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The law on workplace pensions has changed and now, under the Pensions Act 2008, every employer in the UK must put certain staff into a penson scheme and contribute towards it. This is what’s know as ‘auto-enrolment’. Auto-enrolment was designed to encourage a retirement savings culture in the UK. This new legislation requires all employers
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HM Revenue and Customs (HMRC) will shortly be launching their new system of personal tax accounts, which is set to replace the current annual tax return. The online accounts will allow people to see their tax details and make payments at anytime, and will be similar to that of online banking. All personal tax payers
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There are two ways you can submit your self assessment tax return to HMRC – you can either do a paper return or file an electronic tax return. Depending on how you submit your tax return depends on the deadline for submission: Paper tax returns need to be submitted by 31 October. So tax returns
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The flat rate VAT scheme for small businesses was introduced to reduce time spent on administration of sales and purchases when operating VAT. Under the scheme a fixed percentage rate is applied to the turnover of the business as a one off as opposed to recording and calculating the VAT on each sale and purchase
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HM Revenue and Customs (HMRC) have today announced they are too close 137 local tax offices which will be replaced with 13 regional centres. According to HMRC the closures will be complete by 2027, however current plans are to have the new centres opened within the next five years. The new offices are to be
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As of April 2016 the current rules applicable to dividends taken by company directors will be changed, resulting in a higher tax liability for most limited company owners. Read on to find out how much this will cost you. What will be changing? During the July budget the Government announced a new dividend tax regime
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A new study by major accountancy firm KPMG has suggested nearly six million workers in the UK are paid less than the living wage. Data from the survey showed that the most likely people to earn under the wage are part time workers, females and the young, and that the number of people earning under