Accounting News - September 2012

	Taxpayers count £1,200 cost of failing to file returns Around half a million people who have not yet submitted 2010/11 tax returns to HM Revenue & Customs (HMRC) are now receiving additional penalty letters. more
	1 in 3 businesses not aware of RTI, research finds One-third of small businesses are not aware of Real Time Information (RTI) and how it will affect their PAYE systems, according to new research. more

Contractors ‘could cut SME tax bills by £2bn’

Businesses could slash their tax bills by up to £2 billion by using self-employed contractors, according to professional advice website unbiased.co.uk. more

Keep HMRC informed, warns business group

An organisation representing small businesses has warned entrepreneurs to fully update HM Revenue & Customs (HMRC) about any changes to their operations, following a report that one firm is facing a £10,000 fine for not telling HMRC it had changed its name. more

Retailers hit by £205m e-crime bill

A pioneering study of e-crime has revealed that e-crime cost UK retailers at least £205.4 million in 2011-2012. more

Firms ‘at risk on insurance cover’

New research has shown that more than a third of UK small or medium enterprises (SMEs) could be putting their business at risk by failing to insure their key staff. more

New CIS guidance issued

HM Revenue & Customs (HMRC) has issued updated guidance for subcontractors operating as limited companies on reclaiming any deductions taken from their payments under the Construction Industry Scheme. more

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