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19 Jul

Business Will Require Software For Digital Tax Accounts

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Businesses will need to submit their tax and financial information quarterly using software that's compatible with HMRC's systems.

In a letter to financial secretary to the Treasury, David Gauke, Andrew Tyrie, chairman of the Treasury Select Committee, said that submitting records in a 'prescribed digital format' would bring a financial burden to small firms that currently don't have accounting software or use computers.

In his reply David Gauke said:

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04 Apr

"Real Test" For Auto-Enrolment Ahead

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Auto-enrolment has been a success for larger employers, but the "real test" lies ahead as smaller employers begin to enrol their employees, a report by the Public Accounts Committee has concluded.

1.8 million smaller employers will soon begin the process, but the Committee notes that The Pensions Regulator does not yet have access to the real-time information needed to ensure a smooth roll-out.

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04 Apr

Self-Employed Workforce Continues To Grow

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The number of people choosing to become self-employed has continued to grow, making up 15% of the total workforce.

Now numbering a record 4.6 million, the self-employed population has increased by 800,000 since 2008.

The analysis by the Department of Business, Innovation and Skills also shows that becoming self-employed is proving increasingly attractive to older people.  43% of self-employed people are aged 50 and over while 11% are under 30.

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