Business tax

Plans by HM Revenue and Customs (HMRC) to upgrade the IT system that is used to handle PAYE tax and national insurance details could result in temporary interruptions to the service.

HM Revenue and Customs (HMRC) has said that it is looking at making changes to the way that expenses and benefits provided by employers are handled for tax purposes.

The amount of tax which small firms have asked to delay paying under the government’s Business Payment Support Service has risen to £2.5 billion.

HM Revenue and Customs (HMRC) has announced changes to the advisory fuel rates for company cars as of 1 July.

A new survey has revealed that for many firms delays in invoice settlement are on the increase, while the reduction of the VAT rate has not been effective in tackling the downturn in business.

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