New rules for overdraft fees
The Financial Conduct Authority (FCA) has confirmed it will introduce new rules in April 2020 that will make the overdraft fees simpler for users. According to the new rules, overdraft users can only be charged a simple annual interest rate. Therefore, no additional...
Business confidence in UK rising
UK business confidence bounced back in January after the election of a majority government saw political uncertainty recede. This comes from a survey carried out by the Institute of Chartered Accountants in England and Wales (ICAEW). See ICAEWs reports here. Business...
Household Debt Extreme High
Average household debt in the UK is now higher than during the 2008 financial crisis, according to a study by the Trades Union Congress (TUC). The TUC have claimed that average household debt is currently 31% above its peak before the financial crisis. The study...
Phishing Emails – HMRC Issue Guidance
HMRC have issued guidance on understanding the difference between genuine Revenue contact and phishing emails. Criminals use phishing emails to try to obtain taxpayers' personal or financial information. HMRC stated that these emails often contain a link to a fake...
Fraud investigation – £5 billion raised in 2019
According to the latest data from HMRC's Fraud Investigation Service (FIS), £5 billion was raised through fraud investigations in 2019. The figures show that over 600 individuals were convicted for tax crimes in the last year. Also, in the last 12 months the FIS...
Minimum Wage – Largest Raise Ever
Millions of UK workers will see their pay rise in April 2020. The government is making the biggest ever increase in the legal minimum wage. The government has announced a 6.2% increase in the National Living Wage (NLW) for those 25 and over. The NLW will increase from...
IR35 Tax Rules Review Launched
The government has launched a review into the new IR35 tax rules that are due to come into effect 6th April 2020. You may be affected by these rules if you are: a worker who provides their services through their intermediarya client who receives services from a worker...
Tax Return 2019 – Due 31/01/2020
You must submit a tax return if, in the last tax year (6 April 2018 to 5 April 2019), you were self employed and earned over £1000 or you were a partner in a business partnership. If your only income is from your wages or pension, you will not usually need to send a...
Welcome to our Chester Business Network Group
Aim of the Warrington Business Network Group Hi and welcome to our Chester Business Network Group we are pleased you have joined us. My name is Nigel Holland, I am a Chartered Accountant and owner of Holland & Co Chartered Accountants. I have been in business for...
Welcome to our Warrington Business Network Group
We hold our Warrington Business Networking Meetings here. Aim of the Warrington Business Network Group Hi and welcome to our Warrington Business Network Group we are pleased you have joined us. My name is Nigel Holland, I am a Chartered Accountant and owner of Holland...
