Cracking down on compliance pays for HMRC
New figures show HMRC’s “customer compliance” efforts are yielding substantial sums. In early August, HMRC issued its annual report and accounts for 2018/19. While not everyone’s choice of holiday reading, it did contain some eye-opening information about the “compliance yield” – how much HMRC raised from its work in countering tax avoidance schemes, tax […]
How do you feel about taking a pension at 75?
Is a state pension age (SPA) of 75 looking more likely? Recommendation The SPA should better reflect the longer life expectancies that we now enjoy and be used to support the fiscal balance of the nation. The SPA in the UK is set to rise to 66 by 2020 (Pensions Act 2011), to 67 between […]
Probate delays affecting estate settlements
There are currently long delays in gaining probate on the estates of the recently deceased. Late in 2018, the government issued a written statement announcing its intent to go ahead with controversial increases in probate fees for England and Wales. Instead of the current flat fees of £155 for applications through a solicitor and £215 […]
A bumpy ride for August on the markets
Stock markets, as well as some family holidaymakers, experienced a rollercoaster August. The traditional holiday month proved to be anything but quiet on the world’s investment markets. As the graph of the major UK and US stock market indices shows, there were plenty of sharp lurches, up as well as down. Inevitably the downward trends […]
Improved protections against redundancy for new families
Extended legal protections against redundancy for pregnant women, new mothers and adoptive parents have been confirmed by the Department for Business, Energy and Industrial Strategy (BEIS). Government consultation revealed that new parents continue to face discrimination at work, with up to 54,000 women saying they felt they had to leave their jobs due to pregnancy […]
New measures for company car tax
You may want to review your company car needs in the light of changes to the company car tax rules coming in next year. Do you know your WLTP from your NDEC? If you drive a company car or administer a company car scheme, you’ll find it useful to understand the distinction between the two: […]
The taxing problem of plastics – a challenge for all
The Treasury has said a single use plastic waste tax will be brought in – but not for three years. What can you do in the meantime to help tackle the environmental challenge? Legislation on a plastics tax is now slated for April 2022 following proposals expected to be included in the next Budget. The […]
Time to overhaul inheritance tax?
July saw the publication of the long-awaited second report on inheritance tax (IHT) from the Office of Tax Simplification (OTS) with a range of useful proposals. Focused on simplifying the structure of IHT, the report, contained some surprises, not only in the recommendations it makes, but also in those areas it has left untouched. A […]
Self-employed hit by self-assessment system error
If you are self-employed, you may find you have been affected by an HMRC system error which could mean a higher tax bill in January. Self-assessment statements for payments on account affecting the self-employed have either not been sent out at all or show a zero balance where a payment was due on 31 July. […]
Blackmore Vale Business Awards 2019 Finalists
As headline sponsor of the Blackmore Vale Business Awards 2019, everyone at Ward Goodman would like to congratulate all of the finalists. We not only look forward to seeing you all at the awards evening on Thursday 19th September 2019 being held at The George Albert Hotel nr Dorchester, but also to hosting you all […]
