HMRC issues new VAT reverse charge guidance

HMRC has made new guidance available about the domestic reverse charge for building and construction services, which is set to take effect from 1 October 2019. The reverse charge is a major change to the way VAT is collected in the industry, requiring the customer...

Retirees to outlive savings by 10 years

The average retiree in the UK is likely to outlive their retirement savings by more than 10 years, research from the World Economic Forum (WEF) claims. Women are expected to be the worst affected, outliving their savings by 12.6 years on average, compared to 10.3...

NAO: Most buyers did not need help-to-buy equity loan

Most of the households using the Government's help-to-buy equity loan scheme could have bought property without it, a report by the National Audit Office (NAO) shows. While the scheme had increased home ownership and housing supply since it was introduced in April...

1 in 3 self-assessment taxpayers under-pay

A third of self-assessment taxpayers did not pay the right amount of tax in 2016/17, resulting in an £8 billion loss to the Treasury, research claims. A paper published by the Social Market Foundation (SMF) found that of the 10 million people a year who filed...

Government urged to set date for audit reform

The Government is at risk of "kicking vital audit reforms into the long grass" if it doesn't act soon, the Business, Energy and Industrial Strategy (BEIS) committee has warned. This follows a report published by the BEIS committee on the future of audit, which called...