The number of people expected to be caught in the inheritance tax net is set to rise by around a third this year, according to recent predictions from the treasury. The reason for this increase is being blamed on the continued trend in rising house prices and the recovery of the UK’s economy which is […]
Every successful business has a strategy and a plan for the future and while this almost certainly takes into account the growth and direction of the company, it should also include business protection too. Although no-one expects to encounter problems when they start a business, this does not mean that they will not arise at […]
People who will benefit from greater freedom in accessing pension savings have been urged to seek expert advice if they are thinking about withdrawing significant sums. From April 2015, major changes to pension rules will enable pension savers to access all their defined contribution savings as they wish from the point of retirement, from age […]
Almost two-thirds of over-45s say they find the issue of care funding confusing, according to new research. The latest Third Care Index from Partnership, which provides retirement financial products, including care annuities, found that 61 per cent of over-45s admitted that they found the subject confusing. The research, published on 7 August, also found that […]
New research suggests that a new wave of first-time buyers is set to enter the UK housing market. The website www.unbiased.co.uk, which enables consumers to find professional advisers, published its First Time Buyer Confidence Index on 18 August, which found that nearly four in five (78 per cent) first-time buyers were confident of getting a […]
The Pensions Regulator (TPR) has issued the first quarterly bulletin which details how many times it has needed to use its formal powers to ensure employers comply with their automatic enrolment duties. The first of the new quarterly bulletins shows the regulator had used its powers on 23 occasions up until the end of June […]
In the latest Employer Bulletin HMRC are warning that employers’ who fail to submit their PAYE submissions, Full Payment Submission (FPS) or where appropriate Employer Payment Summary (EPS) on time will face penalties. The penalties are being introduced from October 2014. Penalty notifications will be issued on a quarterly basis. Please do get in touch […]
HMRC have warned that incorrect RTI letters have been issued. The full statement reads: ‘We are aware that a batch of RTI 201 letters has been sent to employers and agents in error, containing incorrect information about overpayments. Any employer or agent receiving one of these letters in August should please ignore it. Those wishing […]
HMRC have announced the details of their latest disclosure opportunity which is expected to give approximately 16,000 tax avoidance scheme users the opportunity to pay the tax they owe. The contractor loan scheme used non-UK employers to pay untaxed income or a loan instead of paying part of an employees salary. HMRC are inviting those […]
HMRC and the Pensions Regulator (TPR) are publicising the availability of revised leaflets which warn people of the consequences of pension liberation scams. HMRC are advising that individuals with pension savings continue to be targeted by unscrupulous companies encouraging them to access their pension savings early. Options are given for personal loans, cash incentives and […]
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