Nov 25, 2024 | Business Regulation
HMRC has outlined changes to the reporting of benefits-in-kind (BiKs) expenses through payroll software, set to take effect from April 2026. Under the phased introduction, employers must report BiKs in real time via payroll software, except for employment-related...
Oct 23, 2024 | Business Regulation
Companies House is set to introduce significant changes to its enforcement and registration processes. These changes form part of the Economic Crime and Corporate Transparency Act 2023, which aims to crack down on fraud, money laundering, and abuse of the company...
Oct 17, 2024 | Business Regulation
Identity verification for all company directors and persons with significant control (PSCs) will begin in early 2025 as part of the Economic Crime and Transparency Act 2023 reforms. Over seven million directors will need to verify their identity before submitting...
Oct 11, 2024 | Business Regulation
As part of the Economic Crime and Corporate Transparency Act 2023, Companies House is introducing tougher penalties for companies that fail to comply with registration requirements. These new rules aim to combat corruption, money laundering, and fraud. The penalties...
Sep 23, 2024 | Business Regulation
Companies shutting down while still owing significant sums to HMRC are contributing to the UK’s growing tax gap, which reached nearly £40 billion in the 2022/23 tax year. HMRC has intensified efforts to hold directors and senior management accountable for unpaid...