MFI has reached an agreement with HMRC over a long-running VAT dispute on its
insurance-backed structural guarantees.
The furniture retailer paid all of the relevant VAT and was shown as a
receivable on its balance sheet of £60.5m, however, HMRC has paid MFI £21.8m,
with the rest written off its accounts.
MFI anticipates receiving the cash in mid-February.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...