A number of trade associations have issued warnings to their members recently. They are concerned that HMRC are making an issue of business mileage recording. Apparently, employers are failing to keep adequate records of mileage for employees who have the use of company vehicles. Self-employed business owners can also be caught out by the same issue. If you are a Continue Reading
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Top Earners Pay a Third of all Income Tax
This government has focused on tax avoidance and have often given the impression that high earners are not paying their fair share, however, an article in the Telegraph this morning quoting HMRC's own figures, seems to suggest otherwise! Top earners pay third of all income tax Figures from HMRC have revealed that in 2013-14, the best-paid 1% of workers will Continue Reading
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Equitable life payments brought forward
It was announced in this year's Budget that people who bought a with-profits annuity from the Equitable Life Assurance Society before September 1992 - and were aged 60 or older on 20 March 2013 - would receive an ex-gratia payment of £5,000. Payments were planned for the 2014/15 tax year but have now been brought forward to this tax year Continue Reading
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The new Single-Tier State Pension
It has been announced that the new Single-Tier State Pension will start, subject to Parliamentary approval, April 2016. The original proposals for the new system were outlined in a White Paper published January 2013. At present the changes are speculative and will need to be agreed by Parliament. However, readers may be interested to read the following notes that summary Continue Reading
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