Unemployment drop...

Apr 22, 2014

Figures recently published by the Office for National Statistics show that unemployment has dropped below 7% for the first time since the recession and employment has seen the biggest annual jump…

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Government announces extension for pension decision period

Apr 17, 2014

The government announced recently that people who have recently taken a tax-free lump sum from their defined contribution pension will be given 18 months rather than 6 months to decide what they wish…

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Radical proposal to change private residence relief

Apr 15, 2014

At present, it is possible to make an election, in certain circumstances, allowing owners of more than one residential property to choose which property is their main residence. In this way a measure…

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Office for Budget Responsibility (OBR) issues conflicted information

Apr 10, 2014

It would seem that economic indicators confuse economists as well as the rest of us. The first two paragraphs of the recently published Executive Summary of the OBR makes for interesting reading.

 Here’s…

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Don\'t forget to claim Employment Allowance

Apr 08, 2014

Employers are reminded to claim the £2,000 Employment Allowance which commenced 6 April 2014. Basically, employers can reduce their National Insurance contributions by a maximum £2,000 in the current…

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Lifestyle victory for taxi driver and his family

Apr 02, 2014

Glen Whittle must be feeling pleased with the outcome of his recent appeal against assessments issued by HMRC.

An enquiry instigated by HMRC resulted in the issue of assessments on the basis…

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What has changed since the Budget?

Mar 31, 2014

  • For those born after 5 April 1948 the personal tax allowance is £10,000. It was also announced that from 6 April 2015 this would increase to £10,500.
  • The much publicised…

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HMRC is changing the way they charge interest on late paid PAYE

Mar 31, 2014

Employers should note that HMRC is changing the way they charge interest on unpaid PAYE from 6 April 2014. We have reproduced below HMRC’s recent Helpsheet:

 For the tax year 2014-15…

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State Pension and tax

Mar 31, 2014

If you have recently started to receive your State Pension, you may, or may not, have noticed that it is paid without deduction of tax. This can have a number of unforeseen tax consequences:

  • If…

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