Entrepreneurs who use pre-pack administrations to revive collapsed companies
could be thwarted by HMRC seeking up top £100,000 in VAT.
The taxman has brought back into use a little-known VAT law that allows it to
demand a penalty fee or “security for future VAT” for those restarting
businesses, according to
The amount HMRC can demand is based on the company’s own declaration of
estimated future revenue.
The policy was attacked by the Federation of Small Businesses, which claimed
it goes against the government’s efforts to encourage failed business owners to
restart and risked thwarting enterprise.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states