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The Office of Tax Simplification (OTS) provides independent advice to the government on simplifying the UK tax system, with the object of reducing compliance burdens on both businesses and individual taxpayers. The OTS operates on a permanent,
Following the recent increase in the Bank of England base rate to 0.75%, HMRC has announced changes to the rates of interest they charge.
The new rates of interest charged on underpaid quarterly instalment payments of 1.75% (was 1.50%), took
There are special rules involving bicycles usually referred to as ‘Cycle to Work’ arrangements. The Cycle to Work scheme was introduced in 1999 to help promote the use of healthy ways to commute to work.
The scheme allows employers to provide
The Intellectual Property Office (IPO) is warning taxpayers of a new intellectual property (IP) scam, where taxpayers receive unsolicited invitations from companies offering services to help them protect their IP in return for a fee. These usually
A new Government Counter Fraud Profession (GCFP) is to be launched on 9th October to help fight fraud in the public sector. The size of the challenge is immense with fraud in the public sector estimated to be between £31 billion and £49 billion.
Here is a reminder for travellers of their duty and tax free allowances whilst travelling this summer.
Travelling to an EU country
Where tobacco or alcohol is brought in from another EU country, no duties or tax will be payable as long as you can
The transfer of a business as a going concern (TOGC) rules consider the VAT liability on the sale of a business. Normally, the sale of the assets of a VAT registered or VAT registerable business will be subject to VAT at the appropriate rate.
HMRC has published a press release to remind taxpayers that the 30 September 2018 deadline to come forward and declare any foreign income or profits on offshore assets is fast approaching. This is the date set out in the Requirement to Correct (RTC)
The Office of Tax Simplification (OTS) has updated its papers on the possibility of launching a Sole Enterprise Protected Assets (SEPA) business model for sole traders.
SEPA status would allow sole traders to retain the simplicity of sole trader