Business rates need reform, CBI says

The business rates system has become "uneconomical" and "unsustainable", and should be reviewed, according to the Confederation of British Industry (CBI). Business rates are a tax on most properties used for business purposes, and are calculated based on an estimate...

SMEs think UK tax system is ‘unfair’

Most small business owners do not think the tax system treats their business fairly, according to research from the British Chambers of Commerce (BCC). In a survey of 1,000 firms, 58% of SME owners said they think the UK tax system is unfair., while 67% don't believe...

Tax contribution from UK businesses up in 2018/19

Analysis of government data by a body representing British businesses has found that together UK firms paid £196 billion in taxes in 2018/19. In 2017/18, the total bill was £188 billion. At the current rate, the CBI says, UK firms are contributing 27% of tax revenue,...

Most contractors unaware of IR35 changes

Contractors are still not fully aware of the changes to tax legislation that are set to take effect in a year's time, according to a survey from the Recruitment and Employment Confederation (REC). IR35 rules were reformed for the public sector in April 2017, with the...

Making Tax Digital for VAT takes effect

More than a million VAT-registered businesses have now been mandated into the Government's Making Tax Digital (MTD) programme, which came into force on 1 April 2019. Under the scheme, businesses that are registered for VAT with a turnover of more than £85,000 are...