TWP is encouraging small businesses to take full advantage of the half a million pound Annual Investment Allowance (AIA) available to them now before the rate drops at the start of next year. This warning, from the firm of Weybridge-based Chartered Accountants, comes following the Chancellor’s Summer Budget statement in which he set the AIA […]
New official figures show that the number of people aware of pensions auto-enrolment is soaring. The Office for National Statistics released data on 24 June showing that only eight per cent of people surveyed between April-June 2014 were unaware of the workplace pension reforms, compared with 40 per cent in July-September 2012. An employer-based pension […]
New research suggests that three in five UK adults have no life insurance. Public opinion researchers YouGov revealed in its Life and Health Protection 2015 report, published on 9 June, that 60 per cent of more than 2,000 people it surveyed had no life insurance of any kind. Of these, only 17 per cent had had […]
More than a third of new mortgages being taken out today will extend beyond the borrower’s 65th birthday but lending to this age group is lagging far behind, the Council of Mortgage Lenders (CML) has revealed. Figures released at a CML conference in June showed that almost 35 per cent of new loans were not […]
Chancellor George Osborne has announced moves to strengthen retirees’ rights to access their pensions and remove barriers to doing so. He told the Commons on 17 June that the Treasury would consult to ensure that people were not charged excessive early exit penalties and were treated fairly when moving a pension to a company offering […]
Date What’s Due 1 July Corporation tax for year to 30/9/14 6 July Forms P11D and P11D(b) for 2014/15 tax year, and where appropriate form P9D 6 July Form 42 – shares issued to employees (see earlier) 19 July PAYE & NIC deductions, and CIS return and tax, for month to 5/7/15 (due 22 July […]
These rates are the suggested reimbursement rates for employees’ private mileage in their company cars and are reviewed each quarter on 1 March, 1 June, 1 September and 1 December. In line with an increase in fuel prices, the rates that apply from 1 June 2015 are as follows: Engine size petrol diesel LPG 1,400 […]
Whenever companies issue shares to employees and directors, they need to consider whether or not an entry needs to be made on the end of year HMRC Form 42. This form is used to report events relating to shares and securities obtained by reason of employment and now needs to be submitted online by 6th […]
The General Election result means that donations to the UK Independence Party now qualify for relief from inheritance tax as that party returned at least one member and secured at least 150,000 votes nationally. However, the Alliance Party in Northern Ireland now ceases to qualify. Remember that this relief applies to gifts during the donor’s […]
Further detail has emerged (in a leak to the Guardian newspaper) concerning a new Inheritance Tax (IHT) allowance announced in the Conservative Party election manifesto to set against the value of the family home. The proposed new family home allowance provides for an additional £175,000 nil rate band from April 2017, bringing a couple’s combined […]
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