Businesses are not adapting for millennial dads

Businesses are not adapting for millennial dads

In today’s society, there has been a ‘seismic shift’ among male millennials, yet, recent research has revealed that the majority of businesses are failing to understand that they need to be offering the flexibility these employees require to balance work demands with the desire to be a hands-on dad. Read more…

Are exit interviews important?

Are exit interviews important?

Team member resigns and in your haste to find a replacement you dismiss the thought of carrying out an exit interview……….. BUT exit interviews can provide valuable information to a company which can help to assess; What you do well What areas could be redefined or enhanced and What areas require improvement Here are our top tips Arrange the exit interview the week (or a Read more…

Revenue tests new trigger to increase the accuracy of PAYE codes

Revenue tests new trigger to increase the accuracy of PAYE codes

HM Revenue & Customs (HMRC) is trialling a new trigger, which is intended to improve the accuracy of employees’ PAYE tax codes. According to HMRC, as many as half a million tax codes being used by employers across the UK could be incorrect, leading to employees either overpaying or underpaying tax. To address the problem, HMRC is making changes to dynamic coding, which began its Read more…

New code launched to help protect victims of sophisticated banking fraud

New code launched to help protect victims of sophisticated banking fraud

A new code has been launched by 17 UK banks to protect customers who fall victim to a sophisticated form of fraud known as Authorised Push Payment (APP) scams. APP scams involve tricking people into making payments to fraudsters, who are masquerading as legitimate payees. Victims of these scams who notify the banks signed up to the new code will now be informed within 15 Read more…

EIS and SEIS tax relief funding passes £2.1 billion

EIS and SEIS tax relief funding passes £2.1 billion

A rise over the course of the 2017-18 tax year saw funding for the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) tax reliefs pass the £2.1 billion mark. The EIS scheme saw the larger increase in approved funding, with an increase in funds raised of £28 million. In comparison, SEIS approved funding rose by approximately £2 million over the year, despite a Read more…

Significant lack of awareness around gifting rules for IHT

Significant lack of awareness around gifting rules for IHT

A new report published by the National Centre for Social Research (NatCen) and the Institute for Fiscal Studies (IFS) has revealed a worrying lack of awareness about the Inheritance Tax (IHT) benefits of making a gift. Its study found that only 25 per cent of those who had made a gift had a ‘working knowledge’ of the IHT rules and fewer than half reported being Read more…

MTD for VAT – relaxation on posting supplier statements

MTD for VAT – relaxation on posting supplier statements

HM Revenue & Customs (HMRC) has updated its VAT notice regarding Making Tax Digital (MTD) for VAT to relax several of the digital recordkeeping requirements. One of the changes, secured with the help of the Chartered Institute of Taxation (CIoT), relates to purchase invoices from suppliers. It has become apparent in sectors that receive a high number of purchase invoices from the same company, that Read more…

Government confirms that HMRC will get a higher priority when firms go bust

Government confirms that HMRC will get a higher priority when firms go bust

From April next year, HM Revenue & Customs (HMRC) will rank third, just after secured creditors such as banks and insolvency practitioners in order to recover additional outstanding tax from failing businesses. Currently, HMRC is ranked alongside unsecured creditors, such as suppliers, trade creditors, contractors and customers, who on average rarely recover more than four per cent of debts owed. However, the change will mean Read more…