The latest NLP newsletters have been published today. As ever, there are two newsletters covering key developments in personal and business finance respectively. The Personal Tax Newsletter contains vital information regarding the Requirement to Correct. Anyone with undeclared overseas income has until the 30th of September to amend their records. The mailout also covers recent … Read more Read the Latest NLP Newsletters
Category: Company News
Business urges government to reform Apprenticeship Levy In response to the publication of official apprenticeship statistics, business groups have urged the government to reform the Apprenticeship Levy. The organisations, including the Confederation of British Industry (CBI), the Institute of Directors (IoD) and the Federation of Small Businesses (FSB) have called on the government to reform … Read more Business and Tax Round-up
Recent research from HMRC has suggested that small charities and some sports clubs are missing out on £600 million in additional funding, with a third of donations failing to add Gift Aid. Who does Gift Aid apply to? As well as charities, Community Amateur Sports Clubs (CASCs) can also take advantage of the Gift Aid … Read more Making the Most of Gift Aid
Due to the Common Reporting Standard, HMRC now receives much more information regarding overseas accounts than it has received in the past. This access to information invariably has raised consequences of non-disclosure. There is an opportunity to take remedial action before 30 September 2018 under what is known as the Requirement to Correct (RTC). This … Read more Worldwide Income & Capital Gains and the Requirement to Correct
The government’s landmark Making Tax Digital (MTD) for business initiative is set to take effect from 1 April 2019, beginning with MTD for VAT. Here, we take a look at the latest position, and consider the recent delay to some of HMRC’s new digital services. MTD for business: an overview The MTD for business initiative … Read more Making Tax Digital: Where Are We Now?
OTS publishes review into simplifying the taxation of savings income The Office of Tax Simplification (OTS) recently published a detailed review into the taxation of savings income. The OTS’s stated aim was to review the application of the tax system to savings and investment income, and highlight ways in which any ‘real complexities’ can be … Read more Tax Round-up
Recent research has suggested that 48% of UK workers have suffered from poor mental health, while the potential annual cost to employers could be as much as £1,400 per employee. Here we offer some key strategies to help ensure positive mental health in the workplace. ✔ Spotting the signs Possible indicators of mental health issues … Read more Spotlight on Mental Health in the Workplace
HMRC recently issued a warning over the latest tax refund scam to affect taxpayers. Fraudsters are currently using emails and SMS messages to target individuals by promising them a tax rebate and tricking them into disclosing their personal and banking details. However, HMRC has confirmed that it will only ever inform taxpayers of any tax … Read more Taxpayer Beware: HMRC Warns Over Tax Refund Scams
If your business is performing well and making a healthy profit, you may be looking at funding options to grow and develop your business. It’s also important to ensure that you are making the most of the available tax reliefs and incentives. Here we consider some key financial pointers that could help you to take … Read more Funding Your Business’s Needs
Self-employed? Topping up your NICs If you are self-employed, there is still time to top up your national insurance contributions (NICs) by making Class 2 payments, which can be a significantly cheaper option than making Class 3 voluntary contributions. Class 2 NICs were due to be abolished in April 2018, but the measure has been … Read more Tax Tip
