Are you claiming state pension?

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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.

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Anti-corruption statement signed by UK professional bodies

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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.

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Cameron Baum’s April charity donation

Water Aid photo - WaterAid & Layton Thompson

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.

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Just 8% aware that ISA savings form part of ‘taxable estate’

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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.

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HMRC warns companies to stop paying staff in gold bars

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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.

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Teenage entrepreneurs wary of starting up on their own

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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”.

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Conformation Statement to replace Annual Return – June 2016

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On 30th June 2016, the Annual Return (AR) will be replaced by a Confirmation Statement.

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SMEs overcharged VAT due to flawed HMRC guidance

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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.

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HMRC raises record amounts in Inheritance Tax

second home property

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.

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New HMRC Factsheet ‘National minimum wage information for employers’

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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.

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