Pension Access
From April 2028 the earliest an individual will be able to access their pension is by the age of 57. The current access age is 55.
Interest Rate Rise
Written by Tony Shackleford on .
The Bank of England has increased the UK base interest rate to 1%. This is the highest UK interest rate for 13 years. Prior to 2009 the interest rate was running at between 4% and 6%. It seems...
VAT on Private Tuition
Written by Tony Shackleford on .
For tutoring costs provided by the private sector to be exempt from VAT, the primary condition is that the subject being tutored is one which is ordinarily taught in school or university.
However...
Investigations Into Company Strike off re Covid Grants
Written by Tony Shackleford on .
In an attempt to restrict the amount of Bounce Back Loan frauds, an Act was recently passed by the government. The purpose of the act is to prevent company strike offs (applications to dissolve...
SEISS – Repayment of Overclaimed Grants
Written by Tony Shackleford on .
From April 2022 HMRC is contacting self employed individuals who have been overpaid grants under the 4th and 5th Self Employed Income Support Scheme. The taxpayers will be provided with...
Financing the Spring Statment 2022 NIC Change
Written by Tony Shackleford on .
The cost, over 5 years, of the increasing the starting point for payment of employees NIC is £26.3bn per the government.
The same government document stated that the changes to the student loan...
National Insurance Changes
Written by Tony Shackleford on .
The Chancellor’s Spring Statement announced a significant change to the charging of employees National Insurance Cotnributions (NIC). The change takes place in July 2022 and it aligns the nil...
MTD VAT Extra Tax
Written by Tony Shackleford on .
HMRC has rcently announced that an estimated additional tax of £195 million has been collected following the introduction of Making Tax Digital.
HMRC stated that the additional tax resulted from a...
Upcoming Changes to Filing Documents at Companies House
Written by Tony Shackleford on .
As a consequence of the Russian invasion of the Ukraine, The UK government is introducing a range of measures concerning the filing of documents at Companies Hoouse. The changes are designed to...
Uber VAT
Written by Tony Shackleford on .
In a recent ruling the High Court found that Uber had a contractual obligation to its customers. Therefore the service provided was proivded by Uber and not the ‘self employed’...