We are quickly approaching that time of year again the days are getting shorter, the mornings that little bit frostier and there is only one thing that most people are focused on – their tax return. The clock is quickly ticking away on the self-assessment tax return deadline and with only a few months left […]
Weybridge-based accountants TWP says the Chancellor, Philip Hammond, has given businesses time to plan for the future after he abolished Autumn Statements and moved the UK to a single fiscal statement to be delivered in the autumn. The surprise announcement followed calls to reduce the number of tax changes each year and to give businesses […]
Millions of people in the UK who hold money in ‘traditional’ saving accounts could see the value of their holdings dwindle as rates continue to fall and inflation rises to 1 per cent. According to one study by Savings Champion, more than 600 accounts now offer less than 0.3 per cent, while there are more than […]
A new study has found that for the first time since the 1930s, property lettings may overtake property sales – a trend which could affect the buy-to-let market. In recent months the buy-to-let sector in the UK has been hit time and time again by changes to tax and regulations. All of which have damaged […]
A new report from the Office for Budget Responsibility (OBR) has found that changes to the tax regime may make pensions less attractive than ISAs to many wealthy workers. Since 2010, the UK pension tax regime has experienced a number of changes. The OBR paper examined these changes to taxation for private pensions and savings, which […]
The government has announced that it is shelving plans to allow pensioners to sell their annuities for a lump sum. Many experts had predicted that those who sold their annuities would be likely to get a poor deal and the government has decided not to take forward the plans to introduce a secondary annuities market […]
The Charity Commission for England and Wales, together with members of the Charity Sector Counter Fraud Group, have launched a new website to help charities tackle fraud. The website is designed to provide guidance for trustees, staff and volunteers who want more information on tackling fraud in their charity, and includes guidance, tips and case […]
HMRC have updated their guidance to taxpayers on how to spot phishing scam emails. Phishing is the fraudulent act of emailing a person in order to obtain their personal/financial information such as passwords and credit card or bank account details. These emails often include a link to a bogus website designed to encourage the unwary […]
The Office for National Statistics has announced that the UK tax gap fell in 2014/15 to its lowest ever level of 6.5%. The press release confirms that the UK tax gap, the difference between the amount of tax due and the amount collected, is one of the lowest in the world. HMRC have reduced the […]
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