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The latest tax, employment, business and economic news affecting firms and individuals alike. Updated each day.

Changes intended to simplify corporate tax for smaller companies will have the opposite effect and will add to the burden of tax compliance, the Institute of Chartered Accountants of Scotland (ICAS) has argued.

Firms have given their backing to government plans to raise the number of apprenticeship places available and to improve the apprenticeship system, a new report has said.

HM Revenue and Customs (HMRC) has created a series of short online video guides aimed at helping small and new businesses understand the tax issues facing them.

Lord Mandelson, the Business Secretary, has said that more than £1 million worth of loans are being made each day to small businesses as a result of a government guarantee scheme.

HM Revenue and Customs (HMRC) has announced that it has readjusted its policy of refusing some claims made by businesses for the repayment of overpaid VAT on the grounds that the repayment would unjustly enrich the firm.

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