On average, there are around 570,000 deaths in the UK every year, although inheritance tax is due on less than 5% of estates. (more…)
HMRC is currently investigating 171* professional football players, up 90% from just 90 players under investigation in September 2017, as it looks to crackdown on the misuse of image rights payments and increase revenues from the industry.
HMRC has already collected £332m in additional revenues from investigations into the football industry in the last two years alone. 44 league clubs and 31 football agents are also currently being investigated. (more…)
The revenue recently released R&D data for the previous financial year which shows that R&D claims continue to provide valuable benefits to companies undertaking R&D. The total amount of R&D support claimed by businesses has increased by 25% bringing totals for 2016/17 to £3.7bn, to hit another record high last year. (more…)
All businesses that are VAT registered with a turnover over £85,000 will need to submit their VAT returns using accounting software from 1 April 2019, however, there has been a delay until 1 October 2019 for some businesses (further details of these businesses can be found below). (more…)
Individuals set to benefit from an increase to the higher-rate threshold in 2019 will only see half of the tax reduction expected, as a result of a Budget measure not mentioned in the Chancellor’s speech.
In Budget 2018, the Chancellor announced that the higher-rate income tax threshold would increase from £46,350 to £50,000 in 2019/20. (more…)
This is expected to raise more than £3 billion between 2020 and 2024, as self-employed individuals who fall within the rules, and the businesses engaging them, will face a higher tax charge. (more…)
This will take effect from 1 January 2019 and remain in place until 31 December 2020, after which it is due to revert back to £200,000. (more…)
Most people don’t like to think about their own mortality, but planning for the future is important to ensure your property, money and possessions are distributed the way you intend.
Writing a legally valid will is an essential part of this, and can provide peace of mind for you and your loved ones. (more…)
It’s a common scenario.
As the year draws to a close, the thought of your tax return is there, at the back of your mind. But with so much time before the deadline, you decide not to worry about it for now.
Then the weeks start to fly by, Christmas comes and goes, and soon you’re planning for the New Year and getting back to work as normal. (more…)