HMRC opens 13,000 inquiries into potential Covid fraud
Tax investigators have opened nearly 13,000 probes into suspected fraud and other related breaches of the coronavirus support schemes.
HM Revenue & Customs (HMRC) also revealed they have begun a handful of criminal investigations.
The number of investigations launched by HMRC was revealed following a freedom of information request by BLM, the law firm.
Federation of Small Businesses calls for more help for SMEs as financial support winds down
The Federation of Small Businesses (FSB) calls on the Government to offer more economic support to small and medium enterprises (SMEs) as coronavirus-related limits continue and fewer financial packages are being handed out.
Third round of Culture Recovery Fund announced in wake of coronavirus pandemic
More than 5,000 organisations have now benefitted from the Culture Recovery Fund, new figures have revealed.
The research, published by the Department for Digital, Culture, Media & Sport (DCMS), comes as the third round of grants is announced.
UK set for a strong recovery from pandemic
The UK is predicted to bounce back strongly from the pandemic, with GDP growth of 8.2 per cent this year, according to an employers’ organisation.
Despite the delay on the lifting of all lockdown restrictions for another month, the UK economy is still set for a breakthrough year, according to the latest Confederation of British Industry (CBI) Economic Forecast.
Take the next step on the road to Making Tax Digital
Businesses, investors and workers across the UK face a challenging time ahead, as the Government continues to implement its Making Tax Digital (MTD) initiative.
Leaving your business in capable hands – Succession planning for the next generation
Many individuals who have spent their livelihoods building, running, and maintaining a successful business, often intend to pass on their accomplishments to a family member, close relative or trusted employee.
Sunshine, football and good news for business
Businesses in the UK, hit by months of lockdown, can see light at the end of the tunnel, with good news on the jobs front and an economic boost from the good weather and European football.
The jobs market is “showing signs of recovery”, official figures suggest, with the unemployment rate falling and the number of job vacancies rising.
Unemployment stood at 4.7 per cent in the three months to April, down from 4.8 per cent previously, the Office for National Statistics (ONS) said.
What are the benefits of running a side business?
With the effects of the coronavirus pandemic leaving many people short on funding, some have turned to side businesses to provide them with extra funds to make up for their financial losses.
What is RTI for Payroll?
Whether you employ one worker or one thousand, Real Time Information (RTI) for payroll helps businesses stay on top of compliance and ensures employees pay the correct amount of tax.
But despite launching in 2013, some businesses still do not fully understand how to use the RTI system – potentially resulting in fines and penalties.
In this blog, we’re going to explore the basics of RTI so your business can stay on the right side of the law.
What is Real Time Information?
Now is the time to prepare details of your taxable benefits
The last tax year has not long ended, but now is the time to think about how you report taxable benefits provided to your employees.
On the horizon there is the all important P11D deadline looming, which may require some employers to report taxable benefits provided in the last year to HM Revenue & Customs (HMRC).
What is a P11D form?
The P11D (for income tax) and P11D(b) for Class 1A National Insurance Contributions) are used to report benefits provided to employees and expense payments by employers that are not included in the payroll process.
