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Two Thirds of the 800 biggest businesses in UK under enquiry

HMRC have announced that the majority of the UK's largest businesses are currently under enquiry.

Jennie Granger, Director General of Enforcement and Compliance at HMRC said:

'We are enquiring into two out of three of the largest corporations operating in the UK - many of which are multinationals.

That is not to say that most large businesses are on the make. But it does highlight both the complexity of the international tax system in which they operate and our need to be very actively scrutinising how they negotiate their way through that system.'

HMRC's large business strategy has generated £31 billion in additional revenue over the last four years. Large businesses account for a quarter of the £34 billion estimated tax gap, and contribute around 60% of UK tax receipts.

Internet link: Gov News

04 Oct 2018

UK Budget date announced

The Chancellor of the Exchequer, Philip Hammond, has announced that the Budget will take place on Monday 29 October.

04 Oct 2018

Self-employed Class 2 National Insurance will not be scrapped

The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019.

04 Oct 2018

'No deal' Brexit guidance and small business survey

The government has issued further notices with the aim of helping both businesses and individuals to prepare in the event of a UK-EU agreement not being realised.