Budget U-turns: Pasties, caravans and charities – what will and won’t be taxed

Chancellor George Osborne made a series of Budget U-turns regarding tax and VAT, following concerns raised by charities, businesses and the public. So what changes have been made? Charitable donations Tax avoidance featured heavily in March’s Budget, but proposals to introduce a cap on income tax relief for charitable donations met strong opposition from charities,[…]

Posted in Tax

Six new taskforces launched

HMRC won’t be taking a break over festivities this summer; it is instead launching six new taskforces in the hope of recovering up to £23 million from traders who are paying the incorrect amount of tax. Its taskforce programme specifically targets those they deem as ‘high risk’ sectors and areas of the country. The specialist[…]

Posted in Tax

Taking on extra staff to cover the Olympics?

Businesses across the UK are anticipating busy trading activity during the Olympics and it is expected that many will take on temporary staff to cope with increased demand. With that in mind, HMRC is reminding business owners to be extra cautious when employing temporary staff through labour agencies for any kind of work during seasonal[…]

The Beecroft Report

On 21 May 2012 the Government released Adrian Beecroft’s controversial “Report on Employment Law”.  The report had been commissioned by the Department for Business, Innovation and Skills (BIS), as part of its ‘red tape challenge’, which is aimed at identifying areas of employment law that could be simplified in order to increase growth and help[…]

Posted in HR

Trusts in inheritance tax planning

Trusts can play an important role in inheritance tax planning, but the circumstances must be right. We take a look at the various available trusts, and when a trust may not be appropriate. A voluntary tax? Inheritance tax is charged at 40 per cent on the value of estates in excess of the nil rate[…]