Scott & Wilkinson Blog - Page 34
Please select a news item listed below which may be of interest to you. Alternatively, please review our archives at the bottom of the page by year. If any of them are of interest and you require more information, please do not hesitate to contact the office.
SSP no longer reclaimable from Government
Date: 23/04/14
Businesses are reminded that the ability to reclaim Statutory Sick Pay (SSP) in certain circumstances under the Percentage Threshold Scheme (PTS) has been abolished. The Government withdrew the scheme from 6th April in order to establish a new... Read More
UK Inheritance rates among highest in the world
Date: 11/04/14
Families are reminded of the importance of inheritance tax planning after new research revealed that the UK has one of the highest rates in the world. The threshold at which inheritance tax (IHT) becomes payable in the UK is currently £325, 000,... Read More
Self employed taxpayers warned on NIC Debts
Date: 02/04/14
People with unpaid national insurance contributions (NICs) are warned that private debt collectors could be used to recover the money they owe to HM Revenue and Customs (HMRC). People paying tax through Pay As You Earn (PAYE) as an employee, or who... Read More
Annual Investment Allowance doubled to £500,000
Date: 01/04/14
Businesses looking to invest in new plant or machinery need to consider bringing forward their capital expenditure in order to take advantage of a generous doubling of tax relief available on their purchases. In his Budget speech, Chancellor George... Read More
Employment Allowance
Date: 21/03/14
From 6 April 2014 employers can claim the Employment Allowance and reduce their employer Class 1 National Insurance contributions (NICs). You can claim the Employment Allowance if you are a business or a charity (including Community Amateur Sports... Read More
Why does the tax year finish on the 5 April?
Date: 20/03/14
The reason for the tax year running from 6 April to 5 April is primarily historical and has its origin in the switch from the Julian to the Gregorian calendar in 1752. It had been calculated in the 16th Century that the Julian calendar had lost 9... Read More
Budget 2014
Date: 20/03/14
Many businesses could benefit from some of the measures introduced in the Budget. George Osborne's Budget for a Resilient UK outlined a number of new measures, while also welcoming significantly improved growth forecasts, with the UK economy... Read More
RTI penalties to be phased in
Date: 12/03/14
Employers are advised that the introduction of penalties for late filing and late payment in relation to Real Time Information (RTI) will be staggered, rather than coming into force in April as originally planned. Automatic in-year Pay As You Earn... Read More
Act now to avoid high income child benefit charge
Date: 25/02/14
Parents affected by the high income child benefit charge are advised that time is running out to take steps to avoid it or reduce its impact in the next tax year. Under the new rules, which came into effect on 7 January 2013, families where at least... Read More
