New style £50 note to be introduced

New style £50 note to be introduced

In a joint statement issued by HM Treasury and the Bank of England it had been confirmed that the £50 note is to continue to be part of the UK currency. The new £50 note will be designed and printed on polymer, a thin flexible plastic that includes a number of...
Finance (No.3) Bill and the Budget

Finance (No.3) Bill and the Budget

The Financial Secretary to the Treasury, Mel Stride has confirmed that the government will publish Finance (No.3) Bill on Wednesday, 7 November 2018. The Bill is so named as it is the third Finance Bill in the current special two-year session of Parliament. The Bill...
R&D Tax Credits claims soar

R&D Tax Credits claims soar

On 27 September, HMRC released the statistics for Research and Development (R&D) tax credit for 2000-01 to 2016-17. They are based on returns received on or before 30 June 2018. The statistics show that the total amount of R&D support claimed by businesses...
Company director imprisoned

Company director imprisoned

A director of a company that manufactured security systems has been found guilty of two counts of fraudulent trading and one count of fraudulently removing property in anticipation of winding up. He was sentenced to two years in prison after defrauding his creditors...
The end of late payments by large organisations?

The end of late payments by large organisations?

The government has been trying to combat the widespread issue of large businesses abusing their position by making late payments to small businesses. This initiative has included the launch of the voluntary Prompt Payment Code (PPC) in April 2017 where over 2,000...
The Digital Disclosure Service

The Digital Disclosure Service

HMRC has used targeted campaigns to recover underpaid taxes and penalties from specific sectors and industries where significant underpayment of tax has been identified. The use of these campaigns is part of the government’s continued moves to tackle tax evasion,...