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Bitcoins - The Revenue Comes Calling

Watch Out, Watch Out The Revenue are about.... It is that time of year many a self-employed person dreads, the deadline to submit your tax return and pay anything you owe. But this year there is a question a select few should be asking themselves - have I profited from my investment in crypto-currencies? If you have, you could be liable for tax. In 2014 Revenue & Customs published guidelines making clear the different taxes that apply to any earnings from crypto-currencies. For most people who have bought a few bitcoins some years ago, it is Capital Gains Tax that will be relevant. This will apply to any profits, once you hit the £11,300 CGT threshold, not just if they are converted into

SME's are paying more tax than big corporates

SMEs are paying a higher effective rate of corporation tax than bigger businesses, according to research from Moore Stephens. The effective rate of corporation tax paid by SMEs was 21.7% in 2016, compared with 20.1% paid by businesses with turnover over £1bn. Recent tax rate reductions have clearly focused far more on encouraging larger businesses than SMEs. In 2010 SMEs paid a headline corporation tax rate of 21% compared to the main rate of 28%, but large businesses have had their corporation tax rate cut by almost a third since then, resulting in an imbalance. Just a few years ago SMEs benefited from a corporation tax rate discount of one quarter on the full rates. A corporation tax disco
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