Beatrice Bartlay, managing director of jobs agency 2B Interface, is spearheading a campaign to ensure that small businesses such as hers don’t suffer as a result of larger companies taking a lax approach to paying outstanding invoices. In perhaps one of the most significant pieces of VAT news for quite some time, Bartlay is calling for late payers to face a 20% VAT fine should they exceed a 60-day payment window. After this point, the offending company would pay additional VAT on the goods or services... Read more >

As official trade figures disappoint yet again, the CBI is unveiling a new package of export-boosting measures to help British firms unlock overseas opportunities. They include an incentivising tax break, a review of the practicalities of the Bribery Act and making export finance schemes easier to access. Although the UK is making progress in the fast-growing economies of Asia and Latin America – specifically the BRICs (Brazil, Russia, India and China) – it still lags behind some of its international... Read more >

The response by businesses to this year’s Budget has been muted, with some SMEs praising increased capital expenditure, a reduction in corporation tax and changes to the PAYE system, while others have said the Chancellor did not go far enough to help the UK’s small businesses. The rate of corporation tax is to be cut by a further one per cent – it’s currently 28 per cent, but is due to fall to 24 per cent next month and then to 21 per cent in 2014. In 2015, it will fall to... Read more >

HM Revenue and Customs (HMRC) is urging new businesses which need to register for VAT to do it online, rather than on paper. Registering for VAT online is easier, more secure and faster than using a paper form. As well as avoiding postal delays, the online system provides on-screen help and you get an immediate on-screen acknowledgment that HMRC has received your application. If you apply for VAT registration online, HMRC will also enroll you automatically for its VAT Online service, so you can submit... Read more >

HM Revenue and Customs (HMRC) has produced the Tax for Dentists guide, which includes:

- an overview of tax, National Insurance contributions and VAT
- help for the newly-qualified
- information on employing staff 
- guidance on keeping business records
- business expenses
- help with completing tax returns
- information on paying HMRC. HMRC’s Mike Purvis said:
”The e-learning tutorial is available online so that dentists can read it in their own time, when it is convenient.... Read more >

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