Here you can keep up to date with our latest news, as well as the latest goings-on in the world of accounting.
It is not unusual for taxpayers to find themselves in a position where they disagree with a tax decision made by HMRC. There are a number of different options open to taxpayers seeking to use the review and appeals process.Note, there is a separate p... Read More
A new measure to tackle disguised remuneration tax avoidance schemes was announced as part of the Autumn Statement 2016. The new measure will introduce a loan charge on disguised remuneration avoidance schemes that remain unpaid on 5 April 2019.These... Read More
If you have been in the same job for two years or more and are made redundant you will usually be entitled to a redundancy payment. The legal minimum that you are entitled to receive is known as ‘statutory redundancy pay’. There are exceptions w... Read More
Businesses that are starting to import goods for the first time need to be aware of a myriad of special rules that apply. Whilst most smaller businesses importing goods will use a courier or freight forwarder, it is still important to be aware of the... Read More
The High Income Child Benefit Charge (HICBC) applies to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. The charge either reduces or removes the financial benefit of receiving child benefit. Where both pa... Read More
This may come as a surprising fact to many of our readers, but a will can be changed after death. This can be done by using what is known as a Deed of Variation. Any changes to the will must be done within two years from the date of death. However, b... Read More
Is your bank deposit protected?The bank deposit guarantee limit is the amount of money that is guaranteed for savers in UK banks and building societies should the institution become insolvent. The Financial Services Compensation Scheme (FSCS) guarant... Read More
The Government has announced that the planned abolition of Class 2 National Insurance Contributions (NICs) is to be delayed for a year. The withdrawal of Class 2 NICs was due to take place from April 2018 but will now take place one year later from A... Read More
The Office of Tax Simplification (OTS) provides advice to the Chancellor on simplifying the UK tax system, with the objective of reducing burdens on both businesses and individual taxpayers.It was announced as part of the Autumn Statement 2016, that... Read More
The current National Minimum Wage (NMW) hourly rate for adults between 21-24 years old is £7.05, and the national living wage is £7.50 for those aged 25 and over. The Living Wage Foundation (an initiative of Citizens UK), recently announced living wa... Read More
The bank deposit guarantee limit is the amount of money that is guaranteed for savers in UK banks and building societies should the institution become insolvent. The Financial Services Compensation Scheme (FSCS) guarantee amount is currently £85,000... Read More
In a widely expected move, the Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the Bank Rate from 0.25% to 0.5%. This is the first increase in interest rates since July 2007 when the rate increased to 5.75%. T... Read More
