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Small firms face fines for inaccurate furlough claims

Small business owners unaware they have over-claimed could face having to repay 5-10% of furlough claims, according to accountancy firm MHA. HMRC and the National...

Suspected abuse of Covid schemes prompts surge in whistleblowing

Some 107,000 suspected cases of tax evasion were reported to HMRC in the 2020-21 tax year, despite the Revenue’s whistleblowing hotline being closed for...

Hike in NICs and dividends to fund social care

Some National Insurance contributions (NICs) paid by both employed and self-employed workers will rise by 1.25 percentage points at the start of the next...

Shortages of staff and supplies hampering economic growth

The UK’s economic recovery from the coronavirus pandemic slowed in August, mainly because of staff and supply shortages, according to a new survey. The IHS...

‘Pingdemic’ to cost some small businesses £10,000

The so-called ‘pingdemic’ is set to cost more than one in 10 small business owners (12%) £10,000 in lost revenue due to staff shortages...

CBI: ‘shortage of workers could last for two years’

The shortage of labour hampering the UK’s economic recovery from the pandemic could last for up to two years, the Confederation of British Industry...

Can you give good tax advice in 280 characters?

The influential Low Income Tax Reform Group (LITRG) has expressed ‘serious concerns’ about the advice HMRC is giving out over Twitter. @HMRCcustomers has more than...

Insolvencies rise in ‘challenging month’ of July

The number of registered insolvencies in July 2021 was 1,094 in England and Wales, according to the Insolvency Service’s latest figures. This figure is 13%...

Delay reporting reforms, government is urged

The government is being urged to delay its proposed ‘fundamental changes’ to the tax regime that will see self-employed people having to file quarterly...

Discount please!

Mark McLaughlin considers the prospects of an inheritance tax discount being obtained for jointly held property. Two (or possibly more) individuals might together buy (say)...

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