News & Events | WDM - Part 6

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HMRC urges firms to register for MTD for VAT before August July 18, 2019

HMRC is urging businesses to register for Making Tax Digital for VAT (MTD for VAT) before the 7 August VAT filing date. HMRC stated that ‘many of the 1.2 million businesses affected by MTD for VAT will be required to submit their first quarterly return using compliant software by 7 August’. Firms paying by direct
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Government publishes Finance Bill 2019-20 draft legislation July 18, 2019

The government has published draft legislation for Finance Bill 2019-20. One of the primary objectives included in the draft legislation is to ‘update tax policies for the digital age’. The legislation outlines that, from April 2020, large digital firms will be required to pay a new Digital Services Tax (DST). The DST will apply a
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TPR issues pension scheme warning to savers July 11, 2019

Pension savers should check that their scheme is not underperforming, the Pensions Regulator (TPR) has warned. The warning followed the publication of a consultation paper by the TPR, which highlights the problem of badly run pension schemes. According to the TPR, the trustee model can be made more effective to reduce the number of poorly
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FSB states small businesses ‘incurring mammoth costs’ as result of business crime July 11, 2019

The Federation of Small Businesses (FSB) has stated that small firms are incurring costs of nearly £17 billion each year as a result of so-called ‘business crime’. The business group has called for the government to increase police numbers. According to the FSB, increasing police numbers could prove to be a ‘critical step’ in helping
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Many working parents eligible for tax-free childcare this summer July 11, 2019

Working parents could ease this summer’s childcare costs by using a Tax-Free Childcare (TFC) account that’s worth up to £2,000 a year for each child. The TFC account allows parents to save regularly for childcare costs. And for every £8 saved the government will make a top-up payment of £2. The money saved can be
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