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pension top-ups for lower paid employees

pension top-ups for lower paid employees

Employees who contribute to an occupational pension scheme under a net pay arrangement do not currently benefit from any tax relief if their earnings are below the personal allowance. This anomaly will be rectified from 6 April 2024 when HMRC […]

R&D tax relief reform on the cards

R&D tax relief reform on the cards

New reforms will affect companies claiming tax relief or credits on research and development (R&D) expenditure for accounting periods beginning on or after 1 April 2023.  Currently, R&D tax relief for small or medium-sized enterprises provides an extra 130% deduction […]

help to grow: digital scheme expanded

help to grow: digital scheme expanded

The UK Government’s Help to Grow: Digital scheme has just been expanded to businesses with at least one employee. Previously, only businesses with five or more employees were eligible. The scheme provides a 50% discount towards the cost of software. […]

Scotland needs a new tax system and higher tax revenue

Scotland needs a new tax system and higher tax revenue

This was the conclusion reached in a paper published by Reform Scotland at the end of June 2022 and written by Heather McCauley, a former senior civil servant who has worked for the UK, Scottish and New Zealand Governments. We […]

making tax digital for sole traders and landlords

making tax digital for sole traders and landlords

The widening scope of Making Tax Digital (MTD) is highlighting several issues, including the limited availability of the MTD for income tax pilot scheme, and low awareness of the recent expansion of MTD for VAT to all VAT registered businesses. […]

Reclaiming overpaid inheritance tax

Reclaiming overpaid inheritance tax

Inheritance tax (IHT) is expected to raise £37 billion over the next five years – £10 billion more than in the past five years. But IHT is sometimes overpaid and it is reported that families have made 32,000 claims for IHT […]

getting the most from salary sacrifice

getting the most from salary sacrifice

In these straightened times, salary may be preferable to receiving a benefit. However, the attraction of salary sacrifice has increased since 6 April, and when it comes to pensions it makes sense to take a longer-term view. NIC savings Salary […]

some of the recent NIC changes have caused complications

some of the recent NIC changes have caused complications

Some of the latest changes to national insurance contributions (NICs) started from 6 July 2022, causing complications for self-employed people and directors.  Normally rates and thresholds are set for the whole tax year, as with employers’ contributions, which increased to […]

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