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...

85% SMEs achieve funding boost

The overwhelming majority of small businesses in the UK that applied for finance in the first six months of 2018 were successful. Market research firm BDRC conducted research on behalf of UK Finance, and found 85% of small businesses were able to secure a funding...

Businesses claim £3.7bn in R

Companies working on innovative projects received almost £3.7 billion in Government support for the 2015/16 tax year, HMRC statistics show. In total, 43,040 companies in the UK claimed research and development (R&D) tax credits in 2015/16 - up 22% on the previous...

Time running out to register for self-assessment

With just over a week to go until the registration deadline for self-assessment returns for the 2017/18 tax year, HMRC is reminding taxpayers that time is running out. Anyone submitting a self-assessment tax return for the first time will need to register for...