Government has launched a consultation to evaluate whether the changes to the
tax regime for bingo taxation have brought the savings sought.
In 2003 the tax system for bingo duty was simplified, removing the need to
calculate added prize money charges and moved the duty calculation from a weekly
The change would have created one-off transitional costs, resulting from the
need to train staff and change accounting systems, but overall the change would
The government is looking into to whether these savings have been realised
and will run the consultation until February 2006.
MTD represents 'the single most significant change to the UK’s system of taxation in recent times', says Knill James partner Nick Rawson. So, how prepared are SMEs for digital tax reporting?
The SME community voices concern about the chancellor's measures in the Spring Budget
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Unincorporated businesses under the VAT threshold given an extra year to prepare before MTD becomes mandatory