Compliance investigations into small and medium sized enterprises (SMEs) by HM Revenue & Customs jumped 39 per cent in the last year, according to new research. According to the data, published on 20 October, investigations into SMEs netted HMRC £434 million in extra tax and fines – on top of tax already paid by the… Read more…

A new service will provide practical support for UK businesses to export to high growth markets in South East Asia. The Headstart initiative, which was launched on 18 October, will help small and medium-sized businesses seeking to export to these markets for the first time, offering: access to local business networks introductions to already established… Read more…

The government’s business information website has been replaced by a new site, designed to make it quicker and easier for internet users to interact with the government online. The Gov.uk site at www.gov.uk, which replaced Business Link and Directgov on 17 October, provides information on wide-ranging aspects of running a business in the UK, including:… Read more…

The government has reinforced its commitment to closing the “tax gap” as new figures revealed it had shrunk on last year’s figures. Data released by HM Revenue and Customs (HMRC) on 18 October estimated the tax gap for 2010/11 at £32 billion, or 6.7 per cent of tax due, compared to 7.1 per cent in… Read more…

A new small claims track has been introduced to the Patents County Court designed to speed up the court process and make it cheaper and easier, particularly for small and medium sized businesses, to protect intellectual property (IP) rights. The small claims track will provide copyright, trade mark and unregistered design holders the option of… Read more…

Hundreds of thousands of families are due to receive letters from HM Revenue & Customs (HMRC) in the coming weeks, spelling out how their child benefit could be cut. From 7 January 2013, families claiming child benefit will have to pay a new tax charge where one partner earns more than £50,000 a year. According… Read more…

HM Revenue & Customs (HMRC) has been writing to more than 1.4 million employers to its launch Real Time Information (RTI) awareness campaign. The letters, which went out during October, provided  information on what employers need to do to prepare for the new way of reporting PAYE data starting in April 2013. From April, employers… Read more…

Changes to VAT arrangements, originally announced in the March 2012 Budget, take effect from 1 October. The changes, which are designed to tackle anomalies within the VAT regime, apply to hot food and premises; sports nutrition drinks, listed buildings; hairdressers’ chairs and self-storage. Anti-forestalling measures also take effect from 1 October in relation to the… Read more…

Legal professionals, solicitors and hairdressers are among the latest groups to be targeted in a new tax crackdown by HM Revenue & Customs (HMRC). The initiatives, launched on 18 September, are expected to recover more than £19.5 million by targeting those who do not pay the right amount of tax. Taskforces will focus on: the… Read more…

Compliance investigations into small and medium sized enterprises (SMEs) by HM Revenue & Customs jumped 39 per cent in the last year, according to new research. According to the data, published on 20 October, investigations into SMEs netted HMRC £434 million in extra tax and fines – on top of tax already paid by the… Read more…