New data from HM Revenue & Customs (HMRC) has shown that the amount of revenue collected from tax campaigns against wealthy professionals has increased by more than 60 per cent over the last year. Investigations by the department’s Affluent Unit, who look into the tax affairs of UK residents with an income between £150,000 or […]
Weybridge–based accountants TWP are warning people who filed their tax returns late to be prepared for fines and to deal with them quickly before they become a bigger issue. The latest figures from HM Revenue & Customs (HMRC) showed that more than 890,000 failed to return their self-assessment tax returns in time for this year’s […]
The BBC has launched an online calculator to help older people and their families assess the cost of care. When they enter their postcode into the calculator, it will provide typical costs locally for both residential care and care in their own home. The calculator also shows how the government’s £72,000 cap on care costs, […]
New research has revealed that pension saving is becoming established as a national priority. In research carried out for NEST (National Employment Savings Trust), a workplace pension scheme open to all employers and the self-employed, 2,000 people were asked how they would allocate their money if they had more of it to spend. Saving for […]
It should be easier for consumers to compare cash savings accounts and then switch providers if they wish, said the Financial Conduct Authority (FCA). The FCA comments came on 20 January, following a market study that showed competition in the £700 billion cash savings market often did not work well for consumers, particularly those with […]
The National Savings & Investments website and helpline are experiencing a high volume of enquiries following the launch of their 65+ Guaranteed Growth Bonds which are being referred to as ‘pensioner bonds’. The bonds are available for a period of one or three years. The taxable bonds offer savers interest of 2.8% over one year […]
The government has announced the launch of ‘Pension wise’ which will offer free and impartial guidance to people on the new pension freedoms which comes into effect in April. Economic Secretary to the Treasury Andrea Leadsom has unveiled the name and logo of the new pensions guidance service. Pension wise will offer free and impartial […]
HM Treasury is encouraging groups, individuals and representative bodies to submit their ideas for consideration in advance of Budget 2015. HM Treasury has also published guidance on the correct procedure for making a representation, which advises that ‘representations should contain policy suggestions for the upcoming fiscal event and explain the policy rationale, costs, benefits and deliverability […]
The Pensions Regulator (TPR) is to write to all small and micro businesses in the coming months as part of a new campaign to give them key information on auto enrolment, including when the duties affect their businesses. In addition the auto enrolment qualifying earnings bands and earning thresholds have been announced for 2015/16. These […]
HMRC are warning taxpayers to be wary of the latest in a long line of email phishing scams that claims taxpayers have ‘made mistakes while completing their last tax form application’. HMRC have updated their list of phishing email scams to include the latest bogus email being circulated. According to HMRC: ‘the email contains a […]
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