Business tax

HM Revenue and Customs (HMRC) is facing £8.5 billion in claims for overpaid VAT.

Concerns have been expressed over plans by HM Revenue and Customs (HMRC) to make the online filing of company tax returns in a new format compulsory.

Many thousands of smaller businesses could see an increase in their administrative burdens if new accounting rules on leasing come into effect, it has been claimed.

HM Revenue & Customs (HMRC) has said that, as from 13 July, it has started to send penalty notices to employers who have not yet filed their 2007-08 form P11D(b) Annual Returns.

Increases in business and personal tax pose a risk to the health of the UK economy, a survey has suggested.

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