VAT

Tax changes from 1 April

A host of new tax changes affecting businesses and individuals have come into effect on 1 April. Here is a quick breakdown of the changes and how they may affect you.

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Scotland tax devolution legislation published

Draft legislation that will see the devolution of tax powers to Scotland has been published by the UK government.

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SMEs hindered by complex tax system, says business group

Half of small businesses spend between two and eight hours each month trying to understand and calculate their taxes and complete their returns, a survey by the Federation of Small Businesses has found.

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Prioritise VAT fraud and online trading risks, report tells HMRC

HM Revenue and Customs (HMRC) needs to do more to tackle VAT fraud and the emerging threat of losses from online trading, a report by the National Audit Office (NAO) has advised.

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CBI publishes tax principles for businesses

A statement of principles that sets out steps UK businesses should take in order to improve the transparency and understanding of their tax affairs has been published by the Confederation of British Industry.

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SMEs 'fear' returns and the taxman, says report

Small businesses worry about filling in tax returns correctly and dealing with HMRC, according to a report carried out for the tax authority.

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3p rise in fuel duty is postponed

The Government has announced the 3p rise in fuel duty, planned for August, will not go ahead this year.

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Charities, pasties and caravans: Chancellor makes series of Budget U-turns

Chancellor George Osborne has dropped plans to limit the amount of tax relief on charitable giving, after listening to the concerns of charities.

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EU trends show corporate and personal tax rates are on the up

The average standard VAT rates in the European Union's 27 countries have risen dramatically since 2008, a new report into taxation trends by the European Commission has found.

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Motorists tell Treasury to cut upcoming 3p fuel duty

Plans to increase fuel duty by 3p should be axed in order to boost the UK economy and create thousands of jobs, campaigning group Fair Fuel UK has told the Government.

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