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- Tax Saving Accountants
- 14 Sep 15
Do Changes To The Inheritance Tax Limit Mean Changes To Your Will?
Thousands of families in the UK will need to make significant changes to their will or risk missing out on the new allowance for inheritance tax. Many of these people originally set up discretionary trusts in order to have a tax-efficient way to leave property to their children. Accountants have warned that changes to the […]
- Tax Saving Accountants
- 7 Sep 15
New Pension Rules Affecting Over-55s
An oddity in the income tax system means HMRC incorrectly overcharges people who make the most of new rules to withdraw cash from pensions. In April 2015, new rules stated that over-55s can withdraw regular or provisional sums of cash from their pensions. However, if a person makes a significant withdrawal in a single month, […]
- Tax Saving Accountants
- 31 Aug 15
Tax Break – UK Leads to £3bn Gas Project in the North Sea
Maersk is an energy group from Denmark and will be leading a £3bn project aimed at developing the largest gasfield which has been discovered in the North Sea for a decade. This is the first big investment which will be benefiting from the tax breaks in the UK which was announced in the Budget. The […]
- Tax Saving Accountants
- 24 Aug 15
Tory Leader Ruth Davidson asks for Low Taxes for Scotland
Tory Leader asks for Low Taxes for Scotland, Leader of the Scottish Tories, Rush Davidson has recently said that she believes the Scottish government needs to pledge to never raise taxes higher than everywhere else in the UK in order to prevent the top-rate taxpayers leaving Scotland in order to work in England. Ms Davidson […]
- Tax Saving Accountants
- 17 Aug 15
HMRC May be Facing Huge Tax Refund Bill
Accountants have revealed that HMRC may be facing a huge tax refund bill, worth “tens of billions” over the next few years. Businesses claim they have overpaid their tax by millions of pounds, dating back decades in some cases. These include challenges by insurance giant Prudential tobacco group BAT and retailer Littlewoods which is owned by the Barclay brothers. […]
- Tax Saving Accountants
- 10 Aug 15
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
- 3 Aug 15
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
- 27 Jul 15
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
- 20 Jul 15
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
- 13 Jul 15
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 […]