HM Revenue & Customs (HMRC) has launched an online form to help savers protect the most substantial pension pots. The form, launched on 12 August, provides a quick and easy option for certain people to apply for fixed protection 2014 for their lifetime allowance. From 6 April 2014, the lifetime allowance – the amount someone […]
New research has underlined the upbeat performance of ethical funds, highlighting the opportunities they offer to investors to enjoy healthy returns while sticking to their principles. Figures released by independent comparison website moneyfacts.co.uk on 14 August show the average ethical fund grew by 24 per cent over the last year, compared with 18 per cent […]
Insurance experts have launched a new service to help people approaching retirement to get the best annuity deal. The Association of British Insurers (ABI) is now publishing specimen annuity rates offered by its members to highlight the importance of shopping around for the best deal. Over 400,000 people buy an annuity each year, and getting […]
HMRC have introduced a Field Force Verification Helpline, so that taxpayers can easily check whether or not a caller on their doorstep claiming to be from HMRC is genuine. Every year, HMRC visit a small number of taxpayers who have not paid their tax or arranged to repay overpayments of tax credits, in order to […]
New research suggests that the number of workers on zero hour contracts, with no guarantee of hours or pay, are becoming more widespread. Research by the Chartered Institute of Personnel and Development (CIPD) shows that there are up to a million workers on zero hour contracts. The survey also showed that only 14% of workers […]
HMRC has published an updated list of their most wanted ‘tax fugitives’ and announced that a ‘fraudster’ has been apprehended at Heathrow Airport whilst travelling on a false passport, following almost ten years on the run. HMRC have published a gallery of its 2013 most wanted and announced the capture of one of the most […]
Earlier this year the government announced that it plans to introduce a new childcare scheme for working families. The proposal is that Tax-Free Childcare will provide 20% of working families’ childcare costs, up to £1,200 for each child. The scheme is expected to be introduced from 2015. The consultation invites interested parties to comment on […]
The ICAEW have issued a warning that individuals are being approached by firms offering to help them ‘unlock’ their pensions or access them early. Some unscrupulous firms are using misleading information and in some cases offering personal loans or cash incentives to entice savers to cash in their pensions early. This is known as pension […]
HMRC are advising that they have now fixed the issue with Annual PAYE schemes. HMRC received a number of requests since April from employers, asking that the status of their PAYE scheme be changed to annual. Due to technical issues they were unable to process the requests at the time. HMRC have now resolved the […]
HMRC are reminding parents with higher incomes who continued to receive Child Benefit after January 2013 that they must register for Self Assessment by 5 October 2013 to avoid any penalties in relation to the High Income Child Benefit Charge. HMRC have announced that they will be writing to approximately 2 million higher rate taxpayers […]
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