Workers missing out on £140 million in unclaimed expenses
Jul 29, 2019
New research has revealed that workers in the UK choose to miss out on £140 million a year in unclaimed work expenses, rather than go through the complex expense claim process. The survey was conducted by smart business spending solution Soldo, ...
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HMRC investigates a quarter of estates that pay IHT
Jul 25, 2019
In the 2018 to 2019 tax year, HMRC opened 5,537 inheritance tax (IHT) investigations, which equated to almost a quarter (23 per cent) of the 22,000 estates on which the tax is applicable. IHT is levied at a rate of 40 ...
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Everything you need to know about electric company cars and tax
Jul 22, 2019
The number of electric cars in Britain recently hit the 200,000 milestone, indicating that the UK is finally coming round to the inevitable idea of an emission-free future. But why wait until then? Electric car owners are already experiencing the cost-saving ...
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VAT Reverse Charge for building and construction services – What you need to know
Jul 18, 2019
In an attempt to tackle fraud in the construction industry, HM Revenue & Customs (HMRC) is be introducing a domestic reverse charge which will take effect from October 2019. The reverse charge legislation will now place the responsibility on a contractor ...
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HMRC defeated in latest high profile IR35 case
Jul 15, 2019
A radio presenter has become the latest high profile person to win an IR35 tribunal case against HM Revenue & Customs (HMRC). The latest case involved Paul Hawksbee, a presenter on Talksport radio, who appealed an IR35 determination over a £140,000 ...
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Managing business expenses is the biggest headache for SMEs
Jul 11, 2019
According to the latest research, managing travel costs and business expenses are the two biggest headaches for businesses in the UK. The research by Allstar Business Solutions looked into the concerns of 1,000 small and medium-sized enterprises (SMEs). They found that employers ...
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Could the IHT seven-year rule on gifts be cut to five?
Jul 08, 2019
At present, when someone dies within seven years of passing on money, property or possessions to loved ones, tax of up to 40 per cent must be paid. However, the Office of Tax Simplification (OTS) has recently suggested that this deadline ...
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Over 800 cyber incidents reported to FCA by financial firms last year
Jul 04, 2019
According to new data obtained via a freedom of information request, financial services firms reported 819 cyber incidents to the Financial Conduct Authority (FCA) during 2018. The figures show a substantial rise compared to the 69 incidents which were reported in ...
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HMRC issue incorrect CGT allowance to thousands of taxpayers
Jul 01, 2019
HM Revenue and Customs (HMRC) has recently issued nearly 350,000 incorrect short tax returns, indicating an error in taxpayers’ capital gains allowance. CGT is payable on the overall gain from the sale of an asset such as a business, second home, ...
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Drunk people in the workplace cost UK economy £1.4 billion a year
Jun 27, 2019
New research has revealed that as many as 89,000 people are turning up to work hungover or under the influence of alcohol every day, costing the economy around £1.4 billion a year. Earlier this year, Lloyd’s of London featured in the ...
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