On 1st October 2016 the National Minimum Wage rates for the different age bands and for apprentices will increase. All employers need to make sure they are ready.
HMRC have issued a series of consultation documents outlining further plans for the government’s Making Tax Digital (MTD) initiative.
The Chancellor, Philip Hammond, has confirmed that he will present his first Autumn Statement to parliament on 23 November 2016.
New company car advisory fuel rates have been published which take effect from 1 September 2016. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply. The rates only apply to employees using a company car.
The advisory fuel rates for journeys undertaken on or after 1 September 2016 are:
July 2016 will see the introduction of a new set of tax collecting powers that HM Revenue & Customs (HMRC) will be able to use when it believes tax is due that is not covered by a self-assessment tax return.
HMRC are advising employers that their employees may benefit from accessing their Personal Tax Account. These accounts allow taxpayers to view information about their tax affairs and advise HMRC online about changes that may affect the tax they pay. The services available through the Personal Tax Account include:
Chancellor George Osborne is mulling plans to cut corporation tax to under 15% in a bid to encourage continued business investment in the UK following the decision to exit the EU
An immediate impact on some elements of our finances has been felt following the UK's vote to leave the EU.Some of the changes may well only be temporary but experts say that they should be taken into consideration when making money choices. Further, more fundamental, changes are expected when the UK negotiates the terms of its exit from the EU. In the intervening months, the health of the UK economy will be key. So, in the short term, this is what has changed:
The final design for the new Bank of England £5 note entering circulation on 13 September has been revealed.
Estate agents have claimed a UK exit from the European Union could wipe thousands of pounds off house values over the next three years. Homeowners in London could lose as much as £7,500, while homes elsewhere in the UK could lose £2,300, the National Association of Estate Agents said.