14-09-2021
While rising property values may seem like good news, as prices go through the roof it could land you with a hefty Inheritance Tax (IHT) bill. The latest data from HM Revenue & Customs (HMRC) show that the average IHT tax bill stood at nearly £210,000. IHT is a charge on the value of the
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14-09-2021
As the UK emerges from the economic crisis caused by the pandemic there are many positive indicators of financial recovery, such as a fall in COVID-induced public spending, a rise in job vacancies and a decline in unemployment, all of which are encouraging businesses to grow. The economic indicators are good news for SMEs with
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17-08-2021
Where grants claimed under the self-employment income support scheme (SEISS) do not correspond with records held by HM Revenue & Customs (HMRC), it will auto-correct 2020-21 tax returns and issue a new SA302 calculation to both taxpayer and acting agent. Corrections may be necessitated if: The grant amount was omitted; The amount received appears in
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17-08-2021
With predictions that the UK economy is set to grow at its fastest pace in 80 years and could recover to its pre-pandemic size by the end of this year, SME owners are feeling more optimistic and are keen to invest in growth. However, they are also frustrated by the mix of financial options open
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17-08-2021
HM Revenue & Customs (HMRC) has warned that debt collection will resume as the UK emerges from the pandemic. HMRC will contact taxpayers who have fallen behind with their taxes. HMRC says it will take an understanding and supportive approach to dealing with tax debts or concerns about their ability to pay their tax. During
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17-08-2021
As the UK economy gets back to full speed and confidence grows amongst small businesses, the super-deduction and the special rate allowance (SRA) should encourage further growth. According to HM Revenue & Customs (HMRC), the super-deduction will give companies a strong incentive to make additional investments and bring planned investments forward. The super-deduction allows companies to cut
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17-08-2021
On 20 July, the Government announced the taxation and other measures for consultation for the Finance Bill 2021-22. The draft legislation largely covers pre-announced policy changes, along with accompanying explanatory notes, tax information and impact notes, as well as responses to consultations and other supporting documents. The Government has also revealed three new policies that it
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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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