Productivity growth has slowed across much of the developed world in recent years. In the UK, however, where workers’ output per hour was already low in absolute terms, the deterioration has been an even more marked. British productivity is now no higher than it was just before the 2008 financial crisis.
In little under a year all businesses that file VAT returns will have no choice but to file those returns online and through dedicated accountancy software. The move is part of the Government’s Making Tax Digital programme, and businesses are far from ready.
The introduction of new pension freedoms in 2015 and economic conditions that have propelled transfer values higher over the last few years have combined to encourage more of us to consider the transfer of our often fated ‘gold plated’ Final Salary Pension Schemes.
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The support of Kreston Reeves’ VAT Team has proved invaluable in keeping our business on the right side of very complicated VAT legislation. After a full compliance review, issues with HM Revenue & Customs were resolved promptly, accounting processes were explained clearly and a VAT claim was repaid with the minimum of fuss. I would highly recommend the Kreston Reeves VAT Team to any business seeking guidance and reassurance about their VAT and other tax matters.
