17-08-2021
Thousands of people who put money into their pension each year are inadvertently failing to declare pension tax charges, according to HM Revenue & Customs (HMRC). This can lead to an unexpected and costly tax bill. Most taxpayers can save up to £40,000 in pension contributions tax-free each tax year, a limit that sets to
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04-08-2021
Working excessive hours will negatively impact job performance and cause costly mistakes. Recent news reports highlight concerns over high-pressure working conditions and 100-hour working weeks throughout the COVID-19 pandemic. Taking time out to use annual leave entitlement is healthy. Not only does it allow employees to rest and re-energise, but it can also increase motivation and help
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06-07-2021
You are invited to our Step: UP summer networking event Are you looking to connect with future decision-makers? Do you want to build long-lasting relationships with people with similar ambitions and values? Let's step up this summer and embrace new connections. Come and join our small, growing community of young professionals on Wednesday 11 August
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05-07-2021
42% of people’s perception of a company is based on corporate social responsibility activities – Forbes (Feb 2020) In broad terms, Corporate Social Responsibility (CSR) generally has three strands. A company's commitment to carry out their business ethically and sustainably; How they prioritise their employees’ wellbeing in a supportive and diverse working environment; and The
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02-07-2021
Parents faced with the financial headache of childcare over the long school summer holidays are reminded they can get support from the Government. HM Revenue & Customs (HMRC) is reminding working families that they can use Tax-Free Childcare to help pay for their childcare costs over the summer. Tax-Free Childcare – a childcare top-up for
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02-07-2021
Unlike other benefits, tax credits usually have to be renewed each year by 31 July to continue receiving payments from HM Revenue & Customs (HMRC). If you are claiming tax credits, it is really important to look carefully at the information you receive. Even if you have stopped getting tax credits, you still need to
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02-07-2021
A payroll services boss has been banned for orchestrating a multi-million-pound tax avoidance scheme. The case puts a spotlight on company owners and should serve as a reminder that they are subject to strict conditions over keeping records. The High Court issued a disqualification order lasting 11 years to the sole director of Magnetic Push
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02-07-2021
Payments on account are advance payments towards your tax liability for the year, if you complete a UK Self-Assessment tax return and is a way of settling tax owed. The two deadlines for the self-employed to pay their tax bills are 31 January and 31 July of each year. These two payments are made during
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02-07-2021
Penalties for late submission and late tax payments will be determined by a new points system to make them fairer and more consistent, HM Revenue & Customs (HMRC) has announced. Under the new system, penalties will be points-based rather than automatic. This means that those who consistently miss deadlines will accrue more points – and
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02-07-2021
The next big step in the Government’s Making Tax Digital (MTD) initiative is rapidly approaching. From 6 April 2023, MTD is expanding to include businesses and landlords with a combined total gross income over £10,000 per annum, from the following sources: self-employment partnerships UK property overseas property. The changes mean affected taxpayers will have to keep
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02-07-2021
From April 2023, the Corporation Tax rate will rise for companies with profits of more than £50,000, following the Chancellor’s announcement at his Spring 2021 Budget. However, the new higher rate of Corporation Tax will not be the same for all companies and will instead be tied to their profits. Companies generating profits of £250,000
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16-06-2021
Effective 1 January 2021, all EU citizens (excluding Irish citizens) no longer have the automatic right to work in the UK. European nationals and their families who arrived in the UK before 31 December 2020 must apply for the EU Settlement Scheme (EUSS) by 30 June to continue living and working in the UK. Individuals
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