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What’s happening?

Here you can keep up to date with our latest news, as well as the latest goings-on in the world of accounting.

Many commentators had predicted that the Chancellor would further reduce the annual amount that can be saved into a pension as part of the Budget measures. However, these fears appear to have been unfounded as no changes were announced.The annua... Read More

Class 2 national Insurance contributions (NICs) are paid by self-employed taxpayers and members of partnerships if their annual profits are over £6,025. Class 2 NICs are payable at a flat weekly rate currently, £2.85. Class 2 NICs count towards payme... Read More

The annual investment allowance (AIA) limit is a generous capital allowance that will more than cover the annual capital expenditure spend of many small and medium sized businesses. The AIA is a 100% upfront allowance that applies to qualifying expen... Read More

The government has confirmed that, as a result of “low referral rates”, its national Fit for Work referral and assessment service will come to an end in England and Wales on 31 March 2018 and on 31 May 2018 in Scotland. The Fit for Work service... Read More

Acas has published new guidance for employers and employees that outlines what kind of workplace behaviours could be considered sexual harassment and how to report and handle it. The guidance covers:what is sexual harassment?how does sexual harassmen... Read More

In a written ministerial statement, the government has announced the proposed new rates for statutory maternity pay (SMP), statutory adoption pay (SAP), statutory paternity pay (SPP), statutory shared parental pay (ShPP) and statutory sick pay (SSP)... Read More

The married couple's allowance (MCA) is available to elderly married couples or those in a civil partnership where at least one member of the couple were born before 6 April 1935. The allowance provides for tax relief by deducting 10% of the allowanc... Read More

The biggest prize from the recent Budget went to first-time home buyers after the Chancellor announced changes to the stamp duty land tax (SDLT) rules. With immediate effect from Budget day, SDLT has been abolished for first-time buyers making a purc... Read More

The low-emission vehicles plug-in grant can help you save up to £4,500 on the purchase price of a new electric or hybrid car. The scheme was first launched in 2011 and is available across the UK and offers a grant towards the price of eligible n... Read More

As part of the Budget measures, the Chancellor announced that the indexation allowance for companies that make capital gains is to be scrapped. The indexation allowance currently allows companies or organisations to include the effects of inflat... Read More

The latest advisory fuel rates became effective on 1 December 2017. Fuel rates are reviewed four times a year with changes taking effect on 1 March, 1 June, 1 September and 1 December. You can use the previous rates for up to 1 month from the date th... Read More

As a general rule, someone who inherits property, money or shares is not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT) due should be paid out of the deceased's estate before any cash or assets are distributed to the... Read More