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State pension age review

  • Posted On: 27 October 2016
State pension age review In March of this year, John Cridland CBE, the former Director General of the Confederation of British Industry (CBI) was appointed by the government to lead an independent review of the state pension age. The state pension age for both men and

Latest 'tax gap' figures published

  • Posted On: 27 October 2016
Latest 'tax gap' figures published HMRC has published figures that show the tax gap has fallen to 6.5% for the 2014-15 tax year. The tax gap is basically the difference between the amount of tax due and the amount of tax collected by the Exchequer. The gap includes tax that has been

Director disqualified for 15 years

  • Posted On: 27 October 2016
Director disqualified for 15 years Missing trader fraud also known as 'carousel fraud' usually involves small high value goods such as computer chips or mobile phones which are imported free of VAT from other EU member states. The goods are then sold in the UK for an amount including

Requesting an SA302 from HMRC

  • Posted On: 27 October 2016
Requesting an SA302 from HMRC HMRC has tweeted a reminder for taxpayers who need to request a copy of their SA302 tax calculation. The SA302 tax calculation and tax year overview documents are commonly used as evidence of income for loan or mortgage purposes for the

Pension reforms continue

  • Posted On: 27 October 2016
Pension reforms continue Major pension reforms came into effect on 6 April 2015. Savers have already taken advantage of the pension freedoms to flexibly access over £7.6 billion from their pension pots. Since July this year, over 158,000 people have accessed over £1.54

Fraudulent communications from ‘HMRC’

  • Posted On: 20 October 2016
Fraudulent communications from ‘HMRC’ HMRC is warning of a number of new email phishing scams. Phishing emails are used by fraudsters to access recipients’ valuable personal details, such as usernames and passwords. Whilst these messages may appear to be genuine they are very dangerous

Help to Save scheme

  • Posted On: 20 October 2016
Help to Save scheme An HMRC consultation paper on the launch of the new Help to Save scheme closed in July 2016. A response to the consultation providing more information on the scheme has been published. The government received 31 formal responses. Most respondents

Secondary annuities market

  • Posted On: 20 October 2016
Secondary annuities market Late last year, the government announced that a new secondary annuity market would be created by April 2017. However, after an extensive period of research, it has been decided to cancel these plans. The government was concerned that the consumer

Capital allowances on cars

  • Posted On: 20 October 2016
Capital allowances on cars Businesses can claim capital allowances for certain capital expenditure. Qualifying expenditure on cars must be allocated to one of two general pools of expenditure. Which pool is appropriate depends on the car’s CO2 emissions. Currently,

Underpayment of the National Minimum Wage

  • Posted On: 20 October 2016
Underpayment of the National Minimum Wage HMRC publishes a series of factsheets about the checks they carry out to ensure employers are paying workers at a minimum the National Minimum Wage (NMW) or the National Living Wage (NLW). The factsheets provide employers with information on the type