Creative businesses receive £1.1bn tax relief

Companies in the creative industries were awarded a total of £1.1 billion in tax relief in 2018/19, Government statistics show. A range of corporation tax reliefs are available for businesses involved in the development of certain creative productions, including film,...

VAT reverse charge ‘should be delayed’

A major change to VAT in the construction industry could cause significant disruption to businesses unless it's delayed, the Chartered Institute of Taxation (CIOT) has warned. The VAT domestic reverse charge is set to come into effect on 1 October 2019, and will apply...

No penalty for not signing up to MTD

VAT-registered businesses that missed a deadline earlier this week to sign up for Making Tax Digital (MTD) will not be penalised on two conditions. HMRC said that those affected would not be sanctioned as long as they file their VAT return on time using its old...

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...