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Auto-enrolment earnings trigger again frozen at £10,000 for 2018/19

  • Posted On: 20 December 2017
Auto-enrolment earnings trigger again frozen at £10,000 for 2018/19 Following its annual review of the pension automatic enrolment earnings trigger and qualifying earnings band, the government has decided that the earnings trigger will again remain at £10,000 for 2018/19. The earnings trigger determines at what point

Changes to the basic disclosure process

  • Posted On: 20 December 2017
Changes to the basic disclosure process From January 2018, the Disclosure and Barring Service (DBS) is making some important changes to the basic disclosure process relating to criminal record checks. From next month, individuals who need to obtain a basic disclosure check for a job in

Tax is changing in Wales next year

  • Posted On: 13 December 2017
Tax is changing in Wales next year From next April, Wales will join Scotland in becoming responsible for some of the taxes paid locally. This will begin with the introduction of the new Welsh land transaction tax (LTT) which will replace the UK stamp duty land tax (SDLT) as well as

What is reasonable care from a tax point of view?

  • Posted On: 13 December 2017
What is reasonable care from a tax point of view? The tax penalty system is intended to make penalties simpler to understand and more consistent across many taxes. The penalties can range from 0% where reasonable care is taken, but nonetheless an incorrect return is submitted up to 100% of the tax

Selling your business – 10% tax may apply to sale

  • Posted On: 13 December 2017
Selling your business – 10% tax may apply to sale Entrepreneurs' relief applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where entrepreneurs' relief is available CGT of 10% is payable rather than the normal main rate of 20%. This

Coventry named UK City of Culture for 2021

  • Posted On: 13 December 2017
Coventry named UK City of Culture for 2021 In a boost for the Midlands economy, Coventry has been named UK City of Culture 2021. The announcement was made by the Minister for Arts, Heritage and Tourism, John Glen after Coventry beat four other cities that were in the running. The title of

When you can’t claim employment allowance

  • Posted On: 13 December 2017
When you can’t claim employment allowance The employment allowance of £3,000 per year is available to most businesses and charities and can be used to be offset against their employers Class 1 NIC bill. The allowance can be claimed as part of the normal payroll process. An employer can

Spring Statement 2018

  • Posted On: 07 December 2017
Spring Statement 2018 The Chancellor, Philip Hammond has announced that he will deliver his Spring Statement to the House of Commons on Tuesday, 13 March 2018. This will be the first Spring Statement to take place following the government’s decision to switch to a new

Finance Bill 2017-18 is published

  • Posted On: 06 December 2017
Finance Bill 2017-18 is published The Finance Bill 2017-18 was published on 1 December 2017 and runs to relatively modest 192 pages. The Bill contains the legislation for many of the tax measures that have been announced by the Government at Autumn Budget 2017. The Finance Bill

What happens to the 5p for a plastic bag?

  • Posted On: 06 December 2017
What happens to the 5p for a plastic bag? HM Treasury has published an interesting response to a Freedom of Information enquiry that wanted to know what happens to the money raised from the sale of 5p plastic bags by retailers. HM Treasury points out that this charge is not a tax and the