Late payments are a ‘growing challenge’ for 1 in 4 SMEs

Late payments are a growing issue for nearly a quarter of SMEs, according to a survey by the Institute of Chartered Accountants in England and Wales (ICAEW). The survey of 1,000 ICAEW members found that 24% of small and medium-sized businesses experienced late...

Carers’ allowance in line for reform

Changes could be made to the carers' allowance, following a select committee's stinging criticism of the Department for Work and Pensions (DWP). The carers' allowance is paid to people who provide more than 35 hours a week of care, usually for a family member who...

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...

HMRC repays £46m in excess tax on pension withdrawals

The number of over-55s who have had to reclaim tax after taking money from their pension pots has hit a record high. Quarterly figures published in HMRC's Pension Schemes newsletter show more than 17,000 savers reclaimed tax worth £46 million between April and June...

Javid ‘to broaden apprenticeship levy’

Further tweaks to the apprenticeship levy look to certain to be made in the autumn, when new chancellor Savid Javid delivers his first Budget. In his final Budget speech in October 2018, former chancellor Philip Hammond halved the amount small firms taking on...