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Grants of up to £100,000 made available to boost Cornish High Streets

7 Nov 2023

Communities across Cornwall can now apply for grants of up to £100,000 to improve High Streets, the council has said.
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Warwickshire County Council launches campaign to promote Christmas shopping at independent businesses

6 Nov 2023

A Christmas campaign encouraging Warwickshire’s independent town businesses to shout about why shoppers should buy from them this year is making a comeback.
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The Times names prettiest towns for indie Christmas shopping

6 Nov 2023

With just over six weeks until Christmas, The Times has named what it says are the seven prettiest towns in the UK for Christmas shopping, making special mention of the presence of independent... Read more…

Cardmitment campaign launched to remind people of the power of sending greetings cards

23 Oct 2023

Cardmitment campaign launched to remind people of the power of sending greetings cards
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New guides welcome on how to make shops more accessible for the elderly

23 Oct 2023

The International Longevity Centre has released new guides to show the steps retailers need to take to make their shops more accessible for the elderly.
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Bristol sandwich shop named best in the UK

23 Oct 2023

Family-run Bristol sandwich shop Sandwich Sandwich has been named best in the UK at the UberEats awards.
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Convenience stores to trial UK’s first digital proof of age card

23 Oct 2023

Convenience stores are set to be part of a testing programme for the UK’s first digital proof of age card.
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Police deploying facial recognition technology to target shoplifters and other retail criminals

23 Oct 2023

“Game-changing” facial recognition technology is targeting prolific retail criminals, including shoplifters.
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Prime Minister's Funding Injection for Left-Behind Towns Welcomed by Bira

10 Oct 2023

British Independent Retail Association (Bira) acknowledges the Government's investment in towns across the UK.
 
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Indie retailers say policing minister’s citizen’s arrest solution to retail crime is ‘high risk’

9 Oct 2023

Policing minister Chris Philp has encouraged shop workers to make ‘citizen’s arrests’ on shoplifters, a message branded as ‘dangerous and irresponsible’  by... Read more…

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Small businesses feel penalised by "intensive" HMRC investigations

Posted on in Business News, Cycles News, Creative News, Outdoor News

Research commissioned by HMRC showed that over half of small businesses find HMRC investigations too intensive and disruptive.

The research showed that 52% of small businesses find HMRC tax investigations to be too intensive, and 56% said they did not believe that HMRC attempted to minimise disruptions caused by the cost, time and effort required by the inquires.

In April 2018, the Treasury select committee heard that 1 in 10 small businesses are under tax investigation at any given time.

These investigations form a part of HMRC's efforts to clamp down on tax avoidance, as the authority believes that small businesses were responsible for 41% of the tax gap in the 2016/17 tax year.

calculatorHowever the research also said that 48% of businesses do not believe HMRC's penalties are fairly distributed, and that smaller businesses are unfairly targeted.

On average, a comprehensive HMRC tax investigation lasts around 16 months, causing disruption and lost time and money for hard-working entrepreneurs.

The best route to avoid an HMRC enquiry would be to employ an accountant to properly take care of everything, but you could still be investigated. Even if your business is successful in defending itself against a tax investigation, you will be responsible for covering any costs or losses incurred during the investigation from HMRC.

To protect your business, every paying ActSmart subscriber has free tax investigation protection, to cover these cost - a service which many businesses pay c.£150 for through their accountant. 

ActSmart subscriptions are available from just £30 per annum and give you access to tax investigation protection, card processing services, 24/7 legal helplines, consumer promotion, online employment manual and general business support all year round.

Join today or contact us to find out more.

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