Making tax digital is live today, yet one million businesses are not registered

As of today, UK based businesses that have a taxable turnover above the VAT threshold of £85,000 will be required to switch to the new digital tax service to report earnings and calculate VAT owed. Continue reading Making tax digital is live today, yet one million businesses are not registered

HMRC reveals MTD registration takes seven working days

HM Revenue & Customs (HMRC) has warned that registration for Making Tax Digital (MTD) for VAT will take up to seven days to complete and will not be a real-time service. Continue reading HMRC reveals MTD registration takes seven working days

Shakira to face tax fraud accusation in Spanish court

The Colombian singer, Shakira whose estimated wealth is £176 million, is being investigated on suspicion of committing six separate counts of tax fraud against the Spanish Treasury totalling more than £12.5 million (€14.5 million). Continue reading Shakira to face tax fraud accusation in Spanish court

Surplus in CGT receipts boosts UK Government’s finances

According to the latest figures released by Office for National Statistics, income from taxes surpassed public spending by £14.9 billion, which has resulted in the Government’s largest January surplus since records began in 1993. Continue reading Surplus in CGT receipts boosts UK Government’s finances