The aim of this new scheme is to stimulate lifetime giving by encouraging taxpayers to donate pre-eminent objects, or collections of objects, to the nation. In return, donors will receive a reduction in their income tax liability based on a set percentage of the value of the object they are donating.
The recent volatility of the FTSE 100 might make people wary of investing in stocks and shares, but this new tax-efficient product does have plenty of long-term attractions in the right circumstances. Your IFA can advise fully, but as far as the tax rules are concerned there is complete income tax and capital gains tax […]
This is often seen as overly complex, with many pensioners subject to PAYE before retirement but self-assessment afterwards when they may have several small sources of income that may or may not need tax deducted. A perennial problem indeed! It is not the amount of income that makes somebody’s tax affairs complex – rather it […]
You may have suffered a penalty from HMRC due to late filing of a tax form, and no doubt you will have felt aggrieved but at the same time realised that ordinarily there is little or no scope to get the penalty reduced or withdrawn. A brave taxpayer took on HMRC recently and won! It […]
New research has highlighted the potential scale of organisations and businesses failing to comply with EU directives on downloading cookies.
The Employment Appeal Tribunal (EAT) has found in favour of an NHS employee, ruling that she was entitled to payment in lieu of holidays she had been unable to take while on sick pay for a year. The NHS Leeds worker was signed off sick for the whole of 2009-2010 and was then dismissed on […]
New rules affecting employers who take on agency and temporary workers will take effect from 1 October 2011. From that date, the Agency Workers Regulations mean that agency workers who work in the same role with the same hirer for 12 continuous calendar weeks will be entitled to the same basic employment and working conditions […]
Businesses have been urged to do more to protect customers’ data after hackers were able to access the payment details of thousands of customers of cosmetics and toiletries retailer Lush. Lush breached the Data Protection Act after the security of its website was compromised for four months, the Information Commissioner’s Office (ICO) said. The breach, […]
The Office of Fair Trading (OFT) has launched a new online resource to help businesses comply with the law when selling goods and services at a distance, such as website or mail order sales The Distance Selling Hub provides information about the rules and regulations that apply to the sale of certain goods and services […]
The government has bought forward the closure of a loophole that allowed businesses to accelerate capital allowances claims for plant and machinery and obtain advantageous early tax relief. The change was announced on 12 August by Economic Secretary to the Treasury Justine Greening and took effect immediately. The closure of the loophole, which was originally […]