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Insolvency Service closes dissolution ‘loophole’

Tax expert Richard Simms, MD of F.A. Simms and the AMLCC and explains why company directors need to tread carefully when closing a business Directors...

Chancellor urged to use Spring Statement to protect small firms

The Chancellor should make his Spring Statement on 23 March "a rallying point" for businesses as surging operating costs, supply chain disruption and labour...

Employers should prepare now for changes to tipping practices

Employers in the hospitality sector are being told to prepare for upcoming reforms to tipping practices proposed by the government last September – a development that accountants...

HMRC to accept bulk appeals for late tax returns

Tax agents and accountants will be able to send bulk appeals against late filing penalties for tax returns filed after 28 February due to...

Five million companies in the UK for the first time

Figures just published reveal that 2021 saw the number of companies in the UK reach a record high – passing the five million milestone...

Statutory Sick Pay Rebate Scheme to close in weeks

Accountants and their clients have been advised by HMRC that the Statutory Sick Pay Rebate Scheme (SSPRS) is set to close on 17 March. It...

It’s a family affair – exploring family investment companies

Tax author and consultant, Mark McLaughlin, looks at family investment companies and a possible challenge by HMRC on the effectiveness of such structures for inheritance...

New levies push UK tax burden to highest level since 1950s

New business taxes introduced over the past decade have raised more than £50bn for the government, pushing the UK's tax burden to its highest level in 70 years. According to an analysis by...

Contractors able to claim back tax if engager falls foul of IR35

Contract workers could claim back tax they have paid if HMRC is to find a business has incorrectly applied the IR35 legislation. HMRC enforced...

Company insolvencies more than double in January 2022

England and Wales recorded 1,560 registered insolvencies in January 2022 – more than double the 758 registered in January 2021. The latest figure is...

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