A leading tax body has criticised the changes to the current ESC C16 regime, which caps the amount of a final dividend distribution that is eligible for favourable tax treatment when a company is wound up.
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The latest small business news updates…
The latest Aviva SME Pulse report paints a rather depressing picture of entreprenurialism in the UK today, with one third of SME owners saying they are losing the drive to go it alone, and may even consider returning to the mainstream jobs market.
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A North-West accountancy firm has warned small businesses that they may be investigated by HMRC is they have failed to register for VAT, following an amnesty period which ended on December 31st.
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According to the ICAEW, the start of a new year is a good time to think about starting up on your own, and given the importance of SMEs to the community, the Government is currently conducting an enquiry into entrepreneurship.
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Time is running out if for businesses used to submitting paper VAT returns each quarter. From April, all VAT registered visitors will have to submit their returns via the web, and settle their liabilities electronically too.
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Figures show that investment under the Corporate Venturing Scheme surged by 65% in its final year, leading some experts to suggest that the Government were too hasty in scrapping the scheme.
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As the number of unemployed continues to rise, the economic downturn has created a surge in self employment, with over 4.1m people now working for themselves.
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New data from Experian shows that a regional divide has opened up, with the proportion of business failures in the North significantly higher than the number recorded in the South.
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A North West accountancy firm has warned small business owners that they should tighten their credit control management, as it has emerged that HMRC is increasingly resorting to asset seizures to tackle late paying businesses.
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From 1st April 2012, all VAT returns must be submitted online, and all VAT liabilities must be settled electronically, as HMRC continues to overhaul its paper-based systems and make the most out of web technology.
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We’re into December, which means there’s less than 2 months left until all self-assessment tax returns must be safely with HMRC, warns Emily Coltman ACA, Chief Accountant at FreeAgent.
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An online survey reveals how small companies are holding their own against their larger competitors on the web, and could even have a competitive edge by virtue of being smaller.
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In his Autumn Statement to Parliament Chancellor, George Osborne made a series of announcements including; lower growth forecasts, higher borrowing figures, a 1% Public Sector pay freeze and the scrapping of the 3p/litre rise in fuel duty planned for January.
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In his Autumn Statement, the Chancellor of the Exchequer has further outlined his plans to help small businesses to access much-needed funding with the ‘credit easing’ scheme, which will be facilitated by the launch of a new National Loan Guarantee Scheme.
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The Deputy Prime Minister Nick Clegg has revealed the Government is to address the high levels of unemployment among young people with the launch of the Youth Contract.
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This week is Global Entrepreneurship Week, which aims to help entrepreneurs pursue their dreams and build the businesses of tomorrow.
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New figures released by the Bank of England show the big banks are missing the small business lending targets they agreed with the Government under “Project Merlin”.
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HMRC has announced the creation of five new taskforces to tackle tax evasion by specific types of businesses and taxpayers in different areas of the country.
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Small and medium-sized businesses are now owed a record £33.6 billion in late payments according to the latest late payment survey by Bacs.
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