New guidance has been issued by HM Revenue & Customs (HMRC) about a recently discovered capital gains tax (CGT) avoidance scheme, as the Revenue continues to try and prevent taxpayers from exploiting loopholes in the tax regime.

New research from the British Chambers of Commerce (BCC) has revealed that more than one in three businesses have not heard of the apprenticeship levy.

HM Revenue & Customs (HMRC) has announced the creation of a new Worldwide Disclosure Facility (WDF) that will allow people to ensure their affairs are correct before the Common Reporting Standard (CRS) comes into force on in October 2018.

Workers in a number of different sectors are often obliged to spend small amounts each year maintaining or replacing tools and special clothing, which are deemed necessary for them to carry out their employment duties.

New rules introduced as part of the government’s Making Tax Digital proposals could see fines for late tax payments triple.