All News Archives : Page 11 of 16 : ammu

An uncertain future for the Triple Lock

State pension increases could be outpacing inflation next April, and there’s no guarantee of the Triple Lock surviving the next election.

Mitigating rising corporation tax rates

New HMRC statistics have shed some light on how many companies are affected by the recent hike in corporation tax rates.

Are You Owed Money? Exploring Unclaimed Pension Tax Relief in the UK

Did you know that over £1.3 billion of pension tax relief has gone unclaimed by the highest earners in the UK? The pension provider PensionBee analysed unclaimed pension relief between 2016 and 2021, and revealed a staggering amount of unclaimed […]

Deferring your state pension

You do not have to take your state pension at state pension age The current state pension age (SPA) – the earliest age at which you can draw your state pension – is 66. It will be gradually increased to […]

Fraud countermeasure drives R&D tax relief changes

The level of fraudulent claims being made for research and development (R&D) tax relief has prompted HMRC to introduce a new procedure: companies must provide detailed information ahead of making their claim. HMRC figures show that nearly 20% of claims […]

Interest rate rises fuelling increased tax take

The Bank of England base rate increase is impacting on the government’s tax takes, with more taxpayers paying tax on savings income due to higher interest rates. Increased mortgage rates are contributing to rocketing capital gains tax (CGT) takings too. […]

Finalising returns figures and filing early

HMRC is chasing taxpayers who have submitted tax returns for 2021/22 containing unresolved provisional figures, while also extolling the benefits of filing early for 2022/23. What are provisional figures? A provisional figure is not the same as an estimated one. […]

Don’t get caught in the VAT penalties net

The 50th anniversary of the UK’s introduction of VAT was earlier this year, but despite being around for a while, many VAT-registered businesses still find VAT too complex and confusing. No surprise then that more businesses than ever are getting […]

Top 5 reasons to switch your payroll team

Payroll is not just about the numbers – it is about people. That’s why a good payroll team not only makes sure everyone gets paid on time but also accurately keeps your business compliant and your employee’s content. Read on […]

Agri-tax reliefs set for restrictions

Draft legislation has been published that will, from 6 April 2024, restrict the geographical scope of agricultural relief and woodlands relief to property in the UK. Currently, property can qualify for either agricultural relief or woodlands relief if it is […]

New PAYE process for High Income Child Benefit Charge

One of the many criticisms aimed at the High Income Child Benefit Charge (HICBC) is that anyone caught by the charge needs to submit a self-assessment tax return even if all of their tax is collected under PAYE. However, this […]

Abolishing the pensions lifetime allowance

Although the lifetime allowance was effectively abolished from April 2023 as the lifetime allowance charge was removed, it has been retained on statute for a year to allow time for the intricacies to be ironed out. Draft legislation, to take […]

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