The taxman has helped UK businesses survive the financial crisis by allowing
them to defer £5.13bn of tax by setting up 300,000 time to pay arrangements, HM
Revenue & Customs has revealed.
The Businesses Payment Support Service has been running for 15 months and has
set up the arrangemnts, which give companies breathing space on their tax bills,
at an average of more than 4,500 a week.
Advisers have voiced concerns it was getting tougher to join the scheme,
adding it would eventually have to close.
However HMRC has insisted the BPSS is still available and the eligibility
criteria have not changed.
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...