As soon as you reach state pension age you are entitled to claim for the state pension, even if you are still in employment. However, for woman the pension may start a bit later than hoped, as the qualifying age is rising.
The ICAEW – along with a group of other UK professional bodies – has co-signed an anti-corruption statement which declares their ongoing determination to continue to fight against bribery, corruption, tax evasion and the funding of terrorism and other crime.
Every month Cameron Baum makes a financial donation to a charity selected by one of its employees.
This month’s nominated charity is ‘WaterAid’ – whose goal is to ensure that ‘everyone everywhere’ has access to safe water, sanitation and hygiene.
Findings from a recent survey state that only 8% of Britons are aware that ISA savings form part of ‘taxable estate’ under inheritance tax laws, while just 14% of those asked knew that the inheritance tax-free allowance is currently £325,000.
In the 16th of March Budget, George Osborne announced a package of changes to tackle tax evasion and avoidance with tough new sanctions and harsher penalties for businesses and individuals. He announced the closure of a number of loopholes.
According to recent research conducted by Google, the majority of UK teenagers would prefer to be employed by a well-established company rather than setting up their own business which they view as being too “risky”.
On 30th June 2016, the Annual Return (AR) will be replaced by a Confirmation Statement.
The Association of Taxation Technicians (ATT) has claimed that due to flaws in HMRC’s guidance over its flat rate scheme owners of SMEs are being overcharged VAT.
The scheme – which was introduced to simplify VAT accounting for small businesses – has been criticised at numerous VAT tribunals, and HMRC has been urged to ‘look again’ at the VAT assessments of users of the scheme.
Figures recently released by the UK tax office show that HMRC raised £4.3 billion from Inheritance Tax (IHT) in the 11 months to February 2016.
This represents a new record, which HMRC attributes to an abnormally high death rate between December 2014 and March 2015, and s general increase in the values of assets left in estates.
HMRC have published an updated factsheet for employers to support the introduction of the National Living Wage (NLW) legislation which came into force on 1 April 2016.