Read on for the latest accounting, tax & business news from TidyCloud
Financial benefit of MTD could be as high as £915 million
The financial benefits of MTD for VAT could be as high as £915 million, according to analysis carried out by HMRC.
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End of tax year 2024/25
The 2024/25 tax year ends on 5 April. Now’s your last chance to make sure you take advantage of the tax incentives available to you.
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Government consults on mandatory e-invoicing
The government has launched a consultation on plans for the rollout of electronic invoicing (e-invoicing) in the UK.
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Proposed HMRC powers to collect data on hours worked scrapped
The government has stopped controversial plans to collect information about the exact hours worked by every employee in PAYE returns.
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MTD – HMRC to start contacting taxpayers
HMRC has announced that from April 2025, it will write to sole traders and landlords who may need to comply with making tax digital (MTD) for income tax from April 2026.
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Employers’ NIC increase April 2025
Tax rises were announced in Chancellor Rachel Reeves’ autumn budget – and an increase in employers National Insurance (NI) contributions was one of them.
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Parliamentary watchdog accuses HMRC of deliberately ‘degrading’ phone services
Parliament’s spending watchdog has accused HMRC of deliberately running down its phone services to force people to go online, according to a report.
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Employment plan will harm jobs, warns small firms
Small firms fear the new Employment Rights Bill will harm recruitment, according to a survey by the Federation of Small Businesses (FSB).
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HMRC could save millions of hours with tracking system
HMRC could save an estimated 1.7 million hours of call handlers’ time every year if it implemented an automated status tracking system.
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