Tax Saving Accountants

Thousands of Young Brits Could Be Hit by EU Migrant Benefit Plan

As the government negotiates its EU membership, plans to tighten the benefit rules for EU migrants is currently coming under the spotlight. One of the key parts of negotiations is a four-year residency test, however lawyers say that only applying a test to migrants would be a breach of EU laws. The government is now […]

Tax Saving Accountants

HSBC has Great First Half of Year as Pre-tax Profit Climbs to 10%

HSBC is the largest bank in Europe, and pre-tax profit at the bank was up a healthy 10% during the first half of this year when compared with this time last year. The pre-tax profit climbed to £8.7bn ($13.6bn) in the first half of the year, compared with $12.3bn this tie last year, higher than […]

Tax Saving Accountants

New Social Care Tax Suggested by Andy Burnham

Andy Burnham has recently said that Labour should be ignoring “difficult headlines” while considering extra taxes which would be able to cover the rising cost when it comes to social care and has suggested a new social care tax.. Mr Burnham has said that his goal of having a National Health and Care service would […]

Tax Saving Accountants

Scottish Families will see £700 Million of Cuts

Between 200,000 and 250,000 families in Scotland will be facing almost £700 million of cuts to their tax credits under the new budget plans for the UK Government. Families who have more than two children will no longer receive tax credits for any subsequent children under these fundamental welfare changes. The income level which people […]

Tax Saving Accountants

Planned Welfare Cuts Divide Labour Party

The Labour Party is currently disagreeing over whether they should support some of George Osborne’s planned welfare cuts. The cuts were recently unveiled in Mr Osborne’s Budge speech, and acting labour leader Harriet Harman was subject to a backlash on Monday at a meeting of Labour MP’s as she urged the party to avoid the […]

Tax Saving Accountants

Tax changes to Pension mean Windfall for the Treasury

New changes from pension systems which allow Brits to cash in their savings may end up providing an extra tax windfall when it comes to the Treasury. Since April this year, those over 55 have been able to choose to take their pension in cash, instead of buying an annuity in order to provide income […]

Tax Saving Accountants

David Cameron says UK needs to Lower tax and Lower Welfare

David Cameron has recently promised to end the “merry-go-round” which happens when low income earners are taxed and then handed back money in benefits. David Cameron says “UK needs to Lower tax and Lower Welfare”. He says it’s wrong to try to treat the symptoms of the economic and social problems that the UK faces, […]

Tax Saving Accountants

Miliband Calls for HMRC To Be Independently Reviewed

Momentum is currently growing for an independent review of HMRC, after Paul Aplin (Chairman of the tax faculty committee at the Institute of Chartered Accountants in England and Wales) suggested that HM Revenue and Customs be reviewed in an effort to improve its current performance. Labour leader Ed Miliband has committed to an independent review […]

Tax Saving Accountants

HMRC Will Waive £100 Fine for Late Tax Returns

The HM Revenue and Customs confirmed. Those who are filing late tax returns have now been let off the £100 fine. The Daily Telegraph received news of the development from a leaked memo. It may affect almost 900,000 people. Despite applause from taxpayers, the effectiveness and legality of the fine waiver is currently being queried. How […]

Tax Saving Accountants

Britain’s Renegotiation with the EU to include Tax Credit Changes

Sajid Javid, business secretary, said that limiting the rights of migrants from the UK to claim benefits is a huge part of the renegotiation of the UK’s relationship with the EU. The tax credit changes would mean that EU migrants could no longer receive the £700 pounds they usually receive in tax credits, which is […]

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