On 7 November 2017, regulations accelerating the date when “very large” companies must pay corporation tax by instalments, were made. For accounting periods that begin on or after 1 April 2019, companies with annual taxable profits above £20m will need to make quarterly instalment payments of tax in the 3rd, 6th, 9th and 12th month […]
Research from the British Chambers of Commerce (BCC) claims that VAT creates the biggest administration burden for around two-thirds of businesses in the UK. Of the 1,100 businesses of various sizes polled, 64% were confused by the array of rates and rules to comply with VAT legislation. This percentage is likely to increase in […]
HMRC has published new ‘advisory fuel rates’ (AFR) for company cars, which apply to journeys from 1 September 2018. Advisory fuel rates are set by HMRC so that employers can use these rates to reimburse company car drivers for business fuel. These rates can also be used if employees are required to repay the cost […]
A couple of weeks ago, Britain’s next biggest firms of accountants, behind the “Big Four”, met with competition regulators to discuss limiting the Big Four’s dominance of the plc Audit market. Amongst the proposals tabled were to limit how many FTSE350 company audits the ‘big four’ should be allowed to conduct. Officials from the ‘prize-chasing’ […]
