HMRC steps up Brexit preparations

HMRC has started automatically issuing businesses with identification numbers for its customs system, to allow them to trade with the EU after Brexit. Economic Operator Registration and Identification (EORI) numbers enable businesses to be identified by customs...

120k firms miss MTD for VAT deadline

More than 120,000 VAT-registered businesses in the UK missed the August deadline to file returns through Making Tax Digital (MTD). HMRC confirmed that around 116,000 businesses with quarterly obligations and 5,000 firms that file monthly returns did not sign up in...

Small employers risk losing the employment allowance in 2020

Plans to remove the employment allowance for large employers from April 2020 could have a domino effect on smaller firms. The employment allowance currently provides employers with a reduction of up to £3,000 to their national insurance contributions (NICs) bill. From...

Retailers call for business rate reform

More than 50 major retailers have signed a letter to Chancellor Sajid Javid, calling for reforms to the business rates. Business rates are charged on most non-domestic properties, based on their rateable value and a multiplier set by the Government. The British Retail...

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,...