Wealth Management News

Could lenders potentially pay you to borrow?

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A former policymaker at the Bank of England has suggested that, in the event of an economic slowdown after Brexit, interest rates could drop below zero per cent. David Blanchflower, a former member of the Bank’s Monetary Policy Committee, believes that as a last-ditch measure to encourage spending in the UK, banks could be encouraged […]

Business News

Households with landlines should be vigilant

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Over recent years HMRC has increasingly cracked down on email and SMS phishing,  and a number of criminals are turning to cold-calling publicly available phone numbers to steal money from taxpayers. These calls are often made to landline numbers. According to Ofcom, nearly 26 million homes have a landline, many of which could be at […]

Business News

Latest update for employers

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HMRC has issued Employer Bulletin (February 2019) which includes a number of interesting articles on: End of year reporting Reporting expenses and benefits Student Loan notices and a new type of Student Loan repayment that employers will need to be able to process via payroll (Post Graduate Loans) Updates to the Starter checklist – used […]

Business News

Pensions auto enrolment contributions to rise

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Minimum pension contributions are set to increase from 6 April 2019: Duration Employer minimum Total minimum contribution Current contributions 2% 5% 6 April 2019 onwards 3% 8% The Pensions Regulator has produced guidance for employers on dealing with the increase including a letter template to advise employees of the change. Contact us if you would […]

Business News

Minimum Wage increases

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The National Minimum Wage (NMW) and National Living Wage (NLW) are the legal minimum wage rates that must be paid to employees. Employers are liable to be penalised for not complying with the NMW and NLW rules. There are different levels of NMW and NLW, depending on age and whether the employee is an apprentice. […]

Business News

Scottish income tax bands confirmed for 2019/20

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The Scottish Parliament has confirmed the income tax bands that will apply to Scottish taxpayers for 2019/20. The bands confirm the announcement made in the Draft Scottish Budget last December. The 2019/20 income tax rates and bands for Scottish taxpayers on income (other than savings and dividend income) are as follows: Scottish Bands £ Band […]

Business News

Advisory fuel rates for company cars

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New company car advisory fuel rates have been published which take effect from 1 March 2019. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on […]

Business News

Start date looming for Making Tax Digital for VAT

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The Financial Secretary to the Treasury, Mel Stride, has made a statement to the House of Commons setting out HMRC’s progress on delivery of Making Tax Digital (MTD). He confirmed there would be no further delays in implementation. For most businesses, compliance with the regulations is mandated for VAT return periods beginning on or after […]

Business News

HMRC advice – prepare for no deal

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HMRC is urging business owners to make sure they are ready for a potential no deal Brexit. Business owners are being urged to prepare now and take steps to ensure their businesses can continue to trade with the EU if the UK leaves the EU without a deal. HMRC advise: Businesses should register for an […]