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The government has already published certain draft clauses for the Finance Bill 2014. We have listed below some of the more topical changes disclosed.

 Changes for the tax year 2014-15:

 Personal…

The following announcements were posted to the GOV.UK website last month. They provide details of some of the compensation being offered to businesses affected by last month’s flooding across the…

Having spent many years building a business, entrepreneurs can still look forward to a maximum tax hit of just 10% when they sell their business, as long as they have organised their business affairs…

This scheme can be beneficial for businesses that have a low proportion of costs that include a VAT input tax charge, and their business turnover, excluding VAT, does not exceed £150,000.

One…

 1 March 2014 – Self Assessment tax for 2012/13 paid after this date will incur a 5% surcharge.

 1 March 2014 - Due date for Corporation Tax due for the year ended 31 May 2013.

 19…

Employers have been warned recently that schemes setting out to avoid payment of wages to employees at the minimum rates set by the National Minimum Wage regulations will be penalised. Currently,…

Since the 1990s fees for playing at not-for-profit sports clubs has been exempt for VAT purposes. However, HMRC has asserted that only club members’ playing fees are exempt for VAT purposes. Any visiting…

Many victims of miss-sold Payment Protection Insurance are unaware that they need to declare any interest they received as part of their settlement on their tax return. HMRC have commented:

"The…

There has been significant press coverage recently suggesting that companies are hoarding cash. It would seem that this is one of the contributory factors affecting low levels of business investment.…