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How long do you want to work…?

Retirement planning

As people are living longer, a parallel older-age profile is emerging in the labour force. Source: National Statistics 16/4/2019 Labour market statistics for the period December 2018 to February 2019 revealed some impressive results. In the UK, employment of those aged 16–64 was running at 76.1%, the joint highest level ever and up 0.7% on […]

Ian Rodd talks about MTD at B2B Seminar

Making Tax Digital B2B seminar

Ward Goodman were invited to speak at the recent B2B Seminar held at the George Albert Hotel, near Evershot, Dorset. Sixty businesses and guests enjoyed nine speakers talking about SME’s in the South West. Ian Rodd, Managing Director at Ward Goodman, based in our Wimborne accountants gave a short talk on one of the current […]

Office of Tax Simplification’s report on inheritance tax

Inheritance

The Office of Tax Simplification (OTS) has published the first part of its inheritance tax (IHT) simplification review. The report highlights a variety of issues with the current IHT system: IHT returns are submitted for about half of all estates, even though tax is paid by less than 5%; Most of the paperwork cannot be […]

Index-linked savings certificates

Savigns

The popular National Savings & Investments (NS&I) savings certificates will be indexed to CPI instead of RPI from next year. The certificates have not been on sale since 2011, but NS&I allow existing certificate holders to reinvest in new series of certificates when their old ones mature. The terms have gradually worsened over the years […]

UK dividends remain strong despite volatile markets

Dividend

UK dividends are continuing to grow faster than inflation, according to the latest quarterly data from Link Asset Service. Source: Link Asset Services, FTSE The latest UK Dividend Monitor (UKDM) shows that in the third quarter of 2018 dividend payments were 4.1% up on the previous year, comfortably above the current rate of inflation. Looking […]

New probate fees to affect many estates

Probate Fees

The government has revived plans to raise probate fees in England and Wales. A new, banded structure for probate fees in England and Wales is to be introduced, according to a written statement issued a week after the 2018 Budget by the Parliamentary Under Secretary of State for Justice. The announcement comes after the absence […]

State pension equality means increases for all

Pensions

The State Pension Age (SPA) became equal for men and women for the first time, at age 65, on 6 November 2018. Having reached this landmark, the next stage of SPA increases has already started. For both men and women, the state pension will become payable for anyone born between 6 December 1953 and 5 […]

The Budget: an end to austerity?

Austerity

The 2018 Budget – delivered on a Monday for the first time since 1962 – produced a number of surprises, not least some high-profile ‘giveaways’. Announcements in the Budget included: A £650 increase in the personal allowance to £12,500 for 2019/20, the level originally pencilled in for 2020/21. A £3,650 increase in the higher rate […]

Making Tax Digital deadline deferred for certain businesses

MTD Changes

The Making Tax Digital (MTD) for VAT deadline has been extended until October 2019 for certain businesses. Around 3.5% of mandated customers are affected, including VAT divisions and groups, trusts, unincorporated not-for-profit organisations and traders based overseas. The later deadline was announced in response to concerns raised by businesses participating in the VAT pilot scheme. […]

Budget boost for business investment?

Business Investment

The 2018 Budget delivered opportunities for businesses, intended to support and encourage them to invest. One of the key developments confirmed by the Chancellor – but originally announced in previous Budgets – is that corporation tax will fall to 17% from 2020. This new low rate will make incorporation more attractive for smaller businesses and […]

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