As if Brexit was not a significant enough event for British businesses to have to deal with in April 2019, HMRC are introducing Making Tax Digital for VAT (MTD for VAT). With effect from 1 April 2019, businesses with a turnover above the VAT threshold (currently £85,000) will have to:
For many businesses, it is tough to reduce costs. A high proportion are "fixed" and in many an even higher proportion are committed or would cost money to avoid/reduce.
Under auto-enrolment law, minimum contributions to both (group) personal pension schemes and trust-based occupational defined contribution (DC) schemes will increase from 6 April 2018 and again from 6 April 2019, with the aim of improving long term saving and financial stability for peoples retirement.
When Theresa May and Jean-Claude Juncker signed up to the Joint Report of the negotiators for the EU and the UK Government on 8th December 2017, this signalled the conclusion to Phase 1 of the Brexit process allowing the negotiations to move on to phase 2.