Wealth Management News

Auto-enrolment final deadline passes

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By 1 February 2018, all employers must have a workplace pension plan in place under the Government’s automatic enrolment scheme. Launched back in October 2012, auto-enrolment has seen millions of workers across the UK enrolled into workplace pension schemes. The final deadline this month applies to all new employers who have PAYE first payable between […]

Business News

Scotland revise income tax bands

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Derek Mackay, Scottish Finance Secretary, has made a change to the proposed Scottish income tax bands for 2018/19 which he announced in December 2017 in the Scottish Draft Budget. The change is being made to ‘remove an anomaly that meant some higher rate taxpayers saw their bills fall while others on slightly lower incomes saw […]

Business News

What will the Spring Statement bring?

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We had two Budgets in 2017 and the Spring Statement is planned for Tuesday 13 March. The Chancellor Philip Hammond has previously stated that at the Spring Statement he will respond to the Office for Budget Responsibility forecast, consider longer-term tax challenges and start consultations on how they can be addressed. The government has the […]

Business News

Updated list of professional subscriptions

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Employees are allowed to claim tax relief on their annual professional fees or subscriptions to some HMRC approved professional organisations. The costs are tax deductible generally where the individual must have membership to do their job or it is helpful for their work.  Where the fees are paid by the individual’s employer this will not […]

Business News

HMRC halts thousands of scam text messages

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HMRC have announced that they have stopped thousands of taxpayers from receiving scam text messages ‘with 90 percent of the most convincing texts now halted before they reach their phones’. HMRC’s press release states: ‘Fraudsters alleging to be from HMRC send text messages to unsuspecting members of the public. In these messages they will make […]

Business News

Tax-free childcare roll out

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The implementation of Tax-Free Childcare, the new government scheme to help working parents with the cost of childcare, is being rolled out to eligible parents in stages. The scheme first made its debut in April 2017 and although there have been initial systems problems, HMRC’s aim is to have the scheme open to all eligible […]