Trustees must register their trust with HMRC by 5 March 2018

All existing trusts that incurred a tax liability during 2016/17 are required to register using the Trust Registration Service (TRS) even if a 41G form has been submitted. What's involved? What counts as a tax liability? A liability to income tax, capital gains tax, inheritance tax, stamp duty land tax, stamp duty reserve tax or … Continue reading Trustees must register their trust with HMRC by 5 March 2018

Small firms urge tax reform as they lose £5,000 and 15 working days a year to compliance

The average UK small business spends £5,000 and three working weeks every year on tax compliance, according to the latest report from the Federation of Small Businesses (FSB). Taxing Times highlights the many hurdles small businesses face when trying to pay taxes. Almost half (46%) say determining the tax rates at which they’re required to … Continue reading Small firms urge tax reform as they lose £5,000 and 15 working days a year to compliance