New measures to support Prompt Payment Code (PPC) have been backed in a letter sent to PPC signatories from Small Business Minister, Margot James and chief executive of the Chartered Institute of Credit Management, Philip King. The letter confirms that paying invoices...
Gavin Wilson has been put in charge of the payroll department at Holland & Co Chartered Accountants in Widnes. Gavin obtained a degree in Accountancy at John Moores University in Liverpool where he studied amongst other subjects taxation and advanced financial...
The government has published its Savings Bill covering the details and bonuses to those taking out the Lifetime ISA from April 2017. The Bill confirms individual’s annual contributions of £4,000 per year while receiving a 25% government bonus when funds are put...
Businesses paid a record £32 billion in corporation tax last year, up 8% on the £30 billion paid the previous year, according to Funding Options. Figures from HMRC show that corporation tax receipts have increased every year over a 6 year period. The record figure...
The smallest businesses will be exempt from quarterly reporting to HMRC, government proposals about the transition to digital tax accounts have revealed. The 6 consultation papers detail plans to allow the majority of businesses, self-employed people and landlords to...
82% of SMEs still have outstanding balances from their debtors, with the average owed estimated at £62,957, according to research by Direct Line for Businesses. When asked about writing off unpaid debts in the 2015/16 tax year, 19% of the 728 SMEs surveyed said that...
Savers are taking a ‘sensible approach’ when accessing their pension, according to data released by the Association of British Insurers (ABI). The data shows that 57% of pots have had 1% or less withdrawn from them in the last quarter. A further 4% of pots...
Here is a round-up of the top Brexit-related stories this week. Employers opting for temporary staff The number of permanent jobs awarded fell in July as a result of employers holding back due to Brexit uncertainty. The IHS Markit/REC report on jobs found that...
Earnings from the Help to Save scheme should be exempt from income tax, according to the Low Income Tax Reform Group (LITRG). The savings scheme was announced in Budget 2016 for working adults on low incomes and in-work benefits such as universal credit. Individuals...
There are now 9.4 million workers aged over 50 in employment, 3.7 million more than 20 years ago, according to the Department for Work and Pensions. The unemployment rate among older workers dropped to 3.3% – the lowest rate since 2009. Other findings: 8.3...
