The Small Business, Enterprise and Employment

The Small Business, Enterprise and Employment Act has now received Royal Assent and is expected to be implemented to the timescales set out below. The measures that affect companies aim to: reduce red tape whilst increasing the quality of information on the public register enhance transparency and ensure the UK Read more…

Update for landlords

On 17 July 2015 HMRC published a consultation document that outlines the changes to the way tax relief will be given for replacement of furnishings in let residential properties.  The present wear and tear allowance (10% of rents) has a number of inconsistencies: The allowance can be claimed even where Read more…

Get rich quick scheme exposed

Four London companies involved in selling “miracle” software guaranteed to make investors money trading on the London Stock Exchange, have been ordered into liquidation in the High Court on grounds of public interest following an investigation by the Insolvency Service. The court heard how Direct Technologies Limited, D Corporation Ltd, Read more…

Summer Budget Statement 8 July 2015

 Personal Tax and miscellaneous matters  The Tax Lock  The Government are to legislate to set a ceiling for increases to various taxes. This will ensure that they cannot rise above their 2015-16 levels for the duration of the current parliament. The taxes affected are: The main rates of Income Tax. Read more…

Boost for charities

The Cabinet Office launched an initiative on the 25 June that will provide grants to increase the sustainability of around 250 organisations working in the voluntary, community and social enterprise (VCSE) sector. The fund, which will be delivered by the Big Lottery Fund, will provide grants that will enable recipients Read more…

HMRC softening penalties for employers

Following on from our posting last week. HMRC has underlined its commitment to relaxing the issue of penalty notices, this time for employers having problems meeting the online filing of payroll information. Rather than issue late filing penalties automatically when a deadline is missed, HM Revenue and Customs (HMRC) will Read more…