One of Weybridge’s leading accountancy firms, TWP, is calling on businesses and the contractors and consultants they employ to start preparing for a major tax rule change, which could lead to substantial payroll costs for many businesses. The off-payroll rules, more commonly known as IR35, are due to be extended to the private sector from […]
From 1 October 2019, a new VAT domestic reverse charge regime for the construction industry will come into force. This will significantly affect the VAT affairs and tax liabilities of companies both inside and outside of the construction industry and so it is vitally important that businesses are ready. What is the VAT domestic reverse […]
From April next year the off-payroll tax rules, more commonly referred to IR35, will be applied to the private sector for the first time. This controversial change will see many contractors and consultants who work through a personal service company (PSC) be reclassified as workers, which will mean that they and their employers may be […]
The West Midlands has taken the top spot for the fastest-growing rents in the UK, according to a new report prepared by Your Move. Rents in the region grew by four per cent to £641 per calendar month (pcm) during the 12 months to the end of April 2019. The most expensive region for rents […]
According to new research around two-thirds of people from Generation Z (those born between the mid-1990s to mid-2000s) have less than £1,000 in savings. As many of these young adults leave full-time education and start work it is a worrying trend that so few have any form of significant saving, even though more than 40 […]
A Freedom of Information (FOI) request has revealed that thousands of grandparents may be missing out on a boost to their state pension. The ‘specified adult childcare credit’ gives a grandparent and some other guardians National Insurance credits if they care for a child under the age of 12 when their parents are at work. […]
A recent Low Pay Commission (LPC) report sets out its findings on the number of people being paid less than the statutory minimum wage. The LPC found that, in April 2018, 439,000 workers were paid less than the National Minimum Wage (NMW). Of this amount, 369,000 were employees aged 25 and over, who were paid […]
New company car advisory fuel rates have been published which take effect from 1 June 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 […]
A capital gains tax (CGT) exemption applies when an individual disposes of a dwelling that has been used as their only or main residence under the Private Residence Relief (PRR) rules. The exemption applies as long as the relevant conditions are met throughout the total period of ownership. This relief is supplemented by ancillary reliefs […]
The government has launched a consultation on proposed reforms at Companies House, including a ‘major upgrade’ of its register. The consultation aims to tackle misuse of the register. It also strives to provide business owners with ‘greater protection from fraud’. The consultation seeks views on a series of reforms to limit the risk of misuse: […]
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