The Competition and Marketing Authority has published information recently that points to evidence of potential mis-selling and unfair contract terms in the leasehold housing market. Their press release is reproduced below: As part of a probe into the industry, the Competition and Markets Authority (CMA) is concerned that leasehold homeowners have been unfairly treated and […]
We have reported earlier this year that from 6 April 2020, residential property sales that are subject to capital gains tax will need to be reported to HMRC within 30 days of the sale. Any CGT due will also need to be paid in this 30 day period. Property sales affected will include: a property […]
The Insolvency Service has issued a warning that fraudsters have been contacting investors in insolvent schemes claiming to be from the Official Receiver’s office or to have been appointed by the Official Receiver to help recover funds for a fee. These approaches are always fraudulent. Official Receivers or any agent legitimately instructed to act on […]
In a month’s time, 5 April 2020, the 2019-20 tax year expires. After this date many of the options to utilise allowances and claim reliefs to reduce tax for 2019-20 will disappear. A number of the reliefs to consider are listed below. This is by no means an exhaustive list. Any numbers quoted refer to […]
What can we expect from the budget next week? On the expenditure side, infrastructure and the NHS seem to be the two major areas for investment. HS2 and other rail improvements in the North are likely to be beneficiaries as will carbon capture and other climate related projects, for example, improving the energy efficiency of […]
From April 2020, the National Living Wage (NLW) and National Minimum Wage (NMW) pay rates will increase as set out below. NLW rates for workers aged 25 and over – from £8.21 to £8.72 per hour. NMW rates: workers aged 21–24 — from £7.70 to £8.20 per hour workers aged 18–20 — from £6.15 to […]
Pubs will benefit from £1,000 business rates discount from April 2020. The cut is on top of previously announced plans to slash the bills of small shops by 50%. In a fresh demonstration of the government’s support for communities up and down the country, a new Pubs Relief will be introduced in April, with £1,000 […]
1 March 2020 – Due date for Corporation Tax due for the year ended 31 May 2019. 2 March 2020 – Self assessment tax for 2019/19 paid after this date will incur a 5% surcharge. 19 March 2020 – PAYE and NIC deductions due for month ended 5 March 2020. (If you pay your tax […]
As we approach the end of yet another tax year it is worth reflecting on the role of HMRC in our tax affairs. Without a doubt, HMRC, tax legislation and its application, will continue to ensure that you pay your taxes. You can rely on HMRC to pounce if they feel that you have underpaid […]
Since the launch of the Dormant Assets Scheme in 2011, £600m has been transferred from High Street banks and building societies to various good causes. The funds have come from bank accounts that are classified as dormant: where banks are unable to trace the account holders The scheme is to be expanded. The government is […]