Read on for the latest accounting, tax & business news from TidyCloud
Harsh personal guarantees will chill growth ambitions, warns FSB
Personal guarantees risk holding back the growth the economy needs, the Federation of Small Businesses (FSB) has warned.
HMRC to fine crypto investors £300 for non-disclosure
UK-based holders of cryptoassets will have to provide personal details to crypto service providers or face penalties of up to £300 from HMRC.
HMRC sends side hustle warning
HMRC is warning those earning extra income through a side hustle to check if they need to register for self assessment and file a tax return.
UK government launches Industrial Strategy
The UK government is aiming to slash energy prices, unlock investment and upskill the workforce in its Industrial Strategy.
Tax gap estimated at 5.3%
The tax gap estimate was 5.3% for the 2023/24 tax year, according to the latest data from HMRC. The tax gap is the difference between what tax is expected to be paid and actually paid.
Advisory fuel rates for company cars (June 2025)
New company car advisory fuel rates have been published and took effect from 1 June 2025.
Government introduces Pension Schemes Bill
The government has introduced the Pension Schemes Bill, which it says will make pensions easier to understand and manage.
Almost half of sole traders unprepared for MTD changes
Almost half of UK sole traders feel unprepared for upcoming Making Tax Digital (MTD) for Income Tax changes, according to research conducted by IRIS Software.
Parents of teens reminded to extend Child Benefit claim online
Parents of 16 to 19-year-olds will receive reminders from HMRC to extend their Child Benefit claim by 31 August if their child is staying in education or training or payments will automatically stop.