HMRC Rental Income Taskforce Background HM Revenue & Customs (“HMRC”) continue to target buy to let landlords and are launching regional taskforces to target under declared rental income and capital gains. It is anticipated that taskforces will bring in more than £100m in additional tax receipts during the 2014/2015 tax year. HMRC hold a database for all property disposals attracting Stamp Duty Land...
�1,000 business rates discount for High Street.
In her first major speech new High Streets Minister Penny Mordaunt tells retailers that business rates support is now helping all parts the country. Six months after it was introduced the £1,000 business rates discount for local shops, cafes, restaurants and pubs (up to a rateable value of £50,000) is estimated to be giving nearly 300,000 premises more than £272 million...
£1,000 business rates discount for High Street.
In her first major speech new High Streets Minister Penny Mordaunt tells retailers that business rates support is now helping all parts the country. Six months after it was introduced the £1,000 business rates discount for local shops, cafes, restaurants and pubs (up to a rateable value of £50,000) is estimated to be giving nearly 300,000 premises more than £272 million...
£1,000 business rates discount for High Street.
In her first major speech new High Streets Minister Penny Mordaunt tells retailers that business rates support is now helping all parts the country. Six months after it was introduced the £1,000 business rates discount for local shops, cafes, restaurants and pubs (up to a rateable value of £50,000) is estimated to be giving nearly 300,000 premises more than £272 million...
Landlord redress schemes
Letting agents have until 1 October 2014 to register with 1 of 3 redress schemes, to ensure tenants and leaseholders have a straightforward option to hold their agents to account. Anyone who feels they get a poor deal from their letting agent will then be able to take their complaint to the redress scheme, and could receive compensation. The schemes are run...
Muras Matters: RTI and Late Payment Penalties
RTI & Late Payment Penalties Real Time Information (“RTI”) Since April 2013 it has been compulsory for all employers to submit payroll information electronically in real time, with reports to be filed on or before payment is made to the employees and a final return to be made after the end of the tax year. Initially HM Revenue & Customs (“HMRC”) delayed imposing...
Autumn Statement 3 December 2014
The Chancellor of the Exchequer George Osborne has announced that he will give his annual Autumn Statement to Parliament on 3 December 2014. The statement provides an update on the government’s plans for the economy based on the latest forecasts from the Office for Budget Responsibility. These forecasts will be published alongside the Autumn Statement on 3 December. Full details of the...
New e-Exporting programme to boost exports
UK Businesses will have access to a new suite of services to help boost their international trade through UKTI’s new e-Exporting Programme. new suite of services and support to help UK companies take advantage of online selling, forecast to reach £60 billion by 2018 UK Trade and Investment (UKTI) is working with the world’s leading e-marketplaces to help UK companies fast-track international...
Car tax changes 1 October 2014
Car tax changes 1 October 2014 From 1 October 2014, the paper tax disc will no longer need to be displayed on a vehicle windscreen. If you have a tax disc with any months left to run after this date, then it can be removed from the vehicle windscreen and destroyed. Car owners with a Northern Ireland address will still need...
What is HICBC?
The High Income Child Benefit Charge (HICBC) affects parents where one partner (or both) have income in excess of £50,000 and either: you or your partner get Child Benefit or, someone else gets Child Benefit for a child living with you and they contribute at least an equal amount towards the child’s upkeep. It doesn’t matter if the child living with you is...