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…

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…

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…

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…

Tax chiefs have launched a new initiative targeting taxpayers who have failed to complete tax returns in the past. The three-month Tax Return Initiative, which was launched on 3 July, is particularly aimed at people liable to pay tax at rates of 40 per cent and above who were asked to submit a self assessment… Read more…

Time is ticking away for taxpayers who have failed to complete tax returns in the past to take advantage of a new HM Revenue & Customs (HMRC) initiative, which could result in tax investigations if they do not come forward voluntarily. The three-month Tax Return Initiative, which was launched in July, is particularly aimed at… Read more…

Businesses that breach health and safety laws could find themselves facing substantial bills from 1 October. The Health and Safety Executive (HSE) has confirmed that its cost recovery scheme, Fee for Intervention, will start from that date, subject to Parliamentary approval. The scheme will enable HSE to recover its costs for putting matters right, investigating… Read more…

Strong inward investment in the UK created or secured more than 112,000 jobs in 2011/12, a rise of 19 per cent on the preceding year, according to new figures. Statistics announced on 26 July revealed that inward investment created 52,741 new jobs, a 26 per cent increase on 2010/11, and secured 59,918 existing jobs, an… Read more…

Exchequer Secretary to the Treasury David Gauke has announced government proposals to crack down on the promoters of aggressive tax avoidance schemes. He unveiled plans on 23 July that included increasing pressure on advisers who market schemes that artificially reduce tax and making it easier for taxpayers to identify such schemes. The proposals also include… Read more…

Acas and the Equality Human Rights Commission have published a new guide to help employers understand the rights of women who are pregnant or on maternity leave when facing redundancy. Employers and employees seeking advice on pregnancy or maternity and redundancy issues make more than 15,000 calls a year to the Acas helpline. Unfair dismissal… Read more…