Significant Rise in Landline Scams Warns HMRC
As a result of HMRC's efforts to crack down on email and SMS phishing scams, it seems criminals are returning to the more traditional method of cold-calling unsuspecting households and threatening legal action if they don't pay up. These scammers often target more...
Return of Corporation Tax Relief for Acquired Goodwill
A late change to the Finance Bill will bring back relief for acquired goodwill on the acquisition of businesses with eligible intellectual property from 1 April 2019. The restoration of relief for goodwill and customer-related assets is a welcomed return of a relief...
Further Implications on Jobs and Economy post Brexit
Although jobs in the financial sector may be taking a hit, a very specific type of accountant is claimed to be very sought after. According to Morgan McKinley's UK 2019 Accounting and Finance salary guide, banks and investment firms are seeking to hire technical...
Businesses Told to Prepare for post-Brexit Customs Declarations
VAT-registered UK businesses that trade exclusively with the EU are being urged by HMRC to prepare for a no deal Brexit. 145,000 affected businesses received a letter from HMRC, detailing the changes to Customs, Excise and VAT procedures in the 'unlikely event' that...
This Change to Accounting Standards Could be Taxing
Making Tax Digital (MTD) - Is a key part to HMRC's plan to make it easier for sole traders and business alike to get their tax right. HMRC aim to become one of the most digitally advanced tax administrations in the world. If you are VAT registered and have a taxable...
Pound Set to Plummet
With Brexit striking fear in the hearts of people all over the country, surveys have been done to find out what people expect to happen after the UK leaves the EU in March 2019. A recent survey showed that more than a third of small sized British companies are...
Small Retailers See Reduction in Business Rates
As announced in the Budget 2018, small retail businesses in England are set to benefit from a reduction to business rates. Business rates are to be reduced by a third for many retail properties with a rateable value below £51,000 for two years from April 2019, subject...
Buy-To-Let Remortgaging Rises to Record High
As many landlords seek to mitigate higher tax costs, the number of landlords looking to remortgage has reached and all-time high. Paragon surveyed around 200 mortgage intermediaries and found that as a proportion of the buy-to-let market, remortgaging had an 8%...
Pension income not being a requirement of the divorce agreement
A report made by Age Uk has claimed that a number of women in retirement who are divorced are losing out on a vast amount of money and assets. Unless a divorce is taken to court, it is not a requirement to know a spouses pension value, and therefore married couples do...
A lack of SME leaders have succession plans in place
According to research, a succession plan has not been put into place by 64% of small businesses within the UK. 1,002 responses were polled by small business lender Aldermore. The majority of these responses shown that decision-makers had not put a plan in place that...
