISA’s have seen something of a resurgence in recent times. According to HMRC, we invested £69 billion in them during the 2017/18 tax-year.[1] Last years’ growth in ISA subscriptions was driven by an increase in investment in Stocks and Shares ISA’s – which may have ultimately been painful for many investors [...]
City Moves for 11 February – who’s switching jobs at Quickbooks, Trowers & Hamlins and Just Eat? February 11, 2019 Today's City Moves cover Quickbooks, Trowers & Hamlins and Just Eat. Take a look at these movers and shakers. Quickbooks Intuit, the makers of Quickbooks, the world’s number one online accounting software, announced the appointment of Chris Evans as vice-president and UK country manager. Chris, part of the Intuit UK team for eight years, steps [...]
Chris Grayling says it will be the EU’s fault if Britain leaves without a deal on 29 March February 5, 2019 Transport secretary Chris Grayling has said the blame will lie with Brussels if the UK crashes out of the EU without a deal on 29 March. The Cabinet minister said the UK government had done all it could to secure an agreement and that it would be down to the EU's failure to compromise me if a [...]
HMRC says EU goods will be waved through UK ports without checks in event of no-deal Brexit February 4, 2019 HM Revenue and Customs (HMRC) has said EU imports will not be subject to extra checks at UK ports in the event of a "no deal" Brexit. In recent months freight companies have warned that leaving the EU without a deal would lead to miles-long queues at major ports such as Dover due to the possibility [...]
The taxman collected an extra £3.75bn from VAT investigations into small businesses last year February 4, 2019 The taxman collected an extra £3.75bn from small and mid-sized businesses (SMEs) last year through investigations into the underpayment of VAT, up 12 per cent on the previous year. The extra revenue HM Revenue and Customs (HMRC) collected through VAT investigations made up half of all revenue collected through investigations into SMEs in 2017/18, according to [...]
Sweating under today’s tax return deadline? It might be time to let your accountant go… January 31, 2019 Left your tax return until the last minute? Desperate to avoid a fine? Take a few tips from me, an award-winning financial technology journalist. Well, okay, the “award” came from Guildford Magistrates Court – in the form of compensation against my useless accountant at the end of a small claims hearing. That verdict was an [...]
City Hall and BBC under fire over stamp duty agreement for new Olympic Park studios January 29, 2019 City Hall has come under fire for agreeing to underwrite half of the stamp duty that could be levied on the BBC when it opens new studios in the £1.1bn Olympic Park development. Last summer the broadcaster announced it would build a brand new set of studios at the east London site by 2022/23, in concert [...]
Dyson’s move is not hypocrisy – it’s shrewd January 28, 2019 Among some of the more committed anti-Brexit activists it has become fashionable to levy the charge of hypocrisy against pro-Leave business figures whose commercial activity appears insufficiently patriotic. For those Remainers for whom Brexit is synonymous with an inward-looking philosophy and a narrowing of the UK’s horizons, it is incompatible for someone to support Brexit [...]