New measures designed to give firms more flexibility in managing their workforce and to cut employment red tape, have been announced. Launching consultations on 14 September, Business Secretary Vince Cable said: “We have been looking across the range of employment laws with a view to making it easier for firms to hire staff while protecting… Read more…

Small and medium-sized firms are being invited by HM Revenue and Customs (HMRC) to sign up to receive regular emails giving help and support. The new service, launched by HMRC on 27 September, is aimed at small and medium-sized enterprises (SMEs) and particularly where those involved in the SME are new to business, setting up… Read more…

Tax investigations are set to become more likely as the government signalled its intention to continue its drive to close the “tax gap”. Figures 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… Read more…

The first cash from the government £82.5 million Start-Up Loans scheme is now being distributed to young entrepreneurs, with the aim of helping to launch up to 30,000 new companies. Start-Up Loans will provide budding entrepreneurs between the ages of 18-24 with a range of support, including access to a business mentor and capital, in… Read more…

HM Revenue & Customs has amended the advisory fuel rates for company cars with effect from 1 September 2012. The rates – HMRC’s guidelines for fuel mileage rates for company cars – apply to all journeys made on or after 1 September, until further notice For one month from the date of change, employers may… Read more…

More than half a million people will be saving in a workplace pension for the first time by Christmas, according to new government figures. From October 2012, starting with the largest employers, the automatic enrolment initiative means that bosses will be required by law to pay into a workplace pension for all eligible staff who… Read more…

Around half a million people who have not yet submitted 2010/11 tax returns to HM Revenue & Customs (HMRC) are now receiving additional penalty letters. The number of outstanding returns almost halved in 2012, falling to 5.9 per cent of those due compared to 10.7 per cent in 2011. As a result, 518,000 fewer penalties… Read more…

Taxing the wealthy is “at the heart of Liberal Democrat thinking” according to the delegates at their annual conference in Brighton. The party made tax a feature of many of their speeches and Chief Secretary to the Treasury Danny Alexander announced a series of measures and proposals aimed at recouping as much personal tax as… Read more…

A pioneering study of e-crime has revealed that e-crime cost UK retailers at least £205.4 million in 2011-2012 The first e-crime study from the British Retail Consortium, published on 22 August, found that the bill included £77.3 million in losses from frauds themselves as well as prevention costs and legitimate business lost as a result… Read more…

HM Revenue & Customs (HMRC) has issued updated guidance for subcontractors operating as limited companies on reclaiming any deductions taken from their payments under the Construction Industry Scheme. The new guidance was issued on 15 August and updates a leaflet first published in May this year. HMRC said a copy of the leaflet would also… Read more…