A recent investigation into Child Trust Funds (CTFs) by the National Audit Office (NAO) has revealed that, disturbingly, nearly £400 million in matured CTFs remain unclaimed. … More Neglected Child Trust Funds lying unclaimed
Our May 2023 newsletter is out now, exploring changes to Childcare Support, Allowances, Capital Allowances, Employee Happiness and much more. … More @NEWS April/May 2023
The second ever Tax Administration and Maintenance Day (Tax Day) took place on 27 April, with the government publishing a range of technical proposals and consultations. … More Second Tax Day brings change and consultation
With basis period reform now underway, HMRC is looking at further tax simplification for sole traders and partnerships by increasing the cash basis turnover threshold. The cash basis scheme removes complexities such as accruals and most capital allowances. … More Cash basis reform: potential turnover threshold changes
The government is extending the provision of 30 hours of free childcare for 38 weeks to now include all pre-school children over the age of nine months. … More Childcare support extended to children over nine months
More than 12 million taxpayers file self-assessment tax returns, but less than 3% do so using a paper return. Given this low demand, HMRC is reviewing the current paper filing service. … More Demise of paper tax returns
The energy price guarantee of £2,500 was extended in the March Budget for a further three months, which is welcome news for employees and any small business owners who work out of residential accommodation. … More Energy support boost for home-based businesses and employees
New measures affecting pension allowances announced in the March Budget could mean your retirement planning strategy needs to be reviewed. … More The Budget surprise: changes to the pension tax rules
The eligibility for some bereavement payments has now been extended to unmarried couples, but there are two major caveats. … More Bereavement benefits extended to unmarried couples
With HMRC under pressure to collect more tax owed, it is moving away from the tolerance shown during the pandemic and back towards a normal level of debt enforcement activity. As a result, the number of company winding-up petitions being instigated by HMRC is rising rapidly. … More Winding-up petitions on the rise in HMRC squeeze
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