Firms set for first quarterly VAT returns through MTD

VAT-registered businesses with an annual turnover above £85,000 are being urged to sign up for Making Tax Digital (MTD) before the scheme's first quarterly filing deadline. MTD for VAT became law on 1 April 2019, requiring most VAT-registered firms to keep digital...

Government plans to reform statutory sick pay

Small employers may be offered a sick pay rebate for effectively managing workers on sickness absence, under proposed reforms to statutory sick pay rules. The Government is looking at extending eligibility for statutory sick pay to workers earning below the current...

1 in 5 sole traders close after one year

A fifth of self-employed sole traders don't survive for more than a year, analysis by the Institute for Fiscal Studies (IFS) shows. The number of self-employed business owners in the UK has grown significantly in recent years, from 3.9 million in 2000/01 to 4.9...

Tax changes impact smaller landlords

Small-scale buy-to-let landlords have been worst hit by tax and regulatory changes to the private rented sector, according to the trade association for lenders. A report from the Intermediary Mortgage Lenders Association (IMLA) shows landlords with one property made...

MTD and Brexit cause HMRC helpline delays

Business owners calling HMRC's VAT helpline for assistance have experienced increasing delays in the first part of this year, with Brexit and Making Tax Digital (MTD) putting pressure on resources. Correspondence from HMRC to the Treasury select committee shows...